NanoVibronix Announces Distribution Agreement with VA Supplier CB Medical for the Distribution of UroShield
May 14 2024 - 7:30AM
Business Wire
NanoVibronix, Inc. (Nasdaq: NAOV) (“NanoVibronix,” or the
“Company”), a medical device company that produces the UroShield®,
PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable
Ultrasonic Therapeutic Devices, today announced that it has entered
into a distribution agreement with CB Medical, LLC (“CB Medical”)
for the sale and distribution of the Company’s UroShield.
UroShield is an ultrasound-based product designed to prevent
bacterial colonization and biofilm on indwelling urinary catheters
and increase antibiotic efficacy, ultimately reducing the incidence
of catheter-associated urinary tract infections (CAUTI). UroShield
is also intended to decrease pain and discomfort associated with
urinary catheter use.
CB Medical is a U.S. Department of Veteran Affairs (“VA”)
certified and Service-Disabled Veteran-Owned Small Business
(“SDVOSB”) with two decades of experience serving veterans. Founded
by an Iraq War veteran, CB Medical is committed to helping veterans
and active-duty members live pain free. Under the terms of the
multi-year agreement, CB Medical has the right to sell and
distribute UroShield to its customers throughout the VA system in
the United States.
Brian Murphy, Chief Executive Officer of NanoVibronix, Inc.,
commented, "This new agreement provides us with another
distribution channel for UroShield within the VA system of
providers. CB Medical has a national presence and is committed to
helping veterans and active-duty members gain access to beneficial
treatments. With millions of urinary catheters used both in and
outside of hospitals every year, the risk of infection can be high.
UroShield not only prevents infection but can also reduce the pain
associated with urinary catheters. We are pleased to be able to add
UroShield to CB Medical’s catalog for the benefit of veterans and
to advance our efforts towards achieving broader distribution.”
Shawn Pinkston, President and Chief Executive Officer of CB
Medical, commented, “We are committed to bringing world-class
medical supplies and treatments to beneficiaries of the VA system.
There are many veterans, particularly those with spinal injuries,
who live with indwelling catheters and are therefore at constant
risk of infection. We are pleased to now offer UroShield as both a
preventative device for infection and to help reduce the discomfort
of living with a urinary catheter.”
About NanoVibronix
NanoVibronix, Inc. (Nasdaq: NAOV) is a medical device company
headquartered in Tyler, Texas, 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 PainShield® product is a portable
device 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240514869740/en/
Investor Contacts: Brett Maas, Managing Principal, Hayden
IR, LLC brett@haydenir.com (646) 536-7331
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From Oct 2024 to Nov 2024
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From Nov 2023 to Nov 2024