ELMSFORD, NY--(Marketwired - December 28, 2016) - NanoVibronix, Inc. (OTCQB: NAOV), a medical device company, today announced that it has received clearance to sell the WoundShield™ in Canada. The WoundShield™ system is a novel, patch-based therapeutic ultrasound device that facilitates soft tissue regeneration and wound healing by using ultrasound to increase local capillary perfusion and tissue oxygenation.
Brian Murphy, Chief Executive Officer of NanoVibronix, stated, "We are very pleased with Health Canada's approval to sell the WoundShield™ in Canada. We believe that the Canadian market represents an attractive opportunity for our WoundShield ™ system with more than 280 thousand patients suffering from persistent wounds, while diabetic foot ulcers are estimated to affect 25 percent of patients with diabetes. With chronic wounds affecting 5.7 million patients in the U.S., the total global wound device market is expected to reach $20 billion in 2016. WoundShield™ has also received a CE Mark for marketing clearance in Europe, where we are focusing on new sales and marketing initiatives. We will also pursue the necessary approvals to commence marketing in the U.S. Our strategy for selling WoundShield™ in the U.S. and Canada is to find a strong partner in the wound care market."
NanoVibronix Inc. 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 groundbreaking technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications. The devices accelerate wound and soft tissue healing, disrupt biofilms and bacteria colonization, while providing pain relief. The devices can also be administered at home, without the assistance of medical professionals. The company's products include PainShield® UroShield™ NG-Shield™ and WoundShield™. Additional information about the company is available at: www.nanovibronix.com.
SAFE HARBOR STATEMENT: This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward-looking statements. We have identified forward-looking statements by using words such as "expect," "believe," and "should." Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form SEC filings.