NanoVibronix Further Expands VA Distribution Network to Include SDVOSB Delta Medical, LLC
January 06 2022 - 8:30AM
Business Wire
Delta Medical to Serve as Sub-Distributor to
Applied Medical Solutions for Distribution of PainShield to
Veterans Administration Facilities
NanoVibronix Inc., (NASDAQ: NAOV), a medical
device company that produces the UroShield® and PainShield® Surface
Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today
announced that Delta Medical, LLC, a Service-Disabled Veteran-Owned
Small Business (“SDVOSB”) has been added to the company’s
eco-system of distribution channels to help drive sales of its
PainShield products to Veteran’s Administration hospitals and
healthcare facilities.
Brian Murphy, Chief Executive Officer of NanoVibronix Inc.,
commented, "Delta Medical is owned and led by Justin A. Brooks, a
highly-regarded, decorated veteran with years of medical device
experience and an extensive network of relationships within the VA
system. As a SDVOSB designated business, Justin’s firm is
considered a ‘first priority’ by the VA before other small business
program preferences with similar qualifications. The addition of
Delta Medical to our team should significantly increase our ability
to reach decision makers, which is instrumental in growing sales of
PainShield devices to the VA.”
This announcement follows the recent signing of a distribution
agreement with Applied Medical Solutions, LLC (“AMS”) for the sale
and distribution of its PainShield products to Veterans
Administration facilities located throughout the United States.
Subsequent to that agreement, AMS has signed Delta Medical as a
sub-distributor to help significantly expand its access to
physicians at more than 1700 targeted VA facilities.
Justin A. Brooks, Principal Owner of Delta Medical, LLC,
commented, “One in three veterans have been diagnosed with a
condition related to chronic pain. Opioid-based pain treatments are
commonly the prescribed solution, which often leads to dependency
and in some cases to overdose. We are passionate about educating
the public about non-opioid treatment alternatives that also
improve the overall outcomes for veterans who suffer from
chronically painful conditions. PainShield has shown to be
effective at treating both chronic and acute pain, with no risk of
abuse and promotes high patient compliance due to its small size
and overall ease of use. We are eager to leverage our network to
promote healing for veterans and expand penetration of PainShield
products within the VA healthcare system.”
PainShield is an ultrasound device, consisting of a reusable
driver unit and a disposable patch, which contains a proprietary
therapeutic transducer. PainShield delivers a localized ultrasound
effect to treat pain and induce soft tissue healing in a targeted
area, while keeping the level of ultrasound energy at a safe and
consistent level. Its range of applications includes acute and
chronic pain resolution through its many mechanisms of action. The
product has been acknowledged by several sports icons and has broad
applications for sports injuries. PainShield can be used by
patients at home or work or in a clinical setting and can be used
even while the patient is sleeping. Patient benefits include ease
of application and use, faster recovery time, high compliance, and
increased safety and efficacy over existing devices that rely on
higher-frequency ultrasound.
About Delta Medical Group
Delta Medical Group is owned and operated by Justin A. Brooks, a
decorated veteran of the US Army Infantry with more than a decade
of medical device, private practice and consulting experience. The
firm is focused on providing non-opioid therapeutic modalities for
the management of chronic and acute pain within the Veterans
Administration hospitals and clinics. Justin is committed to
leveraging his experience and network to promote healing and
education around opioid alternatives within the VA healthcare
space.
About NanoVibronix, Inc.
NanoVibronix, Inc. (NASDAQ: NAOV) is a medical device company
headquartered in Elmsford, New York, with research and development
in Nesher, Israel, focused on developing medical devices utilizing
its patented low intensity surface acoustic wave (SAW) technology.
The proprietary technology allows for the creation of low-frequency
ultrasound waves that can be utilized for a variety of medical
applications, including for disruption of biofilms and bacterial
colonization, as well as for pain relief. The devices can be
administered at home without the assistance of medical
professionals. The Company’s primary products include PainShield®
and UroShield®, which are portable devices suitable for
administration at home without assistance of medical professionals.
Additional information about NanoVibronix is available at:
www.nanovibronix.com.
Forward-looking Statements
This press release contains “forward-looking statements.” Such
statements may be preceded by the words “intends,” “may,” “will,”
“plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential” or similar
words. Forward-looking statements are not guarantees of future
performance, are based on certain assumptions and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company’s control, and cannot be predicted or
quantified; consequently, actual results may differ materially from
those expressed or implied by such forward-looking statements. Such
risks and uncertainties include, without limitation, risks and
uncertainties associated with: (i) the geographic, social and
economic impact of COVID-19 on the Company’s ability to conduct its
business and raise capital in the future when needed, (ii) market
acceptance of our existing and new products or lengthy product
delays in key markets; (iii) negative or unreliable clinical trial
results; (iv) inability to secure regulatory approvals for the sale
of our products; (v) intense competition in the medical device
industry from much larger, multinational companies; (vi) product
liability claims; (vii) product malfunctions; (viii) our limited
manufacturing capabilities and reliance on subcontractor
assistance; (ix) insufficient or inadequate reimbursements by
governmental and/or other third party payers for our products; (x)
our ability to successfully obtain and maintain intellectual
property protection covering our products; (xi) legislative or
regulatory reform impacting the healthcare system in the U.S. or in
foreign jurisdictions; (xii) our reliance on single suppliers for
certain product components, (xiii) the need to raise additional
capital to meet our future business requirements and obligations,
given the fact that such capital may not be available, or may be
costly, dilutive or difficult to obtain; (xiv) our conducting
business in foreign jurisdictions exposing us to additional
challenges, such as foreign currency exchange rate fluctuations,
logistical and communications challenges, the burden and cost of
compliance with foreign laws, and political and/or economic
instabilities in specific jurisdictions; and (xv) market and other
conditions. More detailed information about the Company and the
risk factors that may affect the realization of forward looking
statements is set forth in the Company’s filings with the
Securities and Exchange Commission (SEC), including the Company’s
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Investors and security holders are urged to read these documents
free of charge on the SEC’s web site at: http://www.sec.gov. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future
events, or otherwise, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220106005547/en/
Investor Contacts: Brett Maas, Managing Principal, Hayden
IR, LLC brett@haydenir.com (646) 536-7331
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From May 2024 to Jun 2024
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From Jun 2023 to Jun 2024