NanoVibronix UroShield Approved for Sale through NHS Internal Supply Chain Contract
September 23 2022 - 08:30AM
Business Wire
New Contract is Expected to Increase
Availability and Expedite Distribution of UroShield Across the
United Kingdom
NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company
utilizing the Company's proprietary and patented low intensity
surface acoustic wave (SAW) technology, today announced its
UroShield has been approved for sale by the U.K.’s National Health
System’s (NHS) internal supply organization, NHS Supply Chain,
through a new contract.
Brian Murphy, CEO of NanoVibronix, stated, “This new contract
with NHS Supply Chain provides dedicated end-to-end supply chain
service of our UroShield for every NHS healthcare organization.
UroShield will be available to all patients who the need the device
with full clinical support, through the NHS supply chain. It
represents a significant opportunity for us to expand distribution
of UroShield as it will now be made available to all clinicians and
their patients through the NHS organization’s own supply channel.
NHS Supply Chain manages the sourcing, delivery and supply of
healthcare products and services for NHS trusts and healthcare
organizations across England and Wales. The organization processes
more than eight million orders per year across 94,000 order points
and 17,465 locations serving as an integral part of the national
healthcare system in the U.K. We are ramping up production to meet
an increase in demand that we anticipate as a result of this
exciting development.”
The new contract, which is designed to provide new innovative
products for healthcare providers, begins in October 2022 and will
merge with the existing Urology and Stoma framework contract in
February 2024 with optional extension periods.
Under the contract, NHS Supply Chain describes UroShield as a
disposable ultrasound device designed to reduce the risk of
catheter-associated urinary tract infection (CAUTI) by reducing
bacterial colonization and biofilm formation on indwelling urinary
catheters. This ultimately translates into improved outcomes for
patients and care providers, reduces the need for antibiotics,
catheter changes and washouts and incidence of hospital visits,
thereby reducing nursing time, bed days and ambulance
transfers.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220923005116/en/
Investor Contacts: Brett Maas, Managing Principal, Hayden IR,
LLC brett@haydenir.com (646) 536-7331
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