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Milestone Scientific, Inc. (NASDAQ: MLSS) is a pioneering company in the field of medical and dental anesthesia. The company focuses on the development, manufacture, marketing, and sale of computer-controlled local anesthetic delivery (C-CLAD) systems designed to provide improved and painless local anesthetic delivery. These systems are marketed under various trademarks for different applications. For dentistry, the products are known as CompuDent™ and STA™ (Single Tooth Anesthesia) System. These innovative devices allow for painless injections during a wide range of dental procedures, from routine cleanings to complex surgeries involving implants, root canals, and crowns.
For medical applications, Milestone Scientific offers similar technology under the CompuMed™ trademark. Their products are used across various medical disciplines, including plastic surgery, hair restoration surgery, podiatry, colorectal surgery, dermatology, and orthopedics. The company's advanced anesthetic delivery systems are sold both in the United States and in over 25 countries worldwide, highlighting their global reach and impact.
Besides their core product offerings, Milestone Scientific also provides The Wand™, a handpiece that allows for almost painless injections, enhancing patient comfort significantly.
The firm's operations are divided into two main segments: Dental and Medical. Geographically, all operations are concentrated in the United States, but their products are influential on a global scale.
Recent Achievements:
- Successful evaluations by prominent medical professionals, such as Dr. Matthew Stottle of Omaha Pain Physicians, achieving 100% success rates.
- Acceleration in reimbursement claims submission for the CompuFlo® Epidural System.
For more information or inquiries, Milestone Scientific can be contacted through Crescendo Communications, LLC via email at mlss@crescendo-ir.com or by phone at 212-671-1020.
Milestone Scientific (NYSE:MLSS) will host a conference call on March 31, 2023, at 8:30 AM ET to discuss its 2022 financial results and corporate developments. U.S. callers can dial toll-free 888-506-0062, while international callers can reach the call at +1 973-528-0011, using access code 333430. An audio replay will be available until April 15, 2023, by calling 877-481-4010 for U.S. callers and +1 919-882-2331 for international. The company is known for its advanced computerized drug delivery instruments that facilitate painless injections, utilizing patented DPS Dynamic Pressure Sensing Technology® for improved patient safety and comfort.
Milestone Scientific Inc. (NYSE: MLSS), a leader in computerized drug delivery instruments, has begun sales of its CompuFlo® Epidural disposables at the University Pain and Spine Center, following a successful evaluation by Dr. Didier Demesmin. Dr. Demesmin endorses the CompuFlo Epidural Instrument for its objective measurement capabilities, enhancing procedure safety and speed. CEO Arjan Haverhals emphasized the importance of this adoption for establishing the CompuFlo Epidural System as the standard in epidural analgesia, boosted by recent FDA clearance for thoracic spine use, a significant step for market penetration.
Milestone Scientific (NYSE:MLSS) has commenced sales of CompuFlo Epidural disposables in three Colorado pain management clinics. This follows successful evaluations by Dr. Brad Sisson, MD, who reported a 100% success rate in initial cases. The sales come shortly after receiving FDA clearance for thoracic use, signifying major advancements in patient safety and pain management efficiency. CEO Arjan Haverhals emphasized the technology's potential to improve outcomes and reduce risks in complex procedures.
Milestone Scientific Inc. (NYSE:MLSS) announced the registration of its CompuFlo® Epidural System with the U.S. Government's System for Award Management (SAM) on March 2, 2023. This registration is essential for bidding on government contracts, enabling the company to operate within federal agencies such as the Department of Defense and Veterans Affairs. CEO Arjan Haverhals highlighted the substantial market potential and the product's safety and efficiency benefits. The system is supported by clinical data showing reduced complication rates and potential cost savings for healthcare providers. Milestone also seeks Federal Supply Service approval for pricing uniformity.
Milestone Scientific (NYSE:MLSS) announced FDA clearance for its CompuFlo Epidural System for use in the thoracic region of the spine, extending its prior approval in the lumbar region. The device utilizes patented DPS Dynamic Pressure Sensing Technology® to aid anesthesiologists in safe needle placement, thereby reducing complications like dural punctures. Approximately 11 million epidural procedures are performed annually in the U.S. The clearance is expected to open new market opportunities, particularly for patients with complex anatomy.
Milestone Scientific Inc. (NYSE:MLSS) has entered into a distribution agreement with Sweden & Martina for exclusive rights to market its STA Single Tooth Anesthesia System® in Italy, Spain, Portugal, and France. This strategic partnership taps into markets with over 180 million people. Sweden & Martina, a notable European dental distributor, will replace the current distributor in Italy. The STA system aims to improve patient experiences by offering painless injections. This collaboration aligns with Milestone's growth strategy in expanding its market reach.
Milestone Scientific (MLSS) has entered a distribution agreement with TEKMIKA Health Technologies to exclusively market its STA Single Tooth Anesthesia System® in Brazil. This partnership allows TEKMIKA, a prominent distributor, to leverage its experience in the Brazilian dental market, which includes over 240,000 dentists. The STA system promises painless injections, shorter anesthesia wait times, and fewer complications. This expansion aligns with Milestone's strategy to penetrate new and existing markets, enhancing growth opportunities in Brazil, a significant dental market.
Milestone Scientific (NYSE: MLSS) has appointed Neal Goldman as the new Chairman of the Board of Directors, succeeding Leslie Bernhard. Goldman, who has been on the board since 2019, brings over 35 years of financial experience, previously serving in senior positions at various firms. CEO Arjan Haverhals expressed optimism about Goldman’s appointment, indicating it aligns with the company's growth phase. The board acknowledged Bernhard's significant contributions in corporate governance and business strategy, strengthening the company's foundation for future advancements in medical technology.
Milestone Scientific (NYSE: MLSS) reported a 34.4% sequential increase in sales for Q3 2022, reaching approximately $2.2 million. Year-over-year revenue growth also occurred, with a 28.6% increase excluding sales to China. Despite challenges in the dental segment due to geopolitical factors, the medical division is seeing progress with new distributors for the CompuFlo Epidural System and the introduction of a new CPT code in January 2023, aimed at enhancing reimbursement pathways. The company maintains a solid cash position of $9.8 million.
Milestone Scientific (NYSE:MLSS) will host a conference call on November 15, 2022, at 8:30 AM ET to discuss its Q3 financial results for the period ending September 30, 2022. The call will address the company’s progress and developments in its innovative drug delivery technologies. U.S. participants can join by calling 877-545-0523, while international callers can reach +1 973-528-0016. An audio replay will be available until November 29, 2022. For more information, visit the Investor Relations page.
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