NanoVibronix Announces Instrumed Surgical as its Exclusive Canadian Distributor for UroShield(TM)
ELMSFORD, NY–(Marketwired – April 05, 2018) – NanoVibronix, Inc. (NASDAQ: NAOV), a medical device company utilizing the Company’s proprietary and patented low intensity surface acoustic wave (SAW) technology, today announced it has signed Instrumed Surgical of Mississauga, Ontario, Canada as its exclusive distributor for UroShield™ products in the Canada. Instrumed Surgical is a privately held Canadian company focusing on the surgical and endoscopy segments of the Canadian medical products market. Instrumed Surgical has been selling medical products in Canada since its inception in 1987 and is both ISO 13485 certified as well as Health Canada approved.
UroShield™ is an ultrasound-based product that is designed to prevent bacterial colonization and biofilm on indwelling urinary catheters and increase antibiotic efficacy, ultimately reducing the incidence of catheter-associated urinary tract infections (CAUTI). UroShield is also intended to decrease pain and discomfort associated with urinary catheter use. CAUTIs are a significant contributor to healthcare-associated UTIs and have been associated with increased morbidity, mortality, hospital cost, and length of stay. In the U.S. alone, it is estimated that over 13,000 deaths per year are attributable to CAUTIs. UroShield™ is Health Canada approved.
Leonard Ineson, CEO of Instrumed Surgical, commented, “CAUTI is a major cause of patient mortality, and there is growing concern over antimicrobial resistance to urinary pathogens. We believe UroShield™ has the potential to not only save lives, but also decrease the use of antibiotics by lowering infection rates. We look forward to rapidly rolling out UroShield across Canada and believe there will be strong support from the Canadian medical community due to both the patient and economic benefits of the product.”
Brian Murphy, Chief Executive Officer of NanoVibronix Inc., commented, “Instrumed Surgical is one of the premier medical device distributors in Canada, with over 3 decades of experience and an impressive sales network that covers all the major hospitals across Canada. This partnership follows our recent announcement of a UK distributor and represents another major milestone in our global rollout strategy.”
NanoVibronix Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, NY with research and development in Nesher, Israel, that is focused on developing medical devices utilizing its proprietary and patented low intensity surface acoustic wave technology. The company’s 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.
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, (ii) negative clinical trial results or lengthy product delays in key markets, (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 raising 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..