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NanoVibronix, Inc. announced that its PainShield product will be included in the U.S. Department of Veteran Affairs’ Federal Supply Schedule (FSS) effective May 1, 2024. The five-year contract awarded to distribution partner Delta Medical, will provide a significant opportunity for NanoVibronix to expand the placement of PainShield devices within the VA healthcare network, serving nine million enrolled veterans annually. The contract aims to address the growing need for non-pharmacological pain management solutions, positioning PainShield as a valuable therapeutic option.
NanoVibronix, Inc. ha annunciato che il suo prodotto PainShield sarà incluso nel Calendario di Fornitura Federale (FSS) del Dipartimento degli Affari dei Veterani degli Stati Uniti a partire dal 1° maggio 2024. Il contratto quinquennale, assegnato al partner di distribuzione Delta Medical, offrirà a NanoVibronix una significativa opportunità di espandere la distribuzione dei dispositivi PainShield all'interno della rete sanitaria VA, che serve annualmente nove milioni di veterani iscritti. Il contratto mira a soddisfare la crescente necessità di soluzioni per la gestione del dolore non farmacologiche, posizionando PainShield come un'opzione terapeutica preziosa.
NanoVibronix, Inc. anunció que su producto PainShield será incluido en el Programa de Suministros Federales del Departamento de Asuntos de Veteranos de EE. UU. a partir del 1 de mayo de 2024. El contrato de cinco años otorgado al socio de distribución Delta Medical, proporcionará una importante oportunidad para NanoVibronix de ampliar la colocación de dispositivos PainShield dentro de la red de atención sanitaria de la VA, que atiende anualmente a nueve millones de veteranos inscritos. El contrato tiene como objetivo abordar la creciente necesidad de soluciones de manejo del dolor no farmacológicas, posicionando a PainShield como una opción terapéutica valiosa.
NanoVibronix, Inc.는 2024년 5월 1일부터 미국 베테랑스 사무국의 연방 공급 일정(FSS)에 PainShield 제품이 포함될 것이라고 발표했습니다. 배포 파트너인 Delta Medical에 수여된 5년 계약은 NanoVibronix에게 VA 의료 네트워크 내에서 PainShield 장치의 배치를 확장할 중요한 기회를 제공할 것이며, 이 네트워크는 매년 900만명의 등록된 베테랑을 서비스합니다. 계약은 비약물적 통증 관리 해결책에 대한 증가하는 요구를 해결하고자 하며, PainShield를 귀중한 치료 옵션으로 위치시키고자 합니다.
NanoVibronix, Inc. a annoncé que son produit PainShield sera inclus dans le Calendrier des Fournitures Fédérales du Département des Anciens Combattants des États-Unis à partir du 1er mai 2024. Le contrat de cinq ans attribué au partenaire de distribution Delta Medical offrira à NanoVibronix une opportunité significative d'élargir le placement des dispositifs PainShield au sein du réseau de soins de santé VA, qui dessert annuellement neuf millions de vétérans inscrits. Le contrat vise à répondre au besoin croissant de solutions de gestion de la douleur non pharmacologiques, positionnant PainShield comme une option thérapeutique précieuse.
NanoVibronix, Inc. gab bekannt, dass ihr Produkt PainShield ab dem 1. Mai 2024 in den Bundeslieferplan (FSS) des US-amerikanischen Veteranenamtes aufgenommen wird. Der fünfjährige Vertrag mit dem Vertriebspartner Delta Medical bietet NanoVibronix eine bedeutende Möglichkeit, die Platzierung der PainShield-Geräte innerhalb des VA-Gesundheitsnetzwerks zu erweitern, das jährlich neun Millionen eingetragene Veteranen betreut. Der Vertrag zielt darauf ab, dem wachsenden Bedarf an nicht-pharmakologischen Schmerzmanagementlösungen gerecht zu werden und PainShield als wertvolle therapeutische Option zu positionieren.
Positive
Inclusion of NanoVibronix's PainShield product in the Department of Veteran Affairs' FSS contract provides a substantial opportunity for increased adoption and placement within the VA healthcare network.
Distribution partner Delta Medical's five-year FSS contract allows for pursuing sole source distribution agreements, enhancing access to at-home, low-frequency ultrasound therapy for veterans.
The contract with the VA creates potential for further partnerships and increased market presence, addressing the urgent need for non-pharmacological pain management solutions.
Negative
None.
Distribution Partner, Delta Medical, Awarded a Five-Year Federal Supply Schedule Contract for PainShield by Department of Veterans Affairs
ELMSFORD, N.Y.--(BUSINESS WIRE)--
NanoVibronix, Inc. (Nasdaq: NAOV) (“NanoVibronix,” or the “Company”), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that effective May 1, 2024, the Company’s PainShield product will be included in the U.S. Department of Veteran Affairs’ (“VA”) Federal Supply Schedule (“FSS”), a program that supports the healthcare acquisition needs of the VA and other government agencies.
Delta Medical, LLC, a service-disabled veteran-owned small business (“SDVOSB”) and distributor of the Company’s PainShield product (“Delta Medical”), was awarded a five-year FSS contract by the VA, that includes the Company’s PainShield product.
Brian Murphy, Chief Executive Officer of the Company commented, “As the largest integrated health care network in the U.S., the VA represents a massive opportunity for the placement of our PainShield devices. The VA serves nine million enrolled veterans each year and including our PainShield product in the FSS will help the VA meet its healthcare acquisition needs. Healthcare providers both within and outside of the VA are urgently seeking non-pharmacological treatment modalities for the management of pain, and PainShield is a proven therapeutic that directly addresses this growing need. We are energized by the possibilities for increased adoption with the award of this contract to Delta Medical.”
Justin A. Brooks, Principal Owner of Delta Medical commented, “As the sole set-aside and eligible SDVOSB that provides VA access to at-home, low-frequency ultrasound therapy, this contract will allow us to pursue sole source distribution agreements across the country. These sole source, set-aside, eligible agreements will allow us to better serve a larger veteran population while decreasing the financial and technical burden the VA experiences during the acquisition process for these types of medical devices. We are excited for this new chapter in our partnership with NanoVibronix and the VA community as a whole.”
About NanoVibronix
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 to 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 PainShield® product is a portable device 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) 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 U.S. or in foreign jurisdictions; (xi) our reliance on single suppliers for certain product components, (xii) 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; (xiii) 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 (xiv) 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.
