Under the Symbol:
NanoVibronix Signs Distribution Agreement with ProTrade Systems for PainShield(R) MD
Tuesday, August 13, 2019 11:30 AM
ELMSFORD, NY / ACCESSWIRE / August 13, 2019 / NanoVibronix, Inc., (NASDAQ:NAOV), a medical device company that produces the PainShield® surface acoustic wave (SAW) device, which utilizes the Company’s proprietary and patented low intensity, SAW (Surface Acoustic Wave) ultrasound technology, today announced that it has signed a distribution agreement with ProTrade Systems, a medical equipment distributor in the U.S. for thousands of patients, elite athletes, athletic trainers, professional teams, special military forces, orthopedic surgeons, sports medicine doctors, and physical therapists.
PainShield MD is a wearable therapeutic ultrasound device, which emits low level, low frequency therapeutic ultrasound to deliver fast pain relief for nerve and facilitating soft tissue repair.
ProTrade has established relationships with Worker’s Compensation, PiP, No Fault providers and Private insurance payors, as well as a network of other distributors who help amplify sales reach.
Brian Murphy, Chief Executive Officer of NanoVibronix Inc., commented, "ProTrade is the ideal distribution partner for us, with strong relationships and a great reputation with athletes, professional sports teams, and athletic trainers. This agreement is consistent with our strategy to partner with organizations that have significant sales resources to accelerate our penetration into targeted markets around the world. NanoVibronix is committed to help reduce the use of opioids, and we strongly believe putting innovative alternatives like our PainShield MD into the hands of patients is an important step to helping people recover after injury or surgery without addictive drugs.”
“PainShield provides so many advantages to other wearable devices, including a broad treatment area, minimal surface heat generation, all without the requirement for messy contact gels,” commented Vlad Moshe, President at ProTrade. “We expect PainShield MD to provide millions of people with pain relief with little or no use of opioids.”
NanoVibronix Inc. (NASDAQ:NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, which is focused on developing medical devices utilizing its proprietary and patented low intensity surface acoustic wave (SAW) technology. This 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.
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 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 or lengthy product delays in key markets; (ii) negative or unreliable clinical trial results (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 may not be available, or 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.
SOURCE: NanoVibronix, Inc.