Reports Robust Pipeline of Clinics in Trials Across Multiple States through Partnership with Axial Biologics
ROSELAND, N.J., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that iHeal Pain Center has adopted the CompuFlo® Epidural System following successful epidural steroid injection (ESI) procedures by Dr. Desai, DO. Dr. Desai has performed six cervical and two lumbar ESI procedures using the CompuFlo® Epidural System, leading to its integration within the clinic.
This milestone marks the launch of the next phase of Milestone Scientific's commercial activities, following the recent achievement of a granted Medicare Part B Physician payment rate with First Coast Service Options Inc. (FCSO) and Novitas Solutions, Inc. for the CompuFlo® Epidural System under the American Medical Association's (AMA) technology-specific Category III CPT® code CPT0777T (real-time pressure-sensing epidural guidance system when used in conjunction with a primary ESI procedure). The favorable Medicare Price Assignment was granted across multiple Jurisdictional Medicare Administrative Contractors (JMAC) regions, including key states such as Florida, Texas, Pennsylvania, New Jersey, Maryland, Colorado, Oklahoma, Louisiana, Arkansas, Mississippi, New Mexico, District of Columbia, and Delaware.
In addition to the Medicare pricing, Milestone Scientific recently announced a strategic partnership with Axial Biologics aimed at accelerating the adoption of the CompuFlo® Epidural System. The iHeal Pain Center represents the first clinic added through this partnership, with multiple customer pilots underway in key states such as New Jersey, Texas, and Florida.
"We are extremely pleased with our partnership with Axial Biologics, which has already led to the successful integration of the CompuFlo® Epidural System at iHeal Pain Center,” stated Arjan Haverhals, CEO of Milestone Scientific. "The feedback we've received from clinicians has been positive, particularly following the recent Medicare price assignment. The clinical benefits of the CompuFlo® system are clear-it provides real-time feedback, increasing precision for providers while reducing complications and enhancing patient safety. We are working tirelessly, providing demos and performing procedures at numerous clinics. This robust pipeline gives us confidence in our ability to convert these clinics into long-term users of the technology.”
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 and dental 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, 2022. 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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