Milestone Scientific Announces Purchase Agreement for its CompuFlo® Epidural / CathCheck™ Verification System Disposables with a Premier Northeast Teaching Hospital
December 22, 2021 11:00 am
ROSELAND, N,J., Dec. 22, 2021 — Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments, that provide painless and precise injections, today reported, that following a successful trial, it has signed an agreement for the purchase of its CompuFlo® Epidural and CathCheck™ Verification System disposables with a major Northeast teaching hospital, which is part of one of the leading health systems in the United States.
“We are honored to announce adoption of our CompuFlo Epidural and CathCheck Verification System by yet another important and prestigious hospital,” said Arjan Haverhals, CEO of Milestone Scientific. “This approval follows an extensive trial, which further validates the safety and efficacy of our technology. As a teaching hospital, our tools provide residents, fellows and even seasoned physicians greater accuracy through real-time verification of epidural needle placement, as well as subsequent monitoring of catheter placement.”
“While our initial rollout is focused on the labor and delivery market, we are also targeting the pain management sector. Their network not only includes numerous hospitals, but also specialty centers, outpatient centers and sports medicine centers. Overall, we are receiving positive feedback and gaining recognition among both hospitals and physicians based on our ability to achieve better outcomes at a lower cost.”
The CompuFlo Epidural Instrument has the potential to significantly reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions. Similarly, the CathCheck Verification System technology has the potential to transform the monitoring of catheter placement following an epidural procedure by confirming the placement of a catheter within two minutes, versus the 20 to 40 minutes using conventional methods.
The clinical and safety benefits of the CompuFlo Epidural and CathCheck Verification Systems are backed by extensive published clinical data demonstrating significant reductions in epidural punctures, as well as complication rates, and contribute to a significant savings of time on the part of anesthesiologists.
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, dental and cosmetic 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, 2020. 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
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