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NanoVibronix, Inc. (NASDAQ: NAOV) is a forward-thinking medical device company specializing in the development and commercialization of innovative products that leverage its proprietary low-intensity acoustic technology. Located in Elmsford, NY, with a subsidiary, NanoVibronix Ltd., based in Nesher, Israel, the company aims to revolutionize the medical field with cost-effective therapeutic ultrasound applications.
NanoVibronix's groundbreaking technology enables the creation of miniature transducers that transmit low-frequency, low-intensity ultrasound through flexible material surfaces. This unique feature is integral to a range of products designed for various medical applications, particularly those requiring noninvasive methods.
The company's flagship products include:
- PainShield®: A patch-based device carrying FDA clearance, designed for pain management through the delivery of therapeutic ultrasound.
- UroShield®: A device aimed at preventing biofilm formation and reducing urinary tract infections associated with catheter use.
- WoundShield®: A device that promotes wound healing by transmitting low-frequency ultrasound waves to stimulate tissue regeneration.
NanoVibronix's products are designed for home use, enabling patients to receive therapy without the need for medical professionals. This approach not only enhances patient convenience but also reduces healthcare costs.
In addition to its direct-to-patient sales, NanoVibronix partners with distributors to expand its market reach. The company's recent achievements include securing FDA clearance for PainShield® and forming strategic partnerships to enhance product distribution.
Overall, NanoVibronix, Inc. stands out for its innovative approach to medical device technology, focusing on noninvasive solutions for pain management, biofilm prevention, and wound healing, making significant strides in improving patient outcomes.
NanoVibronix, Inc (NASDAQ: NAOV) released a shareholder letter detailing the company's performance in 2022 and its prospects for 2023. Despite challenges, including regulatory delays that caused a revenue drop of approximately $900,000, the company has made strategic advancements, such as transitioning to a more effective distributor and reintroducing PainShield Plus. Positive clinical evaluations highlight the effectiveness of UroShield, showing improved patient outcomes and satisfaction. The company is focused on increasing distribution, particularly in VA hospitals, and expanding its international presence. Financially, the company ended 2022 with $2.7 million in cash and invested $2.4 million in inventory to support future sales. NanoVibronix emphasizes a strong potential for growth in 2023, with ongoing product studies and new contracts expected to drive revenue.
NanoVibronix, Inc. (NASDAQ: NAOV) announced successful independent life expectancy testing for its PainShield device, affirming that it met all functionalities required. The testing, conducted by Carmel Labs in Israel, confirms the device’s reliability. CEO Brian Murphy indicated that the results will support their pending application for Medicare coverage, following a prior denial in September 2022 due to insufficient data. This advancement is expected to enhance the product's market availability and potential reimbursement opportunities.
NanoVibronix, Inc. (NASDAQ: NAOV) has filed a provisional patent application for its enhanced UroShield device, titled "Multiple Frequency Surface Acoustic Waves for Internal Medical Device." The newly developed UroShield Ultra aims to improve catheter coupling and reduce bacterial infections with multiple actuators operating at various frequencies. CEO Brian Murphy emphasized its role in preventing Catheter Associated Urinary Tract Infections (CAUTI), a leading source of hospital-acquired infections. This innovation strengthens NanoVibronix's intellectual property portfolio and its position in the medical device market.
NanoVibronix, Inc. (NASDAQ: NAOV) announced positive evaluation results for its UroShield device at a recent medical conference. The report, conducted by clinicians from the Royal National Orthopaedic Hospital, indicates a decrease in blockages and infections, as well as increased patient satisfaction with catheters. The device is believed to improve quality of life and reduce healthcare costs for patients with spinal cord injuries. CEO Brian Murphy emphasized the significant market opportunity, as approximately 285,000 individuals in the U.S. and 50,000 in the UK live with such injuries.
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