ROSELAND, N.J., Jan. 12, 2021 (GLOBE NEWSWIRE) — Milestone Scientific Inc. (NYSE American:MLSS), a leading developer of computerized drug delivery instruments that provides virtually painless and precise injections, today announced that it has begun selling CompuFlo® Epidural and CathCheck disposables to Regional Medical Center (RMC), a premier regional healthcare system in South Carolina.
Arjan Haverhals, President of Milestone Scientific, stated, “I would like to thank the entire anesthesia staff at RMC for their willingness to pilot and then initiate commercial orders around the CompuFlo Epidural and CathCheck Systems. We believe this initial order of disposables, which followed extensive testing at the hospital, is further validation of the safety and economic benefits of our instruments and disposables.”
Leonard Osser, Interim CEO of Milestone Scientific, further noted, “This agreement marks our second important hospital agreement in just a matter of weeks. I’m pleased to report our sales pipeline, including advanced trials underway, is more robust than at any time in the Company’s history. A key element of our strategy is to focus our sales strategy around the disposable components of our system, which we believe will contribute to high margin, recurring revenue. Moreover, as we add new medical institutions to our client roster, the value proposition becomes even more evident to other healthcare systems. Given the safety and economic benefits of the CompuFlo, we are further encouraged and continue working toward our goal of establishing CompuFlo as the standard of care in labor and delivery anesthesia in the United States.”
First established as a private hospital in 1919, Regional Medical Center (RMC) has grown into a regional health care system with a 286-bed acute care hospital and 22 primary care and specialty care practices. Owned by Orangeburg and Calhoun counties, the non-profit hospital has more than 100 physicians on staff, over 1,200 employees and 150 volunteers.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone’s computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone’s proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information, please visit our website: www.milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone’s ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone’s control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone’s periodic filings with the Securities and Exchange Commission, including without limitation, Milestone’s Annual Report for the year ended December 31, 2019. The forward-looking statements in this press release are based upon management’s reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
David Waldman or Natalya Rudman
Crescendo Communications, LLC