Full Press Release Details
Applies for Inclusion of UroShield Products in NHS Prescription Services' Drug Tariff
enables Reimbursement and Increased Distribution for NHS patients
N.Y., August 28, 2023 (Business Wire) - NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield ,
PainShield and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today provided an update on
its efforts to expand distribution of its UroShield family of products.
conjunction with the Company's UK distribution partner, Peak Medical Ltd, the Company submitted an application to The National
Health Service ("NHS") Prescription Services for reimbursement of its UroShield family of products. NHS Prescription Services'
primary function is to determine the reimbursement and remuneration due when prescriptions are dispensed outside hospitals anywhere in
England. All devices listed are nationally available on the NHS Drug Tariff. Listing of UroShield on the NHS Drug Tariff results in the
NHS paying the cost of the device and not the patient.
Murphy, Chief Executive Officer of NanoVibronix, Inc., commented, "We believe that inclusion in the NHS Drug Tariff enables UroShield
technology to be reimbursed and gain broader distribution through pharmacies. Doctors and specialist nurses will be able to prescribe
UroShield for patients who struggle with recurring catheter associated urinary tract infections (C-AUTI) and catheter blockages. This
submission represents yet another channel that we are pursuing to get our products into the hands of the many patients who could benefit
is a sampling of testimonials that the Company has received from patients and clinicians:
wife of one patient swears that without the use of the UroShield, her husband would no longer be with us, as he suffered multiple infections
and was resistant to many of the antibiotics. Since using the UroShield, he has not had any infections."
use of Uroshield device has been transformational to N. and made his care much more straight forward. Given that UroShield contributes
to a reduction in NHS resources, I strongly support the request for this to be provided by the NHS."
continued, "We are hopeful of receiving approval of our application in the near-term as it could open many more channels for our
UroShield products. Recent data from NHS indicates there were nearly 12,000 active community pharamacies and Dispensing Appliance Contractors
responsible for dispensing medications, applicances and medical devices to NHS patients.1 Expanding our addressable market
and points of distribution are essential to growing and scaling our business. If approved, this application could make it financially
feasible for an increasing number of patients to have access to UroShield."
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
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.
Maas, Managing Principal, Hayden IR, LLC