ROSELAND, N.J., July 07, 2022 (GLOBE NEWSWIRE) -- 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 and evaluation, it has commenced sales of its CompuFlo® Epidural disposables to a leading medical center in Southern California, which has been designated as one of the Best Maternity Care Hospitals by Newsweek. This medical center also belongs to one of the nation’s largest not-for-profit healthcare systems serving over 10 million members, with more than 100,000 babies delivered each year across multiple states.
Arjan Haverhals, CEO of Milestone Scientific commented, “We are honored to have been approved as a vendor to commence sales of our CompuFlo Epidural disposables within a leading medical center in Southern California. The addition of this hospital illustrates our continued traction in the labor and delivery market across the country, and further validates the favorable response to our technology by leading anesthesiologists. The CompuFlo Epidural instrument provides a measurable benefit by precisely and accurately identifying the location of the needle in real-time.”
“In addition to adding new hospitals, as previously announced, the American Medical Association (AMA) recently issued a new technology-specific Category III Current Procedural Terminology (CPT®) code for the CompuFlo Epidural system, which we believe will only help accelerate the commercial rollout of our instrument, especially as we expand into new markets such as pain management,” continued Mr. Haverhals.
The clinical and safety benefits of the CompuFlo Epidural and CathCheck Verification System are backed by numerous published clinical studies demonstrating reductions in epidural punctures and complication rates, and can contribute to time savings on the part of anesthesiologists. A recent study has shown that the CompuFlo Epidural instrument has the potential to significantly reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions. 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.
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, 2021. 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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