NanoVibronix Extends Distribution Agreement with Its Largest Distributor for PainShield and PainShield Plus

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 it has conditionally extended its distribution agreement with Ultra Pain Products, Inc. (“UPPI”) for the company’s PainShield and PainShield Plus.

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Wearable Ultrasound-PainShield MD (Photo: Business Wire)

Under the terms of the extended agreement, UPPI will continue to be the exclusive distributor of PainShield and PainShield Plus devices to the Durable Medical Equipment distribution sector of the healthcare market in the United States. The agreement provides for an immediate re-stocking order and minimum purchase guarantees through the end of 2023.

Brian Murphy, Chief Executive Officer of NanoVibronix, Inc., commented, “Since executing the original distribution agreement in 2020, UPPI has grown to be our largest distributor of PainShield and PainShield Plus. The team at UPPI understands the importance of providing clinicians and patients with non-narcotic/non-opiate clinincally-supported modalities to reduce the economic burden on the healthcare system and limit the amount of lost working days for injured workers,¹ which makes them a valuable channel for our products.

“Our efforts to obtain full approval from the Centers for Medicare & Medicaid Services (‘CMS’) continue. We submitted the final report with our application to CMS in March 2023, and we remain hopeful for a favorable outcome. If approved, reimbursements could begin as early as October 1 of this year. The new agreement with UPPI takes into consideration approval from CMS and provides for modifications that consider the opportunities afforded through reimbursement.”

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