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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 American:MLSS) announced that CEO Arjan Haverhals will present at the 2022 MicroCap Rodeo Windy City Roundup Conference in Chicago on October 12. His presentation is scheduled for 2:30 p.m. Central Time and will be webcast live. Haverhals will also engage in one-on-one meetings with qualified investors during the event. The conference aims to connect investors with over 60 microcap companies and explore key trends for 2023. Interested parties can register or request a meeting via email or the conference website.
Milestone Scientific (MLSS) has commenced sales of its CompuFlo Epidural disposables to UofL Health after a successful evaluation. This innovative system enhances patient outcomes in obstetric anesthesia and pain management across multiple departments. CEO Arjan Haverhals highlighted the validation this partnership represents. The CompuFlo system's clinical data shows significant reductions in complications and time savings for anesthesiologists, offering a compelling economic advantage for healthcare facilities. This collaboration positions Milestone for future growth in the medical technology space.
Milestone Scientific (NYSE: MLSS) announced its Q2 2022 financial results, reporting revenues of $1.6 million, down from $2.4 million in Q2 2021. A significant decrease in dental sales, particularly in China, and the impact of the Russia-Ukraine conflict contributed to this decline. Gross profit fell to $681,000 (41% of revenue) due to a $430,000 allowance on finished goods. The net loss was $2.9 million, unchanged from the previous year. Despite challenges, Milestone is expanding its CompuFlo® Epidural System and is optimistic about future revenue growth, supported by $11 million in cash and cost reductions.
Milestone Scientific (NYSE:MLSS) announced a conference call scheduled for August 16, 2022, at 8:30 AM ET to discuss its Q2 2022 financial results. The call will cover the company’s corporate progress and other developments. Interested parties can join via telephone or listen to a webcast on their website. An audio replay of the call will be available until August 30, 2022. Milestone Scientific focuses on innovative injection technologies designed for medical, dental, and cosmetic applications, enhancing patient comfort and safety.
Milestone Scientific (NYSE:MLSS) has re-engaged Clinical Technology, Inc. (CTI) as a domestic distributor for the CompuFlo® Epidural System, following its adoption in major hospitals and pain management clinics. This collaboration aims to enhance the rollout of a technology recognized for its safety and economic benefits, including a new CPT code that supports potential reimbursement. The CompuFlo system offers significant cost savings, reducing hospital stay costs by approximately $504 compared to traditional methods.
Milestone Scientific (NYSE:MLSS) announced sales of its CompuFlo® Epidural system to the University of Scranton for use in its student registered nurse anesthesia program. This advanced technology enhances epidural procedures by providing real-time feedback, which can reduce risks associated with needle placement. The company's president emphasized the importance of training the next generation of nurse anesthetists, noting the increasing role they play in the field. Overall, the partnership aims to establish the CompuFlo system as a new standard of care in labor, delivery, and pain management.
Milestone Scientific (NYSE:MLSS) announced a distribution agreement with Hager & Werken to market its STA Single Tooth Anesthesia System in Germany and Austria. This system facilitates painless and precise injections, benefiting both patients and dentists by reducing wait times and complications. Hager & Werken, with its strong history in dental instruments, aims to enhance the adoption of this technology in these key markets, which collectively have over 90 million residents.
Milestone Scientific (NYSE: MLSS) has entered into an exclusive distribution agreement with F&M Feed in Greece for its CompuFlo Epidural System. This partnership aims to enhance the availability of innovative medical devices in the Greek market, where there are over 76,000 childbirths annually. The agreement has already led to the commencement of sales and shipments to Greece, reflecting a strong market opportunity. Both companies believe that this collaboration will improve patient outcomes and optimize medical practices in the region.
Milestone Scientific (NYSE:MLSS) announced the successful commencement of sales for its CompuFlo Epidural disposables at a prominent Southern California medical center recognized for maternity care. This facility is part of a large healthcare system that delivers over 100,000 babies annually. CEO Arjan Haverhals highlighted the company's growing presence in the labor market. Additionally, the AMA has approved a new CPT code for the CompuFlo system, expected to enhance commercialization in various markets, including pain management.
Milestone Scientific (NYSE:MLSS) announced the issuance of a new Category III CPT code by the American Medical Association for its CompuFlo Epidural System. This code, effective January 1, 2023, aims to enhance reimbursement opportunities for epidural procedures. The CPT Editorial Panel validated the technology based on clinical studies, which indicate improved accuracy and reduced complications in pain management. CEO Arjan Haverhals highlighted the potential of this development to accelerate commercial rollout and increase market penetration, especially in the chronic pain segment.
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