Milestone Scientific Announces Distribution Agreement with Clinical Technology, Inc. for the CompuFlo® Epidural System
August 04 2022 - 8:30AM
Milestone Scientific Inc. (NYSE:MLSS), a leading
developer of computerized drug delivery instruments, that provide
painless and precise injections, today announced that it has
re-engaged Clinical Technology, Inc. (CTI), a leading specialty
distributor of medical products in the mid-west and east coast
regions of the United States, as a domestic distributor for the
CompuFlo® Epidural System.
Kent Krafft, Vice President of Clinical
Technology Inc., stated, “When we were initially introduced to
Milestone’s CompuFlo Epidural System in 2018, we immediately
recognized the tremendous clinical and safety benefits. However, we
mutually agreed to delay the launch based on a pending economic
benefit analysis and initial adoption by key referenceable
hospitals. Since that time, not only has Milestone commenced sales
with leading hospitals, healthcare systems and pain management
clinics, but the published economic benefit analysis further
reinforces the value proposition. Moreover, the recent issuance of
a new technology-specific Category III Current Procedural
Terminology (CPT®) code by the American Medical Association (AMA)
is a major milestone that reinforces our confidence in the
potential for reimbursement. Our collaboration with Milestone
Scientific to advance the commercial rollout of the CompuFlo
Epidural System is a critical step towards providing a modern and
safer solution to pain management for both hospitals, and now,
private pain clinics.”
Arjan Haverhals, president of Milestone
Scientific commented, “I am very pleased to re-engage our
partnership with CTI, which illustrates the significant progress we
have achieved over the past years. CTI is an ideal partner,
bringing a sizable mid-west and east coast sales force, extensive
relationships with physicians, pain clinics and hospitals, as well
as a proven track record of introducing new medical devices.”
The clinical and safety benefits of the CompuFlo
Epidural and CathCheck Verification System are backed by numerous
published clinical studies demonstrating reductions in
epidural punctures and complication rates, and can contribute to
time savings on the part of anesthesiologists. A
recent study demonstrated that the CompuFlo Epidural
instrument has the potential to significantly reduce costs
associated with morbidity, providing a direct economic benefit to
healthcare institutions. Compared to traditional LOR technique,
real-time pressure sensing technology costs about 504 dollars less
per hospital stay.
About Clinical Technology,
Inc.Clinical Technology Inc. (CTI), headquartered in
Brecksville, Ohio, is a leading specialty distributor of medical
products in the mid-western region of the United States. CTI
operates directly in thirteen states, is part of a national
distribution alliance, and serves as master distributor capable of
providing sales and distribution throughout the country. In
addition, CTI maintains the infrastructure to facilitate a product
from concept through the FDA approval process and into
manufacturing and distribution.
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, 2021. 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:Crescendo Communications, LLCEmail:
mlss@crescendo-ir.comTel: 212-671-1020
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