Reports Expanding Adoption of CompuFlo® Epidural System Following Previously Announced Medicare Price Assignment
ROSELAND, N.J., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced the commercial rollout of its CompuFlo® Epidural System at Advanced Spine and Pain Management, LLC, a premier pain management clinic. This rollout follows a successful pilot program conducted with Dr. Varinder Dhillon, whose expertise and feedback validate the clinical benefits of the CompuFlo® Epidural System in enhancing patient safety and procedural efficiency.
Advanced Spine and Pain Management operates out of SurgiCore Montvale, one of 12 SurgiCore centers located in the New York/New Jersey metropolitan area, highlighting the opportunity for further expansion within the SurgiCore network. In addition, the Company reports increasing adoption of the CompuFlo® Epidural System following the previously announced Medicare price assignment, reflecting its clinical and economic benefits.
The CompuFlo® Epidural System, utilizing Milestone Scientific's patented Dynamic Pressure Sensing Technology®, provides real-time feedback to confirm accurate needle placement during epidural procedures. This innovative technology significantly reduces the risk of complications associated with traditional techniques, enhancing both patient safety and procedural efficiency.
Dr. Dhillon commented, "The CompuFlo® Epidural System has transformed the way we approach epidural procedures. The technology's precision and reliability enable us to deliver safer and more comfortable care to our patients, while also improving procedural efficiency. I am thrilled integrate it into my workflow at Advanced Spine and Pain Management, and am confident it will continue to deliver outstanding results."
Neal Goldman, Chairman and Interim Chief Executive Officer of Milestone Scientific, stated, "The adoption of the CompuFlo® Epidural System by Dr. Dhillon at Advanced Spine and Pain Management illustrates our traction within the healthcare community. With the recent Medicare price assignment, we are witnessing increased adoption of the CompuFlo Epidural System across pain management clinics and other healthcare facilities nationwide."
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, 2023. 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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