NanoVibronix Extends Reach of UroShield and PainShield through MTSG’s International Network

Rhea-AI Summary

NanoVibronix, Inc. (NASDAQ: NAOV) has entered into an International Marketing, Sales and Clinical Management Agreement with Medtech Solutions Group (MTSG), enabling MTSG to sell the company's UroShield® and PainShield® devices across Europe, Asia Pacific, Africa, Central and South America, and parts of the Middle East, excluding specific countries.

This strategic partnership is poised to significantly expand NanoVibronix's market reach, potentially benefiting millions of patients and driving international revenue growth.

Positive

• International agreement expands market reach, potentially increasing revenue by tens of millions.
• Access to MTSG's established distribution network for effective commercialization.

Negative

• None.

Signs International Marketing, Sales and Clinical Management Agreement with Medtech Solutions Group

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 an International Marketing, Sales and Clinical Management Agreement with Medtech Solutions Group (“MTSG”), a leader in the commercialization of healthcare technologies.

The agreement allows MTSG to commercialize UroShield® and PainShield® throughout Europe, excluding the United Kingdom, Ireland, Malta and Turkey; Asia Pacific, Africa, Central and South America and certain parts of the Middle East. This agreement expands the Company’s addressable market by tens of millions of dollars and should enable availability of its products to new populations of patients.

“The agreement with MTSG represents an important milestone for our Company,” said Brian Murphy, CEO of NanoVibronix. “For the first time in company history, our products are now expected to be introduced around the world to millions of new patients through qualified distributors and dealers. MTSG team members have more than seven decades of global success in launching products and brand expansion for leading brands and healthcare products. We are pleased to add UroShield® and PainShield® to their portfolio and look forward to working closely with them to achieve mutual success. We are excited to introduce our products to their vast, existing distribution network through their sales professionals.”

Ron Dziedziula, Chief Operating Officer of MTSG, stated, “We are eager to work with NanoVibronix to accelerate the growth of UroShield® and PainShield® globally. Our team has a proven history of partnering with our clients and our expanding network of distributors to develop and implement marketing, sales and clinical strategies that increase product placements and drive international revenue growth for the clients we serve. We look forward to doing the same for NanoVibronix.”

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.

About MedTech Solutions Group

MedTech Solutions Group (MTSG) is a private company headquartered in San Antonio, Texas with regional offices in London, England, Munich, Germany, Brisbane, Australia, and Mexico City, Mexico. MTSG was founded to provide medical device manufacturers with an option to contract with an experienced team already in place around the world to accelerate the international revenue of our clients’ brands. MTSG grows our clients brands at a country level through an expanding network of professional distributors who know their markets; led by the Regional MTSG Team Member who works with their distributor partners to grow MTSG managed brands; supported by HQ MTSG Team Members who manage the overall execution of the commercialization plan for each client.

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/20220124005473/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 the agreement between NanoVibronix and Medtech Solutions Group?

The agreement allows Medtech Solutions Group to market and sell NanoVibronix's products globally, expanding their market reach significantly.

How will the partnership with MTSG affect NanoVibronix's market presence?

The partnership is expected to introduce NanoVibronix's products to millions of new patients, significantly increasing their market presence.

Which regions will the UroShield® and PainShield® devices be available through MTSG?

The devices will be available in Europe (excluding UK, Ireland, Malta, Turkey), Asia Pacific, Africa, Central and South America, and parts of the Middle East.

What products are included in the agreement with Medtech Solutions Group?

The agreement includes NanoVibronix's UroShield® and PainShield® Surface Acoustic Wave Portable Ultrasonic Therapeutic Devices.

What potential impact does this agreement have on NanoVibronix's revenue?

The agreement is expected to expand NanoVibronix’s addressable market by tens of millions, potentially increasing revenue.