{"id":398162,"date":"2020-12-11T08:03:35","date_gmt":"2020-12-11T13:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398162"},"modified":"2020-12-11T08:03:35","modified_gmt":"2020-12-11T13:03:35","slug":"nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\/","title":{"rendered":"NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae"},"content":{"rendered":"

<\/p>\n

NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae<\/b><\/p>\n

Ultra Pain Products, Inc. to Distribute Company\u2019s Pain Management Devices to DME Market Under a Private Label in U.S.<\/b><\/i><\/p>\n

ELMSFORD, N.Y.–(BUSINESS WIRE<\/a>)–NanoVibronix, Inc.<\/a><\/span><\/b>, (NASDAQ: NAOV), a medical device company that produces the UroShield\u00ae, PainShield\u00ae and WoundShield\u00ae Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it has expanded and replaced its original distribution agreement with Ultra Pain Products, Inc. (\u201cUPPI\u201d). Under the terms of the new agreement, which extend the term and increase minimum purchase requirements, UPPI will be the exclusive distributor of privately labeled PainShield\u00ae and PainShield\u00ae PlusTM<\/sup> devices to the Durable Medical Equipment (DME) distribution sector of the healthcare market in the United States.\n<\/p>\n

\nEarlier this year, NanoVibronix officially phased out its original PainShield\u00ae DV0057 – and associated hydrogel patches with an updated version – the PainShield\u00ae 10-100-0008 \u2013 the PainShield\u00ae Kit: PainShield\u00ae.\n<\/p>\n

\nConsequently, NanoVibronix entered into a distribution agreement with UPPI granting UPPI the exclusive right to sell the updated PainShield\u00ae products to and through distributors within the DME sector.\n<\/p>\n

\n\u201cWithin a few short months after starting distribution of our PainShield\u00ae<\/sup> products under our original agreement, UPPI was already looking to exceed our minimum purchase requirements,\u201d stated Brian Murphy, CEO of NanoVibronix. \u201cIt is also worth noting that UPPI\u2019s robust DME channels of distribution seem to have delivered exceptional results despite various challenges in the current business environment stemming from the COVID-19 pandemic.\u201d\n<\/p>\n

\n\u201cMoving from a more traditional distribution to a private label arrangement is intended to better enable us to meet increased demand for our product, while leveraging Ultra Pain Products\u2019 extensive U.S. DME network and established billing capabilities across workers\u2019 compensation, motor vehicle, and private insurance,\u201d added Murphy. \u201cBy this new private label agreement, we have expanded our revenue opportunity with UPPI, effectively increasing what was an initial revenue target of $1.1 million over two years to $7.8 million over three years. Just as important, we continue to target additional markets outside of the DME segment for our newly redesigned PainShield products, especially veterans\u2019 facilities and the Department of Justice, as well as other specialty segments. The success and efficacy of the new PainShield has increased interest from new and existing distributors, as it has been shown to provide opioid-free pain relief for a wide variety of applications, administered at home, at a time when the need has never been greater for socially distanced administration. PainShield enables consumers to relieve pain while minimizing visits to the doctor or pain clinics, which is critical and necessary under social distancing restrictions. We are optimistic that this increased interest will result in increased sales.\u201d\n<\/p>\n

\nUnder the terms of the three-year agreement, the Company\u2019s PainShield\u00ae<\/sup> and PainShield\u00ae<\/sup> Plus TM<\/sup> will be sold solely within the domestic DME channel by Ultra Pain Products, Inc. under a private label through its U.S. distributor network. Additionally, UPPI is required to pay an up-front payment to NanoVibronix for the custom design of the privately labeled products and to meet quarterly and annual minimum purchase requirements in order to retain exclusive distribution rights within the territory. The company expects the initial sales to begin in the second quarter of 2021.\n<\/p>\n

\nPainShield is an ultrasound device, consisting of a reusable driver unit and disposables, which includes a proprietary therapeutic transducer and cover adhesive. PainShield delivers a localized ultrasound effect to treat pain and induce soft tissue healing in a targeted area, while keeping the level of ultrasound energy at a safe and consistent level. Its range of applications includes acute and chronic pain resolution through its many mechanisms of action. PainShield can be used by patients at home, work, or in a clinical setting. Most patients use PainShield even while the patient is sleeping. Patient benefits include ease of application and use, faster recovery time, high compliance, and increased safety and efficacy over existing devices that rely on higher-frequency ultrasound.\n<\/p>\n

\nThe company recently introduced its patent pending, PainShield Plus, which expands on the original technology, essentially doubling the surface area that can be treated for pain in the same amount of time. The devices provide an effective solution for avoiding opioid treatments and support social distancing by equipping patients to receive therapy independently in the comfort and safety of their own homes.\n<\/p>\n

About NanoVibronix, Inc.<\/b><\/p>\n

\nNanoVibronix, 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\u2019s primary products include PainShield\u00ae, UroShield\u00ae and WoundShield\u00ae, 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<\/a>.\n<\/p>\n

Forward-looking Statements<\/b><\/p>\n

\nThis press release contains \u201cforward-looking statements.\u201d Such statements may be preceded by the words \u201cintends,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cplans,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cprojects,\u201d \u201cpredicts,\u201d \u201cestimates,\u201d \u201caims,\u201d \u201cbelieves,\u201d \u201chopes,\u201d \u201cpotential\u201d 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\u2019s control, and cannot be predicted or quantified, and include, among others, statements regarding projected sales of PainShield\u00ae<\/sup> and PainShield\u00ae<\/sup> Plus to UPPI and others; 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\u2019s 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\u2019s filings with the Securities and Exchange Commission (SEC), including the Company\u2019s 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\u2019s web site at: http:\/\/www.sec.gov<\/a>. 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.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201211005092\/en\/<\/a><\/span><\/p>\n

Investor Contacts:
\n<\/b>
NanoVibronix, Inc.
\n
Brian Murphy
\n
bmurphy@nanovibronix.com
\n<\/a>
(630) 338-5022<\/p>\n

Or:<\/p>\n

Brett Maas, Managing Principal, Hayden IR, LLC
\n
brett@haydenir.com
\n<\/a>
(646) 536-7331\n<\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Medical Devices Health<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae Ultra Pain Products, Inc. to Distribute Company\u2019s Pain Management Devices to DME Market Under a Private Label in U.S. ELMSFORD, N.Y.–(BUSINESS WIRE)–NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield\u00ae, PainShield\u00ae and WoundShield\u00ae Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it has expanded and replaced its original distribution agreement with Ultra Pain Products, Inc. (\u201cUPPI\u201d). Under the terms of the new agreement, which extend the term and increase minimum purchase requirements, UPPI will be the exclusive distributor of privately labeled PainShield\u00ae and PainShield\u00ae PlusTM devices to the Durable Medical Equipment (DME) distribution sector of the healthcare market in the United States. … <\/p>\n

Continue reading “NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-398162","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae Ultra Pain Products, Inc. to Distribute Company\u2019s Pain Management Devices to DME Market Under a Private Label in U.S. ELMSFORD, N.Y.–(BUSINESS WIRE)–NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield\u00ae, PainShield\u00ae and WoundShield\u00ae Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it has expanded and replaced its original distribution agreement with Ultra Pain Products, Inc. (\u201cUPPI\u201d). Under the terms of the new agreement, which extend the term and increase minimum purchase requirements, UPPI will be the exclusive distributor of privately labeled PainShield\u00ae and PainShield\u00ae PlusTM devices to the Durable Medical Equipment (DME) distribution sector of the healthcare market in the United States. … Continue reading "NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-11T13:03:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201211005092r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae\",\"datePublished\":\"2020-12-11T13:03:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\\\/\"},\"wordCount\":1349,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201211005092r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nanovibronix-amends-and-expands-distribution-agreement-for-its-painshield-and-painshield-plus\\\/\",\"name\":\"NanoVibronix Amends and Expands Distribution Agreement for Its PainShield\u00ae and PainShield Plus\u00ae - 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(\u201cUPPI\u201d). 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