Milestone Scientific Secures Federal Supply Schedule (FSS) Approval on Contract for CompuFlo® Epidural System
Milestone Scientific has secured Federal Supply Schedule (FSS) approval for its CompuFlo® Epidural System, enabling pre-vetted contractor status with pre-negotiated pricing. The contract has a potential duration of up to 20 years, including extensions. The FSS designation opens significant opportunities within federal healthcare systems, including the Department of Defense, Veterans Affairs, and Indian Health Service. The CompuFlo® system uses patented Dynamic Pressure Sensing Technology® for accurate needle placement during epidural procedures. The contract provides access to the VHA's network of 1,380 facilities serving 9.1 million veterans, the Military Health System's 9.5 million beneficiaries, and the IHS's 687 facilities serving 2.8 million American Indians and Alaska Natives.
Milestone Scientific ha ottenuto l'approvazione per il Federal Supply Schedule (FSS) per il suo sistemaCompuFlo® Epidural, che consente uno stato di appaltatore pre-verificato con prezzi pre-negoziati. Il contratto ha una durata potenziale di fino a 20 anni, inclusi eventuali rinnovi. La designazione FSS apre opportunità significative all'interno dei sistemi sanitari federali, inclusi il Dipartimento della Difesa, il Dipartimento degli Affari dei Veterani e il Servizio Sanitario Indiano. Il sistema CompuFlo® utilizza la tecnologia brevettata Dynamic Pressure Sensing Technology® per un posizionamento preciso dell'ago durante le procedure epidurali. Il contratto offre accesso alla rete VHA di 1.380 strutture che servono 9,1 milioni di veterani, ai 9,5 milioni di beneficiari del Military Health System e alle 687 strutture dell'IHS che servono 2,8 milioni di nativi americani e indigeni dell'Alaska.
Milestone Scientific ha obtenido la aprobación del Federal Supply Schedule (FSS) para su sistema CompuFlo® Epidural, lo que permite un estado de contratista preevaluado con precios prenegociados. El contrato tiene una duración potencial de hasta 20 años, incluidas las extensiones. La designación FSS abre oportunidades significativas dentro de los sistemas de salud federal, incluidos el Departamento de Defensa, Asuntos de Veteranos y el Servicio de Salud Indígena. El sistema CompuFlo® utiliza tecnología patentada Dynamic Pressure Sensing Technology® para una colocación precisa de la aguja durante los procedimientos epidurales. El contrato brinda acceso a la red de la VHA de 1,380 instalaciones que atienden a 9.1 millones de veteranos, a los 9.5 millones de beneficiarios del Military Health System y a las 687 instalaciones de la IHS que sirven a 2.8 millones de indígenas americanos y nativos de Alaska.
Milestone Scientific는 CompuFlo® Epidural System에 대한 연방 조달 일정(FSS) 승인을 획득하여 사전 검증된 계약자 지위와 사전 협상된 가격을 가능하게 했습니다. 이 계약은 최대 20년의 잠재적 기간을 포함하며, 연장을 포함합니다. FSS 지정은 연방 의료 시스템 내에서 중요한 기회를 열어줍니다, 여기에는 국방부, 재향군인 지원청 및 인도 건강 서비스가 포함됩니다. CompuFlo® 시스템은 epidural 시술 중 바늘 배치를 정확하게 하기 위해 특허받은 Dynamic Pressure Sensing Technology®를 사용합니다. 이 계약은 910만 명의 재향군인을 서비스하는 VHA의 1,380개 시설 네트워크, 950만 명의 수혜자를 서비스하는 군 의료 시스템, 그리고 280만 명의 아메리카 원주민 및 알래스카 원주민을 서비스하는 IHS의 687개 시설에 대한 접근을 제공합니다.
Milestone Scientific a obtenu l'approbation du Federal Supply Schedule (FSS) pour son système CompuFlo® Epidural, ce qui permet un statut de contractant prévalidé avec des prix pré-négociés. Le contrat a une durée potentielle pouvant aller jusqu'à 20 ans, y compris les extensions. La désignation FSS ouvre des opportunités significatives au sein des systèmes de santé fédéraux, y compris le Département de la Défense, le Département des Anciens Combattants et le Service de Santé des Indiens. Le système CompuFlo® utilise la technologie brevetée Dynamic Pressure Sensing Technology® pour une placement précis de l'aiguille lors des procédures épidurales. Le contrat donne accès au réseau VHA de 1 380 établissements servant 9,1 millions d'anciens combattants, aux 9,5 millions de bénéficiaires du Military Health System et aux 687 établissements de l'IHS desservant 2,8 millions d'Amérindiens et de natifs de l'Alaska.
Milestone Scientific hat die Genehmigung für den Federal Supply Schedule (FSS) für sein CompuFlo® Epidural System erhalten, was den Status eines vorab geprüften Auftragnehmers mit vorverhandelten Preisen ermöglicht. Der Vertrag hat eine potenzielle Dauer von bis zu 20 Jahren, einschließlich Verlängerungen. Die FSS-Bezeichnung eröffnet bedeutende Möglichkeiten innerhalb der bundesstaatlichen Gesundheitssysteme, einschließlich des Verteidigungsministeriums, der Veteranenangelegenheiten und des Indian Health Service. Das CompuFlo®-System nutzt die patentierte Dynamic Pressure Sensing Technology® für eine genaue Platzierung der Nadel bei Epiduralverfahren. Der Vertrag gewährt Zugriff auf das Netzwerk der VHA mit 1.380 Einrichtungen, die 9,1 Millionen Veteranen bedienen, auf die 9,5 Millionen Begünstigten des Military Health Systems und auf die 687 Einrichtungen des IHS, die 2,8 Millionen amerikanische Ureinwohner und Alaska-Natives bedienen.
- Secured FSS approval allowing access to major federal healthcare systems
- Contract duration potential of up to 20 years
- Access to large market: 9.1M veterans (VHA), 9.5M military beneficiaries (DoD), and 2.8M IHS patients
- Pre-negotiated pricing and streamlined procurement process
- None.
Insights
The FSS contract approval represents a significant market expansion opportunity for Milestone Scientific. The potential market reach includes over 1,380 VA facilities, 732 DoD medical facilities and 687 IHS facilities. The combined addressable market encompasses care delivery for 9.1 million veterans, 9.5 million DoD beneficiaries and 2.8 million IHS patients.
The high prevalence of chronic pain in these populations -
Contract Unlocks Significant Market Opportunities Across Federal Healthcare Systems
ROSELAND, N.J., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced its approval on contract for the Federal Supply Schedule (FSS), also known as the GSA Schedule, for the CompuFlo® Epidural System. This significant milestone follows the Company's earlier registration with the U.S. Government’s System for Award Management (SAM) in March 2023.
The FSS designation positions Milestone Scientific as a pre-vetted contractor with pre-negotiated pricing for its CompuFlo® Epidural System and related consumable products. FSS contracts are initially awarded to sell products and services to the government for a five-year base period and can be extended through three additional five-year option periods, allowing for a potential total contract duration of up to 20 years. This streamlined procurement process allows federal agencies to save time and money while securing Milestone Scientific’s innovative technologies.
The CompuFlo® Epidural System utilizes Milestone Scientific’s patented Dynamic Pressure Sensing Technology®, offering real-time feedback to ensure accurate needle placement during epidural procedures. This innovation enhances patient safety and comfort, reducing the risk of complications associated with traditional techniques.
The inclusion of Milestone Scientific on the FSS opens significant opportunities within federal healthcare systems, including the Department of Defense (DoD), the Department of Veterans Affairs (VA), and the Indian Health Service (IHS):
- Veterans Health Administration (VHA): The VHA is the largest integrated healthcare system in the United States, providing care at 1,380 facilities, including 170 VA Medical Centers and 1,193 outpatient sites. About one-third of the 9.1 million veterans enrolled in the VHA experience chronic pain, a higher prevalence than in the general population.
- Department of Defense (DoD): The Military Health System (MHS) serves approximately 9.5 million beneficiaries, including active-duty service members, retirees, and their families, through 45 hospitals, 572 clinics, and 115 dental clinics. According to a RAND study, between
31% and44% of active-duty U.S. service members experience chronic pain, highlighting a significant burden within the DoD population. Chronic pain is considered a leading cause of disability and reduced readiness among service members, making effective pain management solutions a critical need for the DoD. - Indian Health Service (IHS): The IHS provides healthcare to 2.8 million American Indians and Alaska Natives across the United States through over 687 facilities, including hospitals, health centers, health stations, and school health centers. Approximately
19.3% of individuals utilizing IHS facilities experience chronic pain, with prevalence rates notably higher among women and older adults.
Arjan Haverhals, Chief Executive Officer of Milestone Scientific, stated, "Securing approval on the Federal Supply Schedule, allowing us to sell our products and services to the government, is a pivotal achievement in our mission to revolutionize epidural procedures. This contract not only validates the clinical efficacy and safety of the CompuFlo® technology but also positions us as a trusted partner for federal healthcare systems, enabling easier access to our innovative solutions.
"We have been preparing for this approval by laying the groundwork and cultivating a robust pipeline of opportunities across the VA, DoD, and IHS. Our team is now poised to move quickly, working closely with key stakeholders to drive adoption of the CompuFlo® Epidural System and improve patient outcomes across these critical healthcare systems. We are also deeply grateful to Kandu Supplies and Services LLC and Shamrock Medical LLC, who were instrumental in helping us achieve this significant milestone."
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 and dental 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, 2023. 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.
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