NAOV - NanoVibronix announces expansion of distribution pact for its ultrasound devices

NanoVibronix ([[NAOV]] +2.4%) has expanded and replaced its original distribution agreement with Ultra Pain Products ((UPPI)), which extend the term and increase minimum purchase requirements.Under the terms of the three-year agreement, the Company’s PainShield and PainShield Plus will be sold solely within the domestic Durable Medical Equipment channel by Ultra Pain Products under a private label through its U.S. distributor network. Additionally, UPPI is required to pay an up-front payment to NanoVibronix for the custom design of the privately labeled products and to meet quarterly and annual minimum purchase requirements in order to retain exclusive distribution rights within the territory. Initial sales to begin in Q2 of 2021.Earlier this year, NanoVibronix phased out its original PainShield DV0057 and associated hydrogel patches with an updated version, PainShield 10-100-0008, PainShield Kit: PainShield.“By this new private label agreement, we have expanded our revenue opportunity with UPPI, effectively increasing what was an initial revenue target of $1.1 million over two

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NanoVibronix announces expansion of distribution pact for its ultrasound devices