NanoVibronix Announces Exclusive Agreement for Distribution of PainShield® and WoundShield® in Israel
Jun. 05, 2018
ELMSFORD, N.Y., June 05, 2018 (GLOBE NEWSWIRE) -- NanoVibronix, Inc., (NASDAQ:NAOV), a medical device company utilizing the Company’s proprietary and patented low intensity surface acoustic wave (SAW) technology, today announced it has entered into an exclusive agreement with M.D.S. Pharm Ltd. to market and distribute NanoVibronix’s PainShield® and WoundShield® in Israel.
M.D.S. Pharm Ltd. is a leading distributor of medical equipment for home-care and self-diagnostics. An integral element of the company’s mission is to provide customers with alternatives to medication and/or pain relief drugs. M.D.S. has an established distribution network in Israel that includes health insurance providers, private pharmacies, health stores, beautician centers, private clinics, and leading health websites.
Dorit Grinberg, CEO of MDS Pharm Ltd. stated, “We are excited to partner with NanoVibronix to market and distribute PainShield and WoundShield in Israel. There is a growing body of clinical evidence that demonstrates the products’ ability to treat pain and induce soft tissue healing in targeted areas, in many cases as an alternative to opioids and other pain medications.”
Brian Murphy, CEO of NanoVibronix, commented, “We are excited to partner with M.D.S. in Israel, as they bring an established distribution network that spans a variety of sales channels, ranging from insurance and health care providers to retail pharmacies and stores, as well as a variety of online distribution points.”
PainShield and WoundShield are ultrasound devices each consisting of a reusable driver unit and a disposable patch, which contains a proprietary therapeutic transducer. PainShield and WoundShield deliver 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. PainShield, which has broad applications for sports injuries, has been acknowledged by several sports icons. Both PainShield and WoundShield 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 noted in our clinical studies include ease of application and use, faster recovery time, high compliance, and mechanisms of action that affect soft tissue repair.
NanoVibronix Inc. (NASDAQ: NAOV ) is a medical device company headquartered in Elmsford, NY with research and development in Nesher, Israel, that is focused on developing medical devices utilizing its proprietary and patented low intensity surface acoustic wave technology. The company's technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including the disruption of biofilms and bacteria colonization, as well as providing pain relief. The devices can be administered at home without the assistance of medical professionals. The company's primary products include PainShield®, UroShield™ and WoundShield™. Additional information about the company is available at: www.nanovibronix.com.
Forward-looking StatementsThis 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 and 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, (ii) negative clinical trial results or lengthy product delays in key markets, (iii) an 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 subcontractors for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for our products, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xiii) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. 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.
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