Milestone Scientific Inc. Commences Sales of CompuFlo® Epidural and CathCheck Disposables to Regional Medical Center (RMC), ...
January 12 2021 - 9:00AM
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.”
About RMC
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.
Contact:David Waldman or
Natalya RudmanCrescendo Communications, LLCEmail:
mlss@crescendo-ir.comTel: 212-671-1020
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