NanoVibronix Announces PainShield Will Be Included in Department of Veteran Affairs’ FSS Contract Award

NanoVibronix, Inc. announced that its PainShield product will be included in the U.S. Department of Veteran Affairs’ Federal Supply Schedule (FSS) effective May 1, 2024.

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Distribution Partner, Delta Medical, Awarded a Five-Year Federal Supply Schedule Contract for PainShield by Department of Veterans Affairs

ELMSFORD, N.Y.--(BUSINESS WIRE)-- NanoVibronix, Inc. (Nasdaq: NAOV) (“NanoVibronix,” or the “Company”), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that effective May 1, 2024, the Company’s PainShield product will be included in the U.S. Department of Veteran Affairs’ (“VA”) Federal Supply Schedule (“FSS”), a program that supports the healthcare acquisition needs of the VA and other government agencies.

Delta Medical, LLC, a service-disabled veteran-owned small business (“SDVOSB”) and distributor of the Company’s PainShield product (“Delta Medical”), was awarded a five-year FSS contract by the VA, that includes the Company’s PainShield product.

Brian Murphy, Chief Executive Officer of the Company commented, “As the largest integrated health care network in the U.S., the VA represents a massive opportunity for the placement of our PainShield devices. The VA serves nine million enrolled veterans each year and including our PainShield product in the FSS will help the VA meet its healthcare acquisition needs. Healthcare providers both within and outside of the VA are urgently seeking non-pharmacological treatment modalities for the management of pain, and PainShield is a proven therapeutic that directly addresses this growing need. We are energized by the possibilities for increased adoption with the award of this contract to Delta Medical.”

Justin A. Brooks, Principal Owner of Delta Medical commented, “As the sole set-aside and eligible SDVOSB that provides VA access to at-home, low-frequency ultrasound therapy, this contract will allow us to pursue sole source distribution agreements across the country. These sole source, set-aside, eligible agreements will allow us to better serve a larger veteran population while decreasing the financial and technical burden the VA experiences during the acquisition process for these types of medical devices. We are excited for this new chapter in our partnership with NanoVibronix and the VA community as a whole.”

About NanoVibronix

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 to 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 PainShield® product is a portable device suitable for administration at home without assistance of medical professionals. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501088032/en/

Investor Contacts:
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com
(646) 536-7331

Source: NanoVibronix, Inc.