Milestone Scientific Enacts Strategy to Diversify Channel Partnerships and Announces Initiatives to Expand Dental Sales
April 14 2022 - 7:30AM
Milestone Scientific Inc. (NYSE:MLSS), a leading developer of
computerized drug delivery instruments, that provide virtually
painless and precise injections, today announced it has expanded
its dental strategy, entering the growing dental implant and dental
service organization (DSO) markets, along with new educational
initiatives.
Recent Agreements:
- Added Keystone
Dental Group as a strategic channel partner for the STA Single
Tooth Anesthesia® System. Keystone Dental Group brings a direct
sales force of more than 60 sales representatives serving surgical
specialists and general dental practices across the U.S., with a
particular focus on implant and regenerative procedures.
- Established a
partnership with American Independent Dental Alliance (AIDA),
America’s premier DSO network of private practice dentists, as part
of a broader initiative to target the DSO market. AIDA supports
over 1,000 dental practices within their network. AIDA brings
business relationships and services to network practices to ensure
private practice success, such as lowering costs, practice
development, practice growth and business solutions.
- Enhanced educational
activities through an agreement with Esthetic Professionals, which
provides continuing education classes that feature hands-on dental
training. The STA Single Tooth Anesthesia System will be core to
the curriculum of the 50 courses run annually by Esthetic
Professionals.
Arjan Haverhals, CEO of Milestone Scientific Inc. commented, “We
are delighted to announce a series of key initiatives to expand
domestic distribution of the STA Single Tooth Anesthesia system.
Keystone Dental Group is an ideal strategic channel partner given
their dedicated sales force and broad reach across the U.S. Implant
dentistry is a natural fit for the STA Single Tooth Anesthesia
system, since it allows for localized anesthesia across a wide
range of dental procedures. Through the use of our STA Single Tooth
Anesthesia system, implant dentistry can be performed without the
discomfort or potential risks and complications that could occur
when numbing an entire quadrant of the patient’s mouth. Keystone
Dental Group has a proven track record of introducing new products,
including specialized instruments that require hands on training
and support.”
“We also remain focused on growing our network of DSOs and look
forward to our collaboration with AIDA. DSOs play an increasingly
important role within the domestic dental market. The current DSO
market penetration of approximately 30-32% is expected to grow to
75-80% over the next 10 years. At the same time, dental education
remains central to our mission of training the current and next
generation of dentists, as illustrated by our educational
partnership with Esthetic Professionals. I would especially like to
commend Andy Molnar, our newly appointed SVP of Global Sales and
Business Development, who has been instrumental in growing our
channel partner relationships. Milestone Scientific continues to
gain momentum for the STA through such relationships, which support
our decentralized, multi-channel sales strategy, as evidenced by
our continued revenue growth.”
Melker Nilsson, CEO of Keystone Dental, stated, “Keystone is
very pleased to work with a leading partner in Milestone
Scientific. This collaboration provides potential for improved
patient care by embracing solutions that create a better, more
comfortable patient experience and provide our customers with
unique tools that enhance their daily workflow. We look forward to
introducing these new capabilities from STA Single Tooth Anesthesia
system across our sales force and customer base.”
Rick Cacciatore, CEO of AIDA, noted, “AIDA is very excited to
partner with Milestone, as we believe independent dentistry still
delivers the optimum in patient-focused care. On a personal note,
I’ve had the STA injection during dental procedures, and to me it
makes a big difference. This is the type of product we can get
behind to enhance the overall patient experience. We look forward
to a long-lasting relationship.”
About Keystone Dental
GroupKeystone Dental Group is a global commercial stage
medical technology company focused on providing end-to-end
solutions for dental practitioners and tooth replacement
procedures. Headquartered in Burlington, Massachusetts with a
distribution facility in Irvine, California, and a research and
development and manufacturing site in Caesarea, Israel and in
Melbourne, Australia, Keystone Dental Group markets its products
across the world. The Company’s comprehensive portfolio of tooth
replacement solutions is comprised of implants, prosthetic
solutions, biomaterial solutions and digital dentistry
capabilities. It includes proprietary offerings such as Osteon,
Nexus iOS, Genesis – The Biomimetic Implant System™, the
TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the
DynaMatrix® extracellular membrane, and the Dyna Blast® and
DynaGraft D® bone graft substitutes. Keystone Dental Group acquired
Implant Solutions Pty Ltd (“Osteon”) in 2021, adding a
comprehensive portfolio of prosthetic solutions on implants and
digital workflow capabilities. For more information, refer to
www.keystonedental.com.
About AIDAAIDA is a Dental Service Organization
bringing negotiated critical business relationships and services to
network practices to ensure private practice success. AIDA partners
with independent regional distributors who commit to provide
excellent programs in supply overhead management while also
maintaining a strong on-site presence to provide ongoing critical
support for AIDA members in day to day needs. For more information,
refer to https://aidagroup.org/.
About Esthetic ProfessionalsDrs. Kristi and
Bruce Crispin are co-directors of Esthetic Professionals Dental
Education Center (EP) in Tarzana California. Specializing in hands
on & clinical courses, their mission is to make dentists
happier and more successful through education. This dynamic father
daughter team has over 60 years of teaching and practice
experience. In addition to teaching at their state of the art
facility they provide dental practice and laboratory services.For
more information, refer to
https://www.estheticprofessionals.com/
About Milestone Scientific Inc.Milestone
Scientific Inc. (MLSS), a technology focused medical research and
development company that patents, designs and develops innovative
injection technologies and instruments for medical, dental and
cosmetic applications. Milestone Scientific’s computer-controlled
systems are designed to make injections precise, efficient and
increase the overall patient comfort and safety. Their proprietary
DPS Dynamic Pressure Sensing Technology® instruments is the
platform to advance the development of next-generation devices,
regulating flow rate and monitoring pressure from the tip of the
needle, through platform extensions of subcutaneous drug delivery,
including local anesthetic. To learn more, view the MLSS brand
video or visit 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, 2020. 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 Rudman |
|
Crescendo Communications, LLC |
|
Email: mlss@crescendo-ir.com |
|
Tel: 212-671-1020 |
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