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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), a medical device company, has signed a two-year agreement with Applied Medical Solutions to distribute its PainShield products to Veterans Administration facilities across the U.S. CEO Brian Murphy highlighted the opportunity to serve nine million veterans annually, emphasizing the growing demand for non-opioid pain management solutions. Initial sales indicate strong adoption within select VA facilities, which could positively impact revenue in the upcoming quarters. PainShield is an ultrasound device designed for pain treatment and soft tissue healing, enabling patient use at home or work.
NanoVibronix, Inc. (NASDAQ: NAOV) announced that its Special Meeting of Stockholders, initially set for December 21, 2021, has been adjourned due to a lack of quorum and will reconvene on December 29, 2021. During this period, the company will solicit proxies from stockholders regarding proposals in the proxy statement. Stockholders can vote online or by phone until December 28, 2021. NanoVibronix specializes in noninvasive medical devices targeting wound healing and pain therapy using ultrasound technology.
NanoVibronix Inc. (NASDAQ: NAOV) has announced the commencement of sales in Europe following a distribution agreement with Medina Healthcare Ltd in Malta. This partnership aims to leverage Medina's distribution capabilities to penetrate the European market. The company has regulatory approval to sell its products, including UroShield and PainShield, which address healthcare needs such as preventing infections and managing chronic pain. The initial order from Medina signifies confidence in NanoVibronix's technology and market potential.
NanoVibronix, a healthcare device company, is set to showcase its PainShield products at the Workers’ Compensation Institute’s 75th Annual Conference, happening from December 12-15, 2021 in Orlando, Florida. CEO Brian Murphy highlighted the significant opportunity in the workers' compensation market, emphasizing a new agreement that facilitates reimbursement for their devices. PainShield utilizes safe ultrasound technology for pain management and is designed for various settings, promoting ease of use and fast recovery.
NanoVibronix (NASDAQ: NAOV) announced positive interim results from an independent study on its UroShield device, highlighting a significant 1 log reduction in bacterial counts among patients. Conducted at Southampton University, the study aims to assess UroShield's effectiveness in preventing infections related to urinary catheters. Patients reported improved quality of life with the device. Southern Health is set to purchase UroShield for ongoing use after the study concludes in Q2 2022. The company emphasized the strong interest from clinical teams and patients during the study.
NanoVibronix, Inc. (NASDAQ: NAOV), a healthcare device company, reported accelerating sales of its PainShield device to the Veterans Administration (VA). CEO Brian Murphy noted that adoption is increasing, with higher reorders of accompanying disposables, indicating high patient satisfaction. The VA's commitment to non-opioid pain management creates significant growth opportunities for NanoVibronix, as it seeks to expand production capacity to meet rising demand. PainShield offers localized ultrasound therapy for various pain conditions, emphasizing compliance and safety over traditional methods.
NanoVibronix, Inc. (NASDAQ: NAOV) reported significant growth in its third quarter 2021, with revenues of $499,000, a 233% increase year-over-year. The company introduced a new CBD gel for pain management and expanded into the workers' compensation market. A backlog of orders exceeds $600,000, indicating strong sales momentum. Despite a net loss of $6.7 million, the balance sheet remains robust with $8.6 million in cash and no long-term debt. Future catalysts include new product launches and expanding markets.
NanoVibronix, Inc. (NASDAQ: NAOV) reported significant developments in its business update on October 28, 2021. Key highlights include the successful introduction of new products, PainShield Plus and PainShield Relief, along with advancements in reimbursement efforts for the PainShield™ product, which now has a dedicated Medicare code. Despite ongoing supply chain challenges, the company expects to fulfill order backlogs by Q4 2021. Clinical studies have shown high effectiveness for PainShield™, with a 92% success rate in treating Tennis Elbow. Financially, NanoVibronix maintains a robust balance sheet with $8.6 million in cash and no debt.
NanoVibronix (NASDAQ: NAOV) announced promising results from a study on its PainShield device for treating tennis elbow (lateral epicondylitis). Conducted at Birmingham Orthopedic and Sports Specialists, the randomized trial showed that 91% of patients experienced complete or partial symptom resolution after using PainShield, along with over-the-counter medications. The device proved safe and effective, requiring no opioids. CEO Brian Murphy emphasized its ease of use and efficacy, while Lead Investigator Dr. David Lemak noted significant patient outcomes without prescription medications.
NanoVibronix, Inc. (NASDAQ: NAOV) has signed a Provider Participation Agreement with Orchid Medical, enhancing access to its PainShield® product for workers' compensation beneficiaries. This partnership marks NanoVibronix's entry into the workers' compensation market, streamlining reimbursement for eligible patients. Under the two-year agreement, the company will provide initial supply kits at a fixed price, with annual renewals. PainShield is designed for pain management and is suitable for home or clinical use, offering benefits such as faster recovery times and increased safety.
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