NanoVibronix Announces Partnership with Peak Medical, Ltd.

Rhea-AI Summary

NanoVibronix, Inc. (NASDAQ: NAOV) has partnered with Peak Medical, Ltd. to enhance distribution capabilities for its continence care products in the UK. This collaboration follows NHS Supply Chain Approval, allowing Peak Medical to sell the UroShield device, aimed at reducing risks associated with Catheter Associated Urinary Tract Infections (CAUTIs). With strong demand from the National Health Service, the partnership is expected to boost product uptake and improve patient care.

Positive

• Partnership with Peak Medical enhances distribution channels in the UK.
• UroShield device received NHS Supply Chain Approval, opening new sales opportunities.
• Expected strong uptake of UroShield due to patient demand.

Negative

• None.

Leading UK Manufacturer and Distributor of Continence Care Products Expands Distribution Capabilities Following Recent NHS Supply Chain Approval

ELMSFORD, N.Y.--(BUSINESS WIRE)-- NanoVibronix, Inc. (NASDAQ: NAOV), a medical device company utilizing the Company's proprietary and patented low intensity surface acoustic wave (SAW) technology, today announced that it has partnered with Peak Medical, Ltd., a continence care patient focused company based in the United Kingdom.

“We are enthusiastic about partnering with Peak Medical, a company that provides first class products and services for catheter and continence care to NHS hospitals and communities throughout the United Kingdom,” stated Brian Murphy, Chief Executive Officer of NanoVibronix. “Peak Medical has a management team with vast experience in urological medicine leading a team of significant sales and marketing resources with strong distribution capabilities throughout the UK and Ireland.”

Paul Newman, Commercial Director of Peak Medical Ltd., commented, “We anticipate a strong uptake of UroShield given patient demand for the device in the National Health Service. The UroShield device has been progressed by the NHS National Institute for Health and Care Excellence (NICE) and has recently been approved for sale through a contract with the NHS Supply Chain.

“Our experienced sales team are exclusively focused on catheter and stoma care products and passionately believe patients and clinicians deserve products which allow the best quality of life and ease of use.

“The UroShield device comes at a pivotal time for long-term catheter patients, living in their own homes, nursing homes, long-term care facilities, or hospitals who are at risk of Catheter Associated Urinary Tract Infections (CAUTIs) and catheter blockage. UroShield enables clinicians to potentially prevent the incidence of infections and catheter blockages in the most vulnerable patients that further complicates their care, extends the duration of hospital stays or increases the risk of readmission when it is critical for our healthcare system to maximize its limited resources.”

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/20221213005700/en/

Investor Contacts:

Brett Maas, Managing Principal, Hayden IR, LLC

brett@haydenir.com

(646) 536-7331

Source: NanoVibronix, Inc.

FAQ

What is the significance of NanoVibronix's partnership with Peak Medical?

The partnership enhances distribution capabilities for UroShield in the UK, following its approval by NHS Supply Chain.

What is the UroShield device used for?

UroShield is designed to reduce risks associated with Catheter Associated Urinary Tract Infections (CAUTIs) in long-term catheter patients.

How does NHS Supply Chain Approval impact NanoVibronix?

NHS Supply Chain Approval allows NanoVibronix to expand sales opportunities for its UroShield device in NHS hospitals and communities.

What stock symbol is associated with NanoVibronix?

The stock symbol for NanoVibronix is NAOV.