ELMSFORD, N.Y.--(BUSINESS WIRE)--NanoVibronix, Inc., (NASDAQ: NAOV) (the “Company”), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced it has signed a letter of intent with Medici Medical LTD (“Medici”), a leading distributor of medical products in the Israeli healthcare market, to explore the opportunities for distribution of the Company’s UroShield device in Israel.
Brian Murphy, Chief Executive Officer of NanoVibronix, Inc., commented, “Expanding distribution of our products with leading distributors is a key driver to accelerating market adoption of UroShield. Medici has established channels and is a leading partner for international pharmaceutical companies specializing in importing, marketing and distributing disposable medical devices. We look forward to advancing our relationship with Medici and potentially adding it to our roster of global distributors.”
Nufar Cohen, Chief Executive Officer of Medici, commented, “At Medici, we are constantly striving to supply creative and innovative solutions for the Israeli healthcare market. We are highly interested in UroShield and its reported benefits. We look forward to evaluating it further through our own market research.”
About Medici Medical LTD
Medici Medical Ltd was founded in 2005. As a leading partner for international pharmaceutical companies, we specialize in import, marketing and distribution. We are the exclusive partner of Sanofi Pasteur, Grifols, Boiron, Karo Pharma SteriSets and Premier Guard in Israel. We are positioned as a market leader for top quality biological products, including vaccines and blood products, and specialize in over-the-counter homeopathic remedies and disposable medical devices. We are constantly striving to supply creative and innovative solutions for the Israeli healthcare market keeping high standards of excellence, professionalism, responsibility and providing added value for our business partners.
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.
SOURCE: NanoVibronix, Inc.
Contacts
Investor Contact:
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com
(646) 536-7331
