NanoVibronix Reports Significant Progress with a Leading Global Consumer Healthcare Company
ELMSFORD, N.Y., Aug. 27, 2019 /PRNewswire/ -- NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the PainShield® surface acoustic wave (SAW) device, today announced significant progress with a leading global consumer healthcare company, Medisana, which has resulted in an initial Original Equipment Manufacturing (OEM) purchase order. The Company will commence the manufacture of a specialized product for Medisana based on its PainShield® device called the PT-100. The product will be sold directly and exclusively via Medisana.
Medisana is a 30-year-old leading specialist in the home health care market that develops, markets and sells products worldwide in the categories of Mobile Health, Health Control, Wellness, Therapy, Healthy Home, Regeneration and Personal Care for health-conscious consumers.
Brian Murphy, CEO of NanoVibronix Inc. said, "This is an amazing milestone for NanoVibronix and we are honored to be partnering with a formidable global leader like Medisana. This contract is the result of two years of hard work by both companies, and the culmination of many successful user-based trials. We hope that it can lead to greater successes and future collaboration and revenue over time."
Rafael Aviram, Vice President, Marketing & Innovation of Medisana, added, "We at Medisana are always looking to introduce cutting edge technology and innovation into our product portfolio, and we are confident that the Medisana PT 100 will be a very successful new member within our wide range of solutions. We welcome NanoVibronix and look forward to a prosperous cooperation together."
About NanoVibronix
NanoVibronix Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, which is focused on developing medical devices utilizing its proprietary and patented low intensity surface acoustic wave (SAW) technology. This technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including the disruption of biofilms and bacteria colonization, as well as providing 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™. Additional information about the Company 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 and 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) an 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 subcontractors for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for our products, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital may not be available, or may be costly, dilutive or difficult to obtain and (xiii) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. 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.
Investor Contacts:
Nanovibronix Inc
[email protected]
(630) 338-5022
Or:
Brett Maas, Managing Principal, Hayden IR, LLC
[email protected]
(646) 536-7331
SOURCE NanoVibronix, Inc.
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