NanoVibronix Added an Additional National Payer Network in Workers’ Compensation Market

Rhea-AI Summary

NanoVibronix, Inc. (NASDAQ: NAOV) has signed a Provider Agreement with EZ Health Care, integrating into the EZ Workers’ Comp Network. This agreement aims to simplify the claims and reimbursement process for healthcare providers using PainShield under workers' compensation plans. CEO Brian Murphy stated that partnering with EZ Health Care will enhance PainShield's accessibility and promote non-opioid pain management.

With a focus on low-intensity surface acoustic wave technology, NanoVibronix continues to innovate in non-invasive pain relief solutions.

Positive

• Signed a Provider Agreement with EZ Health Care to streamline claims processing for PainShield.
• Enhances market position in the workers’ compensation sector.

Negative

• None.

Signs Provider Agreement with EZ Health Care

ELMSFORD, N.Y.--(BUSINESS WIRE)-- NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield® and PainShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced it has signed a Provider Agreement with EZ Health Care. Under the terms of the agreement, NanoVibronix has been added to the EZ Workers’ Comp Network, making it easier for healthcare providers to file claims and be reimbursed when prescribing PainShield for patients being treated under a workers’ compensation plan.

“This agreement advances our position in the workers’ compensation market and will help streamline the claims and reimbursement processes for providers who utilize PainShield as part of a patient’s treatment plan,” said Brian Murphy, CEO of NanoVibronix. “We are eager to leverage EZ Health Care’s vast network of providers to increase availability of PainShield and further educate the medical community of its benefits as a non-opioid treatment for pain.”

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 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) 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005496/en/

Investor Contact:

Brett Maas, Managing Principal, Hayden IR, LLC

brett@haydenir.com

(646) 536-7331

Source: NanoVibronix, Inc.

FAQ

What is the significance of the Provider Agreement between NanoVibronix and EZ Health Care?

The Provider Agreement simplifies the claims and reimbursement process for healthcare providers using PainShield, enhancing its market presence in workers' compensation.

How does the new agreement with EZ Health Care impact PainShield's accessibility?

The agreement increases PainShield's availability to healthcare providers, facilitating easier prescriptions and reimbursement under workers' compensation plans.

What market does NanoVibronix aim to penetrate with this agreement?

NanoVibronix aims to strengthen its position in the workers’ compensation market through the agreement with EZ Health Care.

What are the primary products of NanoVibronix?

NanoVibronix's primary products include PainShield and UroShield, both utilizing surface acoustic wave technology for therapeutic applications.