NanoVibronix Adds Additional Product to Federal Supply Schedule

Rhea-AI Summary

NanoVibronix, Inc. (NASDAQ: NAOV) announced the addition of its PainShield Plus and PainShield Monthly Kit to the Federal Supply Schedule, expanding access for veterans to non-opioid pain therapy products. This move joins the existing UroShield and PainShield MD devices, enhancing treatment options available to veterans while addressing the opioid crisis.

The PainShield Plus offers ultrasound therapy for pain management without gels, promoting safety and ease of use at home, allowing for faster recovery and higher patient compliance.

Positive

• PainShield Plus and PainShield Monthly Kit added to Federal Supply Schedule, increasing market reach.
• Addresses need for non-opioid pain therapy options for veterans.
• Products promote faster recovery and higher patient compliance from home.

Negative

• None.

PainShield Plus and PainShield Monthly Kits Join UroShield and PainShield MD with Access to VA Market

ELMSFORD, N.Y.--(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 announced that its PainShield Plus and PainShield Monthly Kit products have been added to the Federal Supply Schedule (FSS) through a service disabled veteran organization. With these recent additions, NanoVibronix is able to make three of its leading products available to veterans, increasing access to non-opioid pain therapy and delivering positive patient outcomes. The two new products join the Company’s UroShield urology therapy device and original PainShield MD product on the FSS.

PainShield Plus utilizes ultrasound therapy for the treatment of pain and various soft tissue injuries either directly over joints or orthopedic hardware and without the need for messy ultrasound gels. The device is an effective solution for avoiding opioid treatments and supports social distancing by equipping patients to receive therapy independently in the comfort and safety of their own homes. Patient benefits include ease of application and use, faster recovery time, high compliance, and increased safety and efficacy over existing devices that rely on higher-frequency ultrasound.

“Our new additions to the FSS are an important achievement for NanoVibronix, further broadening our portfolio of products and the treatment options available to Veterans,” stated Brian Murphy, CEO of NanoVibronix. “We believe that our products deliver superior therapeutic value and are safe, easy-to-use, and highly effective in treating soft tissue pain. We are strongly encouraged by the early adoption that our products have received at the VA and look forward to further educating this important market on their long-term benefits.”

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®, UroShield® and WoundShield®, all of 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, e.g., 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/20220425005553/en/

Investor Contacts:

NanoVibronix, Inc.

bmurphy@nanovibronix.com

(630) 338-5022

Or:

Brett Maas, Managing Principal, Hayden IR, LLC

brett@haydenir.com

(646) 536-7331

Source: NanoVibronix, Inc.

FAQ

What recent products were added by NanoVibronix to the Federal Supply Schedule?

NanoVibronix added the PainShield Plus and PainShield Monthly Kit to the Federal Supply Schedule.

How does PainShield Plus work?

PainShield Plus utilizes ultrasound therapy for pain treatment without the need for gels, allowing for easier home use.

What is the significance of the new additions for veterans?

The new products provide veterans with access to non-opioid pain management options, addressing the opioid crisis.

What existing products were already on the Federal Supply Schedule before the recent additions?

Prior to the recent additions, UroShield and PainShield MD were already on the Federal Supply Schedule.

What benefits do the PainShield devices offer?

The devices promote faster recovery, high compliance, and safety for patients using them at home.