ORLANDO, Fla., Sept. 19, 2016 (GLOBE NEWSWIRE) — Followers of biotechnology stocks and Durable Medical Equipment (DME) companies are often honed in on two driving forces, regulatory approvals and new sales markets. Innovative medical device maker NanoVibronix, Inc, (OTCQB:NAOV) might have just delivered their investors both with a potentially larger opportunity awaiting its own possible approval.
Last week in an announcement that the market may not have fully realized, NanoVibronix reported that they have received clearance to sell their UroShield™ in Canada. The product is effective in preventing Urinary Tract Infections (UTI) in patients with indwelling urinary catheters. According to NanoVibronix, catheter-associated urinary tract infections (CAUTIs) is one of the leading nosocomial complications which cause patient morbidity and mortality. Prolonged urinary catheterization considerably increases the cost of medical care as well as the inconvenience to the patient.
The announcement is notable insofar as it signals approval by a large government health agency (Health Canada) and the allowance into a good sized market north of our border.
Also notable in the September 6, 2016 release is NanoVibronix’s CEO’s remarks regarding the future of UroShield in the much larger American market. CEO William Stern indicated that while the Company is pleased by the approval in Canada that it is also currently conducting a double blinded clinical trial for UroShield™ in the U.S. in order to obtain 510(k) clearance from the U.S. Food and Drug Administration.
With the U.S. population roughly nine times that of neighbor Canada, investors may be wise to follow the NanoVibronix’s news to see if successes in the north continue in the larger opportunity of the American health care market. Meanwhile sales in Canada will accrue to the Company’s collective gross revenue pattern.
About NanoVibronix
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 surface acoustic wave ultrasound. 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 healing and provide pain relief. The devices can also be administered at home, without the assistance of medical professionals. The company’s products include PainShield® and WoundShield™, which both have CE Mark. The PainShield™ also has FDA clearance. NanoVibronix’s catheter based products include the UroShield™ and NG-Shield™ that are both CE Marked. UroShield reduces pain and prevents infection in urinary catheters. Additional information about the company is available at: www.nanovibronix.com.
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