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Receives Stocking Order from U.K. Distribution Partner in Anticipation of Increasing Demand
NanoVibronix, Inc. (Nasdaq: NAOV), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that effective November 1, its UroShield actuators are eligible for reimbursement on NHS Prescription Services' Drug Tariff.
NanoVibronix further confirms that it is has received a stocking order from its U.K. distribution partner, Peak Medical Limited, to stock products in anticipation of a significant increase in demand. The company has already shipped products for this order.
Drug Tariff provides for full reimbursement of UroShield actuators by the NHS effective November 1. Clinicians in the U.K. can now prescribe the products, which are used in conjunction with the UroShield device. Both hospital and community clinicians have the option of prescribing UroShield either through the prescription process or through the NHS procurement contract. Wherever a patient is treated, they can now receive the full UroShield system with the NHS paying the cost and not the patient.
Brian Murphy, Chief Executive Officer of NanoVibronix, Inc., said, "Achieving Drug Tariff listing is a clear step towards broader distribution of UroShield and increasing sales. We are already experiencing an uptick in demand since reimbursement became effective on November 1. Our U.K. distribution partner, Peak Medical Limited, has placed a first stocking order, and we have ramped up production to meet the expected increase in demand. Our UroShield products have demonstrated the safety, quality and positive patient outcomes necessary to achieve Drug Tariff listing, and we are confident that by increasing patient access through reimbursement, practitioners will achieve improved outcomes for their patients."
Auriol Lawson, Managing Director of Peak Medical Limited, commented, "We are delighted to work with NanoVibronix to offer its UroShield products to a broader population in the U.K. now that Drug Tariff reimbursement has become effective. UroShield has proven to be effective and there is a population of patients that could greatly benefit from using the device. We have an experienced sales team that is already working to educate healthcare providers on the product's benefits and accept orders. We are pleased to offer the UroShield products as part of our product portfolio."
Posted In: NAOV
