PainShield Added to Federal Supply Schedule through Marathon Medical, Providing Opioid Alternative Pain Management System
ELMSFORD, N.Y., Sept. 3, 2019 /PRNewswire/ -- NanoVibronix, Inc., (NAOV), a medical device company that produces the PainShield® Surface Acoustic Wave (SAW) Portable Ultra Sonic therapeutic device, announces on August 18th, 2019, PainShield, and PainShield Supplies were added to the Federal Supply Schedule through NanoVibronix' relationship with Marathon Medical, a Service Disabled Veteran Owned Small Business (SDVOSB) headquartered in Aurora, Colorado. Accordingly, Marathon Medical can now sell PainShield and related supplies to the Veterans Health Administration, the largest integrated health care system in the United States, providing care at 1,255 health care facilities, including 170 VA Medical Centers and 1,074 outpatient sites of care of varying complexity, and the U.S. Department of Justice to combat pain and provide an opioid alternative pain management system.
The Veterans Health Administration (VA) has launched an Opioid Safety Initiative (OSI), designed to address the growing epidemic of opioid misuse and opioid use disorder in America. It is estimated that chronic pain is a common condition for nearly 20 million Veterans, and more than 50% of the nearly nine million Veterans enrolled in the VA health care system are receiving treatment each year for chronic pain. PainShield provides a proven, opioid-free alternative to relieve pain for Veterans and others, in-line with the goals of this initiative.
Brian Murphy, CEO of NanoVibronix Inc. said, "Our collaboration with Marathon Medical, a leading veteran-owned business, will help put proven solutions in the hands of our Veterans to help address chronic pain while avoiding the dangers of opioids. Securing a Federal Supply Schedule number was a key step in this effort, creating a new and exciting market for our technology."
About Marathon Medical
Marathon Medical is a medical supply distribution company founded in 2002. Its mission is to provide excellence to the health care supply chain with professional personal service. Marathon Medical's corporate offices and warehouse facility is conveniently located just outside of Denver, CO with an additional location in Tampa, FL. Marathon Medical works with a variety of manufacturers including its own private label products to provide solutions for every department within the hospital. Marathon Medical remembers those in service by donating to the Wheel-Chair Games, Danny Dietz Memorial, and the Navy Seal Fund. More information on Marathon Medical can be found at: https://www.marathonmed.com/topic/about
NanoVibronix Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, which is focused on developing medical devices utilizing its proprietary and patented low intensity surface acoustic wave (SAW) technology. This 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 or lengthy product delays in key markets; (ii) negative or unreliable clinical trial results (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 may not be available, or 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.