NanoVibronix UroShield Products Available on NHS Drug Tariff Effective November 1
07 Noviembre 2023 - 7:30AM
Business Wire
Receives Stocking Order from U.K. Distribution
Partner in Anticipation of Increasing Demand
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 effective November 1, its UroShield
actuators are eligible for reimbursement on NHS Prescription
Services’ Drug Tariff.
NanoVibronix further confirms that it is has received a stocking
order from its U.K. distribution partner, Peak Medical Limited, to
stock products in anticipation of a significant increase in demand.
The company has already shipped products for this order.
Drug Tariff provides for full reimbursement of UroShield
actuators by the NHS effective November 1. Clinicians in the U.K.
can now prescribe the products, which are used in conjunction with
the UroShield device. Both hospital and community clinicians have
the option of prescribing UroShield either through the prescription
process or through the NHS procurement contract. Wherever a patient
is treated, they can now receive the full UroShield system with the
NHS paying the cost and not the patient.
Brian Murphy, Chief Executive Officer of NanoVibronix, Inc.,
said, “Achieving Drug Tariff listing is a clear step towards
broader distribution of UroShield and increasing sales. We are
already experiencing an uptick in demand since reimbursement became
effective on November 1. Our U.K. distribution partner, Peak
Medical Limited, has placed a first stocking order, and we have
ramped up production to meet the expected increase in demand. Our
UroShield products have demonstrated the safety, quality and
positive patient outcomes necessary to achieve Drug Tariff listing,
and we are confident that by increasing patient access through
reimbursement, practitioners will achieve improved outcomes for
their patients.”
Auriol Lawson, Managing Director of Peak Medical Limited,
commented, “We are delighted to work with NanoVibronix to offer its
UroShield products to a broader population in the U.K. now that
Drug Tariff reimbursement has become effective. UroShield has
proven to be effective and there is a population of patients that
could greatly benefit from using the device. We have an experienced
sales team that is already working to educate healthcare providers
on the product’s benefits and accept orders. We are pleased to
offer the UroShield products as part of our product portfolio.”
About NanoVibronix
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 to 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231107262123/en/
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com (646) 536-7331 SOURCE: NanoVibronix, Inc.
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