NanoVibronix Announces Renewal and Expansion of Distribution Agreement with Dukehill Healthcare Pty Ltd in Australia
Publication of Independent Study Heightens Demand for UroShield
NanoVibronix, Inc. (NASDAQ:NAOV) (the "Company" or "NanoVibronix"), a medical technology company specializing in non-invasive therapeutic devices, today announced the renewal and expansion of its exclusive three-year distribution agreement with Dukehill Healthcare Pty Ltd. ("Dukehill").
Dukehill, with its Head Office in Queensland, has primarily focused its clinical projects and sales efforts within the state and in New South Wales. However, the recent expansion of the agreement with the Company now extends across all Australian States, with notable growth in South Australia and Victoria. This surge follows an increasing number of inquiries and orders from healthcare facilities in these States. Additionally, the recent publication of an independent study in which researchers cited compelling findings that demonstrate UroShield's effectiveness in reducing catheter-associated complications and enhancing patient outcomes, is expected to further drive sales across Australia.
Brian Murphy, Chief Executive Officer of NanoVibronix, commented, "We believe the renewal of our distribution partnership with Dukehill underscores the growing recognition of UroShield's effectiveness in improving patient care and our dedication to making this technology more widely accessible. With Dukehill's expanded presence in Australia and the heightened awareness generated by the recent study, we are confident in UroShield's continued success in the market. This agreement with Dukehill is expected to enable more patients and healthcare providers to experience the benefits of our innovative technology."
Toni Hill, Director of Dukehill, commented, "We are excited to strengthen our partnership with NanoVibronix and bring UroShield to a wider population across Australia. The growing interest in UroShield, combined with the positive study results, underscores the device's potential to transform the management of urinary catheters and improve quality of life for patients."
In addition to broadening its distribution, Dukehill will showcase the benefits of UroShield at the upcoming 33rd National Conference on Incontinence, hosted by Continence Health Australia, in Hobart in May 2025. Clinicians from across Australia are expected to meet and be able to discuss findings from the study as part of the conference program and exhibition, further reinforcing the device's clinical efficacy and patient benefits. For information about the conference, please visit https://www.continence.org.au/NCOI.
About NanoVibronix, Inc.
NanoVibronix, Inc. (NASDAQ:NAOV) is a medical device company headquartered in Tyler, Texas, 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 continuous assistance of medical professionals. The Company's primary products include PainShield® and UroShield®, which are portable devices suitable for administration at home or in any care setting. 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. 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.
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Brett Maas, Managing Principal, Hayden IR, LLC
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