Joe Martin Appointed CEO of Milestone Scientific and New Executive Member of the Board of Directors
December 12 2007 - 12:23PM
PR Newswire (US)
Leonard Osser, Former CEO, Will Continue Serving as Chairman of the
Board LIVINGSTON, N.J., Dec. 12 /PRNewswire-FirstCall/ -- Milestone
Scientific, Inc. (OTC:MLSS) (BULLETIN BOARD: MLSS) , the recognized
leader in advanced injection technologies, today announced that the
Board of Directors has named Joe Martin, Chief Executive Officer of
the Company's medical division, as the new CEO of the Company and a
member of its Board of Directors, effective January 1, 2008. As
CEO, Martin replaces Leonard Osser, who will continue serving as
the Chairman of the Board. "We are very pleased that Joe has agreed
to become Milestone's CEO and the newest addition to our Board of
Directors," stated Osser. "Since Joe's arrival, he has been
instrumental in directing and effecting positive changes in
Milestone's operations. Given our longstanding belief that
Milestone's ultimate success will stem from maximizing
opportunities for our patented CompuFlo(R) technology in the
medical arena, coupled with Joe's level of experience and expertise
earned as an executive at Bayer and Abbott, there is simply no
question that he is the ideal choice to assume leadership of our
Company." Martin has served as CEO of Milestone Medical since
joining the Company in May 2007. Previously, he served as President
of the Diabetes Care Division (DCD) at Bayer Healthcare, as well as
a member of the Bayer HealthCare Executive Committee. From 1992
through 2005, Martin rose through the ranks at Bayer in managerial
posts that included Senior Vice President and General Manager,
Self-Testing Business Segment; Country Manager -- United Kingdom
and Ireland; and Vice President, Marketing -- Immunodiagnostic
Business Unit. From 1980 until 1992, Martin held various sales,
marketing and general management roles of increasing
responsibility, both domestically and internationally, at Abbott
Laboratories -- Diagnostic Division. Martin is a graduate of the
University of Houston, where he earned a Bachelors of Business
Administration degree in Marketing and Accounting. Martin is the
Past President of the Biomedical Marketing Association and served
on the Board of Directors of Life Treatment Centers in South Bend,
Indiana. Commenting on his new appointment, Martin noted, "As I see
it, working towards having Milestone's CompuFlo technology globally
recognized and adopted as a key enabler of a wide range of
innovative medical and extra-medical applications is my most
important directive as the Company's new CEO. However, I also
understand and appreciate that we must build and maintain a highly
productive, revenue-producing business platform that can and will
support our more ambitious growth strategies. As such, I'm looking
forward to advancing the important progress that Milestone has made
with the commercialization of the STA System in the worldwide
dental industry, while also capitalizing on exciting product
development opportunities we are pursuing within the medical
marketplace." About Milestone Scientific, Inc. Headquartered in
Livingston, New Jersey, Milestone Scientific is engaged in
pioneering proprietary, highly innovative technological solutions
for the medical and dental markets. Central to the Company's IP
platform and product development strategy is its patented
CompuFlo(R) technology for the improved and painless delivery of
local anesthetic. Specifically, CompuFlo is a computer-controlled,
pressure sensitive infusion, perfusion, suffusion and aspiration
technology, which provides real-time readouts of pressures, fluid
densities and flow rates, enabling the advanced delivery and
removal of a wide array of fluids. The Single Tooth Anesthesia
(STA(TM)) computer-controlled local anesthesia delivery system
which uses this technology provides dentists with audible and
visual signals as to in-tissue pressure. Milestone's existing
painless injection systems are currently sold in 25 countries. For
more information on these and other innovative Milestone products,
please visit the Company's web site found at
http://www.milesci.com/. Safe Harbor Statement This press release
contains forward-looking statements regarding the timing and
financial impact of the Milestone's ability to implement its
business plan, expected revenues 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 and future business
decisions, 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 on Form 10-KSB for the year
ended December 31, 2006. 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. FOR
MORE INFORMATION, PLEASE CONTACT: Elite Financial Communications
Group, LLC Dodi Handy, President and CEO, or Daniel Conway, Chief
Strategist 407-585-1080 or via email at DATASOURCE: Milestone
Scientific, Inc. CONTACT: Dodi Handy, President and CEO, or Daniel
Conway, Chief Strategist, both of Elite Financial Communications
Group, LLC, +1-407-585-1080, , for Milestone Scientific, Inc. Web
site: http://www.milesci.com/
Copyright