NanoVibronix Extends Distribution Agreement with Its Largest Distributor for PainShield and PainShield Plus
23 Agosto 2023 - 7:45AM
Business Wire
Extension Provides for Guaranteed Purchase
Minimums
NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company
that produces the UroShield®, PainShield® and WoundShield® Surface
Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today
announced that it has conditionally extended its distribution
agreement with Ultra Pain Products, Inc. (“UPPI”) for the company’s
PainShield® and PainShield Plus®.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230823426842/en/
Wearable Ultrasound-PainShield MD (Photo:
Business Wire)
Under the terms of the extended agreement, UPPI will continue to
be the exclusive distributor of PainShield and PainShield Plus
devices to the Durable Medical Equipment distribution sector of the
healthcare market in the United States. The agreement provides for
an immediate re-stocking order and minimum purchase guarantees
through the end of 2023.
Brian Murphy, Chief Executive Officer of NanoVibronix, Inc.,
commented, “Since executing the original distribution agreement in
2020, UPPI has grown to be our largest distributor of PainShield
and PainShield Plus. The team at UPPI understands the importance of
providing clinicians and patients with non-narcotic/non-opiate
clinincally-supported modalities to reduce the economic burden on
the healthcare system and limit the amount of lost working days for
injured workers,1 which makes them a valuable channel for our
products.
“Our efforts to obtain full approval from the Centers for
Medicare & Medicaid Services (‘CMS’) continue. We submitted the
final report with our application to CMS in March 2023, and we
remain hopeful for a favorable outcome. If approved, reimbursements
could begin as early as October 1 of this year. The new agreement
with UPPI takes into consideration approval from CMS and provides
for modifications that consider the opportunities afforded through
reimbursement.”
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) market acceptance of our
existing and new products or lengthy product delays in key markets;
(ii) negative or unreliable clinical trial results; (iii) inability
to secure regulatory approvals for the sale of our products; (iv)
intense competition in the medical device industry from much
larger, multinational companies; (v) product liability claims; (vi)
product malfunctions; (vii) our limited manufacturing capabilities
and reliance on subcontractor assistance; (viii) insufficient or
inadequate reimbursements by governmental and/or other third party
payers for our products; (ix) our ability to successfully obtain
and maintain intellectual property protection covering our
products; (x) legislative or regulatory reform impacting the
healthcare system in the U.S. or in foreign jurisdictions; (xi) our
reliance on single suppliers for certain product components, (xii)
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; (xiii) 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 (xiv) 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.
______________________________ 1
https://ultrapainpro.com/about-us/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230823426842/en/
Investor Contact: Brett Maas, Managing Principal, Hayden
IR, LLC brett@haydenir.com (646) 536-7331
NanoVibronix (NASDAQ:NAOV)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
NanoVibronix (NASDAQ:NAOV)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024