NanoVibronix, Inc. (NASDAQ: NAOV), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that its UroShield urology therapy device has been added to the Federal Supply Schedule through a service disabled veteran organization, thus making it easier for Veterans being treated by the Veterans Administration to secure and utilize the UroShield. On September 1, 2019, NanoVibronix's other proprietary device, the PainShield, was placed on the Federal Supply schedule insuring veterans access to a non-opioid pain therapy.
Veterans currently using indwelling Foley catheters are now able to receive UroShield to prevent Catheter Associated Urinary Tract Infections. It is estimated that 40 million Americans annually undergo Urinary Catheterization and Catheter-associated Urinary Tract Infections (CAUTI) is the leading cause of secondary hospital-acquired bloodstream infection. Estimates suggest that more than 500,000 episodes of CAUTI occur annually in the U.S. alone with more than 8,000 deaths related to the infection. UroShield is a disposable ultrasound device designed to reduce biofilm, this is accomplished by generating and propagating low frequency low intensity ultrasonic energy throughout the catheter. The Ultrasound interferes with the bacteria’s touch sensors discouraging bacterial docking on the catheter and leading to reduction of bacterial colonization and biofilm, thereby reducing risk of CAUTI. UroShield can be attached to any indwelling urinary catheter, transforming it into a therapeutic device. The UroShield can relieve Foley catheter pain, reduce urinary tract infections, alleviate spasms, and help any inconveniences caused by using any type of indwelling urinary catheter. As of March 1, 2021, veterans now have access to the UroShield to not only prevent CAUTIs, but also has the potential to prevent hospitalizations. Especially during the COVID-19 pandemic when the healthcare community is focusing on utilizing hospital beds for COVID patients.
“This is an important milestone for NanoVibronix, further expanding our addressable market and making it easier for us to bring innovative solutions to Veterans to prevent unnecessary hospitalization and the risk of dangerous infections,” stated Brian Murphy, CEO of 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 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.
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.