NanoVibronix Extends Reach of UroShield and PainShield through MTSG’s International Network
January 24 2022 - 8:30AM
Business Wire
Signs International Marketing, Sales and
Clinical Management Agreement with Medtech Solutions Group
NanoVibronix, Inc., (NASDAQ: NAOV), a medical device
company that produces the UroShield® and PainShield® Surface
Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today
announced it has signed an International Marketing, Sales and
Clinical Management Agreement with Medtech Solutions Group
(“MTSG”), a leader in the commercialization of healthcare
technologies.
The agreement allows MTSG to commercialize UroShield® and
PainShield® throughout Europe, excluding the United Kingdom,
Ireland, Malta and Turkey; Asia Pacific, Africa, Central and South
America and certain parts of the Middle East. This agreement
expands the Company’s addressable market by tens of millions of
dollars and should enable availability of its products to new
populations of patients.
“The agreement with MTSG represents an important milestone for
our Company,” said Brian Murphy, CEO of NanoVibronix. “For the
first time in company history, our products are now expected to be
introduced around the world to millions of new patients through
qualified distributors and dealers. MTSG team members have more
than seven decades of global success in launching products and
brand expansion for leading brands and healthcare products. We are
pleased to add UroShield® and PainShield® to their portfolio and
look forward to working closely with them to achieve mutual
success. We are excited to introduce our products to their vast,
existing distribution network through their sales
professionals.”
Ron Dziedziula, Chief Operating Officer of MTSG, stated, “We are
eager to work with NanoVibronix to accelerate the growth of
UroShield® and PainShield® globally. Our team has a proven history
of partnering with our clients and our expanding network of
distributors to develop and implement marketing, sales and clinical
strategies that increase product placements and drive international
revenue growth for the clients we serve. We look forward to doing
the same for NanoVibronix.”
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 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.
About MedTech Solutions Group
MedTech Solutions Group (MTSG) is a private company
headquartered in San Antonio, Texas with regional offices in
London, England, Munich, Germany, Brisbane, Australia, and Mexico
City, Mexico. MTSG was founded to provide medical device
manufacturers with an option to contract with an experienced team
already in place around the world to accelerate the international
revenue of our clients’ brands. MTSG grows our clients brands at a
country level through an expanding network of professional
distributors who know their markets; led by the Regional MTSG Team
Member who works with their distributor partners to grow MTSG
managed brands; supported by HQ MTSG Team Members who manage the
overall execution of the commercialization plan for each
client.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220124005473/en/
Investor Contacts: Brett Maas, Managing Principal, Hayden
IR, LLC brett@haydenir.com (646) 536-7331
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