Milestone Scientific Inc. Awarded Group Purchasing Agreement with Premier for CompuFlo® Epidural System and CathCheck™
October 13 2020 - 10:00AM
Milestone Scientific Inc. (NYSE
American:MLSS), a leading
developer of computerized drug delivery instruments that provide
virtually painless and precise injections, today announced that it
has been awarded a group purchasing agreement for the CompuFlo®
Epidural System and CathCheck™ with Premier. Effective November 1,
2020, the new agreement allows Premier members, at their
discretion, to take advantage of special pricing and terms
pre-negotiated by Premier for the CompuFlo® Epidural System and
CathCheck™.
Premier is a leading healthcare improvement company, uniting an
alliance of approximately 4,100 U.S. hospitals and 200,000 other
providers to transform healthcare. With integrated data and
analytics, collaboratives, supply chain solutions, and advisory and
other services, Premier enables better care and outcomes at a lower
cost.
Arjan Haverhals, President of Milestone Scientific and CEO of
Wand Dental Inc., stated, “We are honored to have been selected by
Premier, a leading group purchasing organization, to offer our
instruments throughout their network. This agreement provides us
enhanced access to Premier’s members and should help accelerate our
mission to become the standard of care. We believe this agreement
is further validation of the growing awareness and importance of
our instruments in improving health outcomes and lowering costs for
healthcare institutions.”
The clinical and safety benefits of the CompuFlo® Epidural
System are backed by extensive published clinical data
demonstrating significant reductions in epidural punctures and
complication rates. Moreover, the CompuFlo® instrument has been
shown to significantly reduce the total cost per hospital stay,
providing a direct economic benefit to healthcare institutions.
Similarly, the CathCheck technology has the potential to transform
the administration of epidural procedures and subsequent monitoring
of catheter placement following an epidural procedure by confirming
the placement of a catheter within 2 minutes, versus 20-40 minutes
using conventional methods. This is especially important during the
COVID-19 pandemic, given its ability to minimize contact between
the patient and provider.
Leonard Osser, Interim CEO of Milestone Scientific, further
noted, “I would like to personally commend Premier for their
leadership in adopting new technologies that provide direct and
measurable benefits to both physicians and patients. I would also
like to thank the team at Milestone for their hard work in
consummating this landmark agreement, which we believe will
significantly advance our plans for commercialization of the
CompuFlo® Epidural System and CathCheck™ technology in the United
States.”
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 Rudman
Crescendo Communications, LLC Email: mlss@crescendo-ir.com Tel:
212-671-1020
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