Benzinga | Jan 24, 2022 08:34AM EST

NanoVibronix Extends Reach Of UroShield And PainShield Through MTSG's International Network

NanoVibronix, Inc., (NASDAQ:NAOV), a medical device company that produces the UroShield(r) and PainShield(r) Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced it has signed an International Marketing, Sales and Clinical Management Agreement with Medtech Solutions Group ("MTSG"), a leader in the commercialization of healthcare technologies.

The agreement allows MTSG to commercialize UroShield(r) and PainShield(r) throughout Europe, excluding the United Kingdom, Ireland, Malta and Turkey; Asia Pacific, Africa, Central and South America and certain parts of the Middle East. This agreement expands the Company's addressable market by tens of millions of dollars and should enable availability of its products to new populations of patients.

"The agreement with MTSG represents an important milestone for our Company," said Brian Murphy, CEO of NanoVibronix. "For the first time in company history, our products are now expected to be introduced around the world to millions of new patients through qualified distributors and dealers. MTSG team members have more than seven decades of global success in launching products and brand expansion for leading brands and healthcare products. We are pleased to add UroShield(r) and PainShield(r) to their portfolio and look forward to working closely with them to achieve mutual success. We are excited to introduce our products to their vast, existing distribution network through their sales professionals."

Ron Dziedziula, Chief Operating Officer of MTSG, stated, "We are eager to work with NanoVibronix to accelerate the growth of UroShield(r) and PainShield(r) globally. Our team has a proven history of partnering with our clients and our expanding network of distributors to develop and implement marketing, sales and clinical strategies that increase product placements and drive international revenue growth for the clients we serve. We look forward to doing the same for NanoVibronix."