NanoVibronix Signs Letter of Intent with Potential New Distributor

Rhea-AI Summary

NanoVibronix, Inc. (NASDAQ: NAOV) has signed a letter of intent with Medici Medical , a leading distributor of medical products in Israel, to explore distribution opportunities for its UroShield device in the Israeli healthcare market. This potential partnership aligns with NanoVibronix's strategy to expand distribution and accelerate market adoption of UroShield through established channels.

Brian Murphy, CEO of NanoVibronix, emphasized the importance of partnering with leading distributors to drive market adoption. Medici's CEO, Nufar Cohen, expressed interest in UroShield's reported benefits and plans to evaluate it further through market research. Medici specializes in importing, marketing, and distributing disposable medical devices and has established partnerships with international pharmaceutical companies.

Positive

• Potential expansion of UroShield distribution in the Israeli market
• Partnership with a leading medical product distributor in Israel
• Alignment with company strategy to accelerate market adoption

Negative

• None.

ELMSFORD, N.Y.--(BUSINESS WIRE)-- NanoVibronix, Inc., (NASDAQ: NAOV) (the “Company”), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced it has signed a letter of intent with Medici Medical LTD (“Medici”), a leading distributor of medical products in the Israeli healthcare market, to explore the opportunities for distribution of the Company’s UroShield device in Israel.

Brian Murphy, Chief Executive Officer of NanoVibronix, Inc., commented, “Expanding distribution of our products with leading distributors is a key driver to accelerating market adoption of UroShield. Medici has established channels and is a leading partner for international pharmaceutical companies specializing in importing, marketing and distributing disposable medical devices. We look forward to advancing our relationship with Medici and potentially adding it to our roster of global distributors.”

Nufar Cohen, Chief Executive Officer of Medici, commented, “At Medici, we are constantly striving to supply creative and innovative solutions for the Israeli healthcare market. We are highly interested in UroShield and its reported benefits. We look forward to evaluating it further through our own market research.”

About Medici Medical LTD

Medici Medical Ltd was founded in 2005. As a leading partner for international pharmaceutical companies, we specialize in import, marketing and distribution. We are the exclusive partner of Sanofi Pasteur, Grifols, Boiron, Karo Pharma SteriSets and Premier Guard in Israel. We are positioned as a market leader for top quality biological products, including vaccines and blood products, and specialize in over-the-counter homeopathic remedies and disposable medical devices. We are constantly striving to supply creative and innovative solutions for the Israeli healthcare market keeping high standards of excellence, professionalism, responsibility and providing added value for our business partners.

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® 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.

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.

SOURCE: NanoVibronix, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240923440300/en/

Investor Contact:

Brett Maas, Managing Principal, Hayden IR, LLC

brett@haydenir.com

(646) 536-7331

Source: NanoVibronix, Inc.

FAQ

What is the purpose of NanoVibronix's letter of intent with Medici Medical ?

The letter of intent aims to explore opportunities for distributing NanoVibronix's UroShield device in the Israeli healthcare market through Medici Medical , a leading medical product distributor in Israel.

How does this potential partnership align with NanoVibronix's (NAOV) strategy?

This partnership aligns with NanoVibronix's strategy to expand distribution and accelerate market adoption of UroShield by partnering with leading distributors who have established channels in their respective markets.

What is Medici Medical 's role in the Israeli healthcare market?

Medici Medical is a leading distributor of medical products in Israel, specializing in importing, marketing, and distributing disposable medical devices. They are a partner for international pharmaceutical companies in the Israeli market.

What is the next step for NanoVibronix (NAOV) and Medici Medical after signing the letter of intent?

Medici Medical plans to evaluate UroShield further through their own market research to assess its potential in the Israeli healthcare market.