Full Press Release Details
UroShield Approved for Sale through NHS Internal
Contract is Expected to Increase Availability and Expedite Distribution of UroShield Across the United Kingdom
N.Y., September 23, 2022 - NanoVibronix, Inc., (NASDAQ: NAOV),
a medical device company utilizing the Company's proprietary and patented low intensity surface acoustic wave (SAW) technology,
today announced its UroShield has been approved for sale by the U.K.'s National Health System's (NHS) internal supply organization,
NHS Supply Chain, through a new contract.
Murphy, CEO of NanoVibronix, stated, "This new contract with NHS Supply Chain provides dedicated end-to-end supply chain service
of our UroShield for every NHS healthcare organization. UroShield will be available to all patients who the need the device with full
clinical support, through the NHS supply chain. It represents a significant opportunity for us to expand distribution of UroShield as
it will now be made available to all clinicians and their patients through the NHS organization's own supply channel. NHS Supply
Chain manages the sourcing, delivery and supply of healthcare products and services for NHS trusts and healthcare organizations across
England and Wales. The organization processes more than eight million orders per year across 94,000 order points and 17,465 locations
serving as an integral part of the national healthcare system in the U.K. We are ramping up production to meet an increase in demand
that we anticipate as a result of this exciting development."
new contract, which is designed to provide new innovative products for healthcare providers, begins in October 2022 and will merge with
the existing Urology and Stoma framework contract in February 2024 with optional extension periods.
the contract, NHS Supply Chain describes UroShield as a disposable ultrasound device designed to reduce the risk of catheter-associated
urinary tract infection (CAUTI) by reducing bacterial colonization and biofilm formation on indwelling urinary catheters. This ultimately
translates into improved outcomes for patients and care provides, reduces the need for antibiotics, catheter changes and washouts and
incidence of hospital visits, thereby reducing nursing time, bed days and ambulance transfers.
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) the geographic, social and economic
impact of COVID-19 on the Company's ability to conduct its business and raise capital in the future when needed, (ii) market acceptance
of our existing and new products or lengthy product delays in key markets; (iii) negative or unreliable clinical trial results; (iv)
inability to secure regulatory approvals for the sale of our products; (v) intense competition in the medical device industry from much
larger, multinational companies; (vi) product liability claims; (vii) product malfunctions; (viii) our limited manufacturing capabilities
and reliance on subcontractor assistance; (ix) insufficient or inadequate reimbursements by governmental and/or other third party payers
for our products; (x) our ability to successfully obtain and maintain intellectual property protection covering our products; (xi) legislative
or regulatory reform impacting the healthcare system in the U.S. or in foreign jurisdictions; (xii) our reliance on single suppliers
for certain product components, (xiii) 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; (xiv) 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 (xv) 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