Benzinga | Dec 2, 2021 05:42AM EST

NanoVibronix Announced Early Success in the Marketing of Painshield to Veteran's Administration Healthcare Providers

NanoVibronix, Inc., (NASDAQ:NAOV), a healthcare device company that produces the UroShield(r) and PainShield(r) Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that sales of its Painshield device to the Veterans Administration (VA) has been accelerating.

Brian Murphy, CEO of Nanovibronix, stated, "Sales of our PainShield device to the VA commenced mid-summer, and we are pleased to report that adoption is happening at a relatively rapid pace in the first facilities where it is available. All indications appear to us to show that our revolutionary device is recognized as an effective treatment, as our devices are being prescribed by VA healthcare providers at an increasing rate to remedy pain suffered by so many of our veterans. Furthermore, we are experiencing higher than usual reorders of the disposables that accompany the device, which generally signals a high level of patient compliance and satisfaction. The VA is committed to finding better ways to manage pain, limit the risks of opioid therapy and address the growing epidemic of opioid misuse. As a non-opioid alternative, PainShield aligns directly with these goals.

"The VA is the largest integrated health care system in the United States providing healthcare to nine million enrolled veterans each year," continued Murphy. "This represents an enormous opportunity and will serve as a key catalyst for further growing our business as we expand our footprint throughout the VA system. Importantly, we are in the process of adding additional manufacturing capacity that has been deemed as Trade Agreement Act (TAA) compliant enabling us to meet current and hopefully future production targets to support the increase in sales."

PainShield is an ultrasound device that delivers a localized ultrasound effect to treat pain and induce soft tissue healing in a targeted area, while keeping the level of ultrasound energy at a safe and consistent level. Its range of applications includes acute and chronic pain resolution through its many mechanisms of action. The product has broad applications for sports injuries. PainShield can be used by patients at home or work or in a clinical setting and can be used even while the patient is sleeping. Patient benefits include ease of application and use, faster recovery time, high compliance, and increased safety and efficacy over existing devices that rely on higher-frequency ultrasound.