Milestone Scientific Signs Distribution Agreement with Paragon Care Limited
Expands availability of the CompuFlo® Epidural System to anesthesiologists in Australia
LIVINGSTON, NJ / ACCESSWIRE / August 5, 2019 / Milestone Scientific Inc. (NYSE American:MLSS) today signed an exclusive distribution agreement for the CompuFlo® Epidural System with Paragon Care Limited, a leading provider of medical equipment, devices and consumables in Australia.
Epidural anesthesia is used in one third of the approximately 300,000 births in Australia each year. Reduction in complications, analgesia failures and associated cost is essential to increasing the popularity of epidurals in childbirth.
The CompuFlo Epidural System offers an alternative to the conventional syringe that relies on subjective perception to identify the epidural space. CompuFlo’s real-time Dynamic Pressure Sensing technology® is the first to measure-at the tip of a needle- pressure changes that are imperceptible by touch. This intelligence allows anesthesiologists to objectively and reliably identify the epidural space on the first attempt for improved anesthesia outcomes.
John Christiansen, General Manager of Capital & Consumables, Paragon Care, stated, “We seek disruptive technologies that improve both patient experience and outcomes. Our analysis found CompuFlo’s objective, quantifiable and real-time pressure detection provides a measure of safety not currently available in epidural anesthesia. We are confident that medical professionals will quickly recognize how knowing the precise location of a needle during an epidural procedure can reduce expensive complications and improve pain relief in labor and delivery.”
Sharon Smith, Executive Vice President of Global Sales and Marketing of Milestone Scientific, commented, “Paragon Care is an excellent partner with deep reach into Australian hospitals and medical schools. Our shared vision of applying advanced technology solutions for better patient experiences and outcomes will be an asset as we collaborate to build a new standard of care with of the CompuFlo Epidural System.”
About Paragon Care Limited
Paragon Care is an Australian based listed company and a leading provider of medical equipment, devices and consumables for the Australian and New Zealand market. Paragon Care has positioned itself to provide advanced technology solutions yielding recurring revenue streams in acute and ancillary care environments.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a medical device company that patents, designs, develops and commercializes innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone’s proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.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, 2018. 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.
David Waldman or Natalya Rudman
Crescendo Communications, LLC
SOURCE: Milestone Scientific, Inc.
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Released August 5, 2019