NanoVibronix Further Expands VA Distribution Network to Include SDVOSB Delta Medical, LLC
Delta Medical to Serve as Sub-Distributor to Applied Medical Solutions for Distribution of PainShield to Veterans Administration Facilities
ELMSFORD, N.Y.--(BUSINESS WIRE)--NanoVibronix Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield® and PainShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that Delta Medical, LLC, a Service-Disabled Veteran-Owned Small Business (“SDVOSB”) has been added to the company’s eco-system of distribution channels to help drive sales of its PainShield products to Veteran’s Administration hospitals and healthcare facilities.
Brian Murphy, Chief Executive Officer of NanoVibronix Inc., commented, "Delta Medical is owned and led by Justin A. Brooks, a highly-regarded, decorated veteran with years of medical device experience and an extensive network of relationships within the VA system. As a SDVOSB designated business, Justin’s firm is considered a ‘first priority’ by the VA before other small business program preferences with similar qualifications. The addition of Delta Medical to our team should significantly increase our ability to reach decision makers, which is instrumental in growing sales of PainShield devices to the VA.”
This announcement follows the recent signing of a distribution agreement with Applied Medical Solutions, LLC (“AMS”) for the sale and distribution of its PainShield products to Veterans Administration facilities located throughout the United States. Subsequent to that agreement, AMS has signed Delta Medical as a sub-distributor to help significantly expand its access to physicians at more than 1700 targeted VA facilities.
Justin A. Brooks, Principal Owner of Delta Medical, LLC, commented, “One in three veterans have been diagnosed with a condition related to chronic pain. Opioid-based pain treatments are commonly the prescribed solution, which often leads to dependency and in some cases to overdose. We are passionate about educating the public about non-opioid treatment alternatives that also improve the overall outcomes for veterans who suffer from chronically painful conditions. PainShield has shown to be effective at treating both chronic and acute pain, with no risk of abuse and promotes high patient compliance due to its small size and overall ease of use. We are eager to leverage our network to promote healing for veterans and expand penetration of PainShield products within the VA healthcare system.”
PainShield is an ultrasound device, consisting of a reusable driver unit and a disposable patch, which contains a proprietary therapeutic transducer. 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. The product has been acknowledged by several sports icons and has broad applications for sports injuries. PainShield can be used by patients at home or work or in a clinical setting and can be used 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.
About Delta Medical Group
Delta Medical Group is owned and operated by Justin A. Brooks, a decorated veteran of the US Army Infantry with more than a decade of medical device, private practice and consulting experience. The firm is focused on providing non-opioid therapeutic modalities for the management of chronic and acute pain within the Veterans Administration hospitals and clinics. Justin is committed to leveraging his experience and network to promote healing and education around opioid alternatives within the VA healthcare space.
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® and UroShield®, 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 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.
Brett Maas, Managing Principal, Hayden IR, LLC