Milestone Scientific Receives Purchase Orders for Single Tooth Anesthesia (STA(TM)) System From Henry Schein, Inc.
Fulfillment of Initial Orders, Representing Over $1.67 Million in Revenues to Milestone, Will Begin in March 2007
LIVINGSTON, N.J., Feb. 7 /PRNewswire-FirstCall/ -- Milestone Scientific, Inc. (OTC Bulletin Board: MLSS), the recognized leader in advanced injection technologies, today announced that in anticipation of the formal product launch and commercial availability of its new Single Tooth Anesthesia (STA(TM)) Delivery System later this quarter, Henry Schein, Inc. (Nasdaq: HSIC) has issued Milestone initial purchase orders for 500 STA Delivery Systems, 24 CompuDent(TM) systems and a range of related disposable products used in conjunction with both systems. The orders, collectively representing over $1.67 million in initial revenue to Milestone, are expected to begin being fulfilled in the first quarter with actual revenue recognition occurring upon shipments.
Last month, Milestone and Henry Schein, the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, announced that the companies entered a distribution agreement granting Henry Schein exclusive distribution rights to market Milestone's Single Tooth Anesthesia (STA(TM)) Delivery System and other products to dental professionals in the United States and Canada.
Commenting on the initial orders, Leonard Osser, Chairman and Chief Executive Officer of Milestone, stated, "It is clear that Henry Schein shares our expectations for a favorable response to the upcoming product launch of the STA Delivery System. Aside from marking a critical business achievement for Milestone, these orders, coupled with anticipated near term sales of the STA Delivery System, are expected to contribute measurably to our Company's fundamental growth in 2007."
Milestone's STA Delivery System is designed to allow dentists to immediately administer the periodontal ligament injection, to anesthetize a single tooth, without first administering a mandibular block that anesthetizes an entire quadrant of the jaw. The periodontal ligament injection is highly valued among dentists and the Milestone system allows it to be more efficiently administered, while avoiding collateral numbing of the cheek, lips and tongue. The STA Delivery System uses Milestone's patented CompuFlo(TM) with Dynamic Pressure Sensing (DPS(TM)) technology to provide the dentist with valuable information on the pressures created in the tissue being injected. The patented CompuFlo technology is believed to have broad applications in medicine and dentistry and STA Delivery System is the first commercial application using this advanced real time pressure sensing technology.
About Henry Schein, Inc.
Henry Schein, a Fortune 500(R) company, is recognized for its excellent customer service and highly competitive prices. The Company's four business groups -- Dental, Medical, International and Technology -- serve more than 500,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. The Company operates through a centralized and automated distribution network, which provides customers in more than 200 countries with a comprehensive selection of more than 70,000 national and Henry Schein private-brand products in stock, as well as over 100,000 additional products available to our customers as special order items. Henry Schein also offers a wide range of innovative value-added practice solutions for healthcare professionals, such as ArubA(R), the Company's electronic catalog and ordering system. Its leading practice-management software solutions have been installed in more than 50,000 practices, including DENTRIX(R) and Easy Dental(R) for dental practices, and AVImark(R) for veterinary clinics. Headquartered in Melville, N.Y., Henry Schein employs more than 11,000 people and has operations in 19 countries. The Company's sales reached a record $4.6 billion in 2005. For more information, visit the Henry Schein Web site at www.henryschein.com.
About Milestone Scientific, Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in pioneering proprietary, highly innovative technological solutions for the medical and dental markets. Central to the Company's IP platform and product development strategy is its patented CompuFlo(TM) technology for the improved and painless delivery of local anesthetic. Specifically, CompuFlo is a computer-controlled, pressure sensitive technology, which provides real-time readouts of pressures, fluid densities and flow rates, enabling the advanced delivery and removal of a wide array of fluids. The Single Tooth Anesthesia (STA(TM)) computer-controlled local anesthesia delivery system which uses this technology provides dentists with audible and visual signals as to in-tissue pressure. Milestone's existing painless injection systems are currently sold in 25 countries. For more information on these and other innovative Milestone products, please visit the Company's web site found at www.milesci.com.
Milestone Scientific, Inc. Safe Harbor Statement: This press release contains forward-looking statements regarding the timing and financial impact of the Milestone's ability to implement its business plan, expected revenues 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 and future business decisions, 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 on Form 10-KSB for the year ended December 31, 2006. 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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SOURCE Milestone Scientific, Inc.
Released February 7, 2007