NanoVibronix Gains Approval for Inclusion of UroShield Products in NHS Prescription Services’ Drug Tariff

NanoVibronix, Inc. (Nasdaq: NAOV), a medical device company that produces the UroShield, PainShield and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that its application for UroShield actuators to be available on NHS Prescription Services’ Drug Tariff has been approved.

The company also confirmed that the contract with NHS Supply Chain for the supply of UroShield through the company’s U.K. distribution partner, Peak Medical Limited, has been extended for up to four years.

Drug Tariff provides for full reimbursement of UroShield actuators by the NHS. Clinicians in the U.K. will be able to prescribe the products, which are used in conjunction with the UroShield device, beginning November 1, 2023. Both hospital and community clinicians will have the option of prescribing UroShield either through the prescription process or through the NHS contract. Importantly, wherever a patient is treated, they can now receive the full UroShield system with the NHS paying the cost and not the patient.

Brian Murphy, Chief Executive Officer of NanoVibronix, Inc., said, “Receiving reimbursement approval is a vitally important advancement in our efforts to increase access to and distribution of UroShield. Approval for clinicians to prescribe alongside the NHS procurement contract greatly eases a patient’s ability to access the UroShield device through their healthcare providers, wherever they are being treated. Across the health system, the cost of UroShield actuators will no longer be a limiting factor for patients. We are pleased that the NHS recognizes the value of the UroShield technology and the patient benefits that the device can deliver, whilst also addressing the resource and financial challenges in the healthcare system.”

Murphy continued, “Achieving reimbursement status had been a critical missing piece to advancing distribution in the NHS and now with this hurdle cleared, we are better positioned to increase unit sales throughout the country. Through our partnership with Peak Medical Limited, we have an established distribution channel and a robust team of sales and marketing professionals with vast experience in urological medicine. Furthermore, we are increasing production to meet the upsurge in demand that we believe will be generated from this new development.”