NanoVibronix Announces Distribution Agreement with VA Supplier CB Medical for the Distribution of UroShield
NanoVibronix (NASDAQ: NAOV) announced a distribution agreement with CB Medical, a VA-certified and Service-Disabled Veteran-Owned Small Business, for the sale and distribution of UroShield. UroShield, an ultrasound-based device, helps prevent bacterial colonization on urinary catheters, reduces catheter-associated urinary tract infections (CAUTI), and alleviates pain and discomfort. The multi-year agreement allows CB Medical to sell UroShield throughout the VA system in the U.S. Brian Murphy, CEO of NanoVibronix, highlighted the opportunity to expand UroShield's distribution and benefit veterans. Shawn Pinkston, CEO of CB Medical, emphasized the importance of offering effective solutions to veterans, especially those with spinal injuries who use indwelling catheters and are at high risk of infection.
- Distribution agreement expands UroShield's market reach within the VA system.
- CB Medical brings two decades of experience serving veterans.
- UroShield helps prevent CAUTI and reduces discomfort, potentially increasing its adoption.
- Agreement with a VA-certified and SDVOSB company can enhance credibility and trust.
- Broader distribution can lead to increased revenues for NanoVibronix.
- No specific financial terms of the distribution agreement disclosed.
- Success depends on the adoption rate within the VA system, which is uncertain.
- Potential competition from similar products in the market.
- Reliance on a single distributor could pose risks if the partnership faces issues.
Insights
The distribution agreement between NanoVibronix and CB Medical positions UroShield to gain a significant market within the U.S. Department of Veteran Affairs system. This partnership is strategic because it targets a vulnerable population—veterans with high healthcare needs, including those with spinal injuries who often use indwelling catheters. The UroShield device's clinical benefits, such as reduced infection rates and pain, align well with the VA's objectives of improving veteran care. Additionally, CB Medical's status as a Veteran-Owned Small Business could expedite the adoption and integration of UroShield within the VA network.
For investors, this agreement enhances NanoVibronix's market penetration and revenue potential. The collaboration could lead to expanded sales channels and higher product visibility, especially considering the VA's significant annual spending on veteran healthcare. However, the agreement's multi-year nature implies that tangible financial benefits may accrue gradually rather than immediately.
Long-term implications: The VA's endorsement of UroShield could serve as a validation of the product, leading to increased trust and potential adoption in other healthcare sectors.
This agreement is a noteworthy advancement for NanoVibronix because the VA healthcare system is one of the largest in the U.S. The VA's endorsement and distribution can significantly amplify UroShield's market reach. By tapping into this extensive network, the company can potentially achieve substantial market growth. Moreover, the VA's focus on high-quality, evidence-based treatments aligns well with UroShield's promise to reduce catheter-associated urinary tract infections (CAUTIs) and increase patient comfort.
From a market perspective, the focus on urinary catheters is a smart move. The catheter market is vast, with millions of units used annually, providing a substantial opportunity for NanoVibronix. The product's ability to prevent infections and reduce pain could make it an attractive addition to any healthcare provider's catalog, not just the VA's. However, successful market penetration will depend on real-world efficacy data and acceptance by healthcare professionals.
Short-term implications: While the agreement itself may not result in immediate financial gains, it sets the stage for increased market penetration and future revenue growth.
UroShield is an ultrasound-based product designed to prevent bacterial colonization and biofilm on indwelling urinary catheters and increase antibiotic efficacy, ultimately reducing the incidence of catheter-associated urinary tract infections (CAUTI). UroShield is also intended to decrease pain and discomfort associated with urinary catheter use.
CB Medical is a
Brian Murphy, Chief Executive Officer of NanoVibronix, Inc., commented, "This new agreement provides us with another distribution channel for UroShield within the VA system of providers. CB Medical has a national presence and is committed to helping veterans and active-duty members gain access to beneficial treatments. With millions of urinary catheters used both in and outside of hospitals every year, the risk of infection can be high. UroShield not only prevents infection but can also reduce the pain associated with urinary catheters. We are pleased to be able to add UroShield to CB Medical’s catalog for the benefit of veterans and to advance our efforts towards achieving broader distribution.”
Shawn Pinkston, President and Chief Executive Officer of CB Medical, commented, “We are committed to bringing world-class medical supplies and treatments to beneficiaries of the VA system. There are many veterans, particularly those with spinal injuries, who live with indwelling catheters and are therefore at constant risk of infection. We are pleased to now offer UroShield as both a preventative device for infection and to help reduce the discomfort of living with a urinary catheter.”
About NanoVibronix
NanoVibronix, Inc. (Nasdaq: NAOV) is a medical device company headquartered in
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) 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240514869740/en/
Investor Contacts:
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com
(646) 536-7331
Source: NanoVibronix, Inc.
FAQ
What is the recent distribution agreement between NanoVibronix and CB Medical about?
What is UroShield and its benefits?
What company is distributing UroShield under the new agreement?
Why is the agreement with CB Medical significant for NanoVibronix?
What experience does CB Medical have with the VA system?
