NanoVibronix Announces Morulaa HealthTech as its Regulatory & Marketing Partner in India
ELMSFORD, NY--(Marketwired - December 20, 2017) - 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 Morulaa HealthTech as its regulatory and marketing partner in India. Morulaa HealthTech specializes in introducing medical products to the Indian market, with its in-house regulatory team and an established third-party distribution network across India, including both rural and urban markets.
Vilina Jain of Morulaa HealthTech, stated, "We are excited to partner with NanoVibronix to bring the company's full suite of products to the Indian marketplace. We believe these products will resonate extremely well and fill an enormous unmet medical need. As an example, the effects of catheter-associated urinary tract infections (CAUTI) are even more pronounced in India than in many other parts of the world, illustrating the demand for UroShield™, which has been clinically shown to reduce infections and improve outcomes. We believe the value proposition of UroShield™ is apparent in terms of both saving lives and reducing costs to the healthcare system. We also believe that there is a significant market opportunity for both WoundShield™ and PainShield™, especially in rural markets where access to healthcare may be limited."
Within India, hospital acquired infections (HAIs) are a leading cause of morbidity, and over 40% of all HAIs are believed to be CAUTI related. These infections generally result in increased use of antibiotics, longer stays in hospitals and an overall increase in healthcare costs. 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 CAUTI. UroShield is also intended to decrease pain and discomfort associated with urinary catheter use.
Brian Murphy, Chief Executive Officer of NanoVibronix Inc., commented, "India represents a very substantial market opportunity, with the overall medical device market experiencing explosive growth and forecast to reach $11 billion USD by 2022. We believe Morulaa HealthTech is the ideal partner, with a long track record and extensive network of distributors in place across India."
About Morulaa HealthTech
With over 100 years of business experience, Morulaa is a turnkey solution provider with its own in-house regulatory team to assist with registration of medical device, IVDs, cosmetics, and drugs (Form 41, Form 43) in India. Morulaa HealthTech has an extrensive distribution network across India, with regulatory and marketing teams that work in sync with our clients to accelerate commercialization of healthcare products across India.
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..
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