Milestone Scientific Inc. Awarded Group Purchasing Agreement with Premier for CompuFlo® Epidural System and CathCheck™

Rhea-AI Summary

Milestone Scientific (MLSS) announced a group purchasing agreement with Premier, effective November 1, 2020. This deal grants Premier’s network of approximately 4,100 hospitals and 200,000 providers preferred access to the CompuFlo® Epidural System and CathCheck™. The agreement aims to enhance healthcare delivery by offering special pricing and terms, reducing complication rates and hospital stay costs. This collaboration is expected to accelerate Milestone's commercialization efforts and improve health outcomes during the ongoing COVID-19 pandemic.

Positive

• Partnership with Premier links Milestone to 4,100 hospitals and 200,000 providers, enhancing market access.
• CompuFlo® Epidural System shows potential to significantly reduce hospital stay costs.
• CathCheck™ technology improves catheter placement confirmation time from 20-40 minutes to 2 minutes.

Negative

• None.

Agreement provides Premier’s 4,100 hospitals and 200,000 provider members with preferred access to CompuFlo® Epidural System and CathCheck™

ROSELAND, N.J., Oct. 13, 2020 (GLOBE NEWSWIRE) -- 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

FAQ

What is the significance of Milestone Scientific's agreement with Premier?

The agreement gives Milestone access to Premier's extensive network of hospitals and providers, enhancing the market reach for its CompuFlo® and CathCheck™ products.

How does the CompuFlo® Epidural System benefit healthcare institutions?

It has been clinically shown to reduce complication rates and the overall cost per hospital stay, making it economically beneficial for healthcare institutions.

When does the agreement with Premier take effect?

The agreement is effective November 1, 2020.

What is the role of the CathCheck™ technology in the agreement?

CathCheck™ confirms catheter placement within 2 minutes, significantly faster than conventional methods, which is crucial during the COVID-19 pandemic.

What are the potential impacts of this agreement on Milestone's commercialization plans?

The agreement is expected to accelerate Milestone's plans for commercialization of its products in the U.S. market.