Thursday, December 29, 2016
NanoVibronix, Inc., a medical device company, today announced that it has received clearance to sell the WoundShield™ in Canada. The WoundShield™ system is a novel, patch-based therapeutic ultrasound device that facilitates soft tissue regeneration and wound healing by using ultrasound to increase local capillary perfusion and tissue oxygenation.
Brian Murphy, Chief Executive Officer of NanoVibronix, stated, "We are very pleased with Health Canada's approval to sell the WoundShield™ in Canada. We believe that the Canadian market represents an attractive opportunity for our WoundShield ™ system with more than 280 thousand patients suffering from persistent wounds, while diabetic foot ulcers are estimated to affect 25 percent of patients with diabetes. With chronic wounds affecting 5.7 million patients in the U.S., the total global wound device market is expected to reach $20 billion in 2016. WoundShield™ has also received a CE Mark for marketing clearance in Europe, where we are focusing on new sales and marketing initiatives. We will also pursue the necessary approvals to commence marketing in the U.S. Our strategy for selling WoundShield™ in the U.S. and Canada is to find a strong partner in the wound care market."
