NanoVibronix Secures $12 Million Minimum Purchase Commitment for PainShield with Extension of Distribution Agreement
11 Dezembro 2024 - 10:00AM
Business Wire
Extends Relationship with Ultra Pain Products,
Inc for Distribution of PainShield for Five Years
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 renewed its
exclusive distribution agreement with Ultra Pain Products, Inc.
(“UPPI”) for the distribution of the Company’s PainShield for
another five years.
Brian Murphy, CEO of NanoVibronix, commented, "We are thrilled
to extend our partnership with Ultra Pain Products for another five
years and secure a minimum purchase commitment of our products
valued at $12 million. UPPI’s impressive growth, transition into
manufacturing and dedication to innovation align perfectly with our
values and goals. Their ability to deliver affordable and effective
solutions to patients makes them an ideal partner to help us
continue to make a difference."
The Company’s decision to renew the distribution agreement comes
in recognition of UPPI’s remarkable growth over the past four years
and its evolution into a leading force in the non-opioid pain
management and injury recovery industry. The renewed agreement
underscores the continued collaboration between the two companies
and ensures that NanoVibronix’s proprietary PainShield product is a
part of Ultra Pain Products’ expanding portfolio of proven and
groundbreaking technologies.
Ari Alayev, President of Ultra Pain Products, commented, “We are
honored to continue our exclusive distribution agreement with
NanoVibronix. We view our partnership as a collaboration that
strengthens each organization’s impact in the market. This renewal
is a testament to our shared vision and the mutual trust we have
built over the past four years. We are excited to continue to offer
PainShield as part of our growing roster of innovative technologies
as we continue to expand our offerings and lead the charge in
non-opioid treatment options.”
The agreement reflects the companies’ mutual dedication to
supporting injury recovery and empowering patients with advanced
solutions that prioritize safety, efficacy, and accessibility.
Together, they remain committed to driving forward the non-opioid
treatment landscape in the U.S.
About NanoVibronix, Inc.
NanoVibronix, Inc. (NASDAQ: NAOV) is a medical device company
headquartered in Tyler, Texas, 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 continuous assistance of medical
professionals. The Company’s primary products include PainShield®
and UroShield®, which are portable devices suitable for
administration at home or in any care setting. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20241211270647/en/
Investor Contact: Brett Maas, Managing Principal, Hayden
IR, LLC brett@haydenir.com (646) 536-7331
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