Milestone Scientific Commences Sales of CompuFlo® Epidural Disposables within Island Ambulatory Surgery Center in Brooklyn, New York
Represents first sales by the Company into an ambulatory surgery center
Follows successful evaluation by Island Ambulatory Surgery Center’s founder and medical director, Dr. Leon Reyfman, reporting 100% success
ROSELAND, N.J., Nov. 09, 2023 (GLOBE NEWSWIRE) — Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that it has commenced sales of CompuFlo® Epidural disposables into Island Ambulatory Surgery Center, a multi-specialty ambulatory surgery center based in Brooklyn, New York with a focus on pain management, orthopedics and spine care, urology, podiatry and plastic surgery. Island Ambulatory Surgery Center is affiliated with Mount Sinai Health System (MSHS), which operates 19 hospitals across New York.
Sales to Island Ambulatory Surgery Center represent the Company’s first foray into the ambulatory surgery center market—an addressable market of more than 9,000 centers across the U.S.
Adoption of the technology by this center follows a successful evaluation process by its founder and medical director, Dr. Leon Reyfman, MD, MBA, an interventional pain medicine physician, who is board-certified by the American Board of Anesthesiology in both anesthesiology and pain medicine. Dr. Reyfman currently serves as the Assistant Clinical Professor of Anesthesiology at SUNY Downstate Medical School. Dr. Reyfman is a member of the American Society of Interventional Pain Physicians as well as the International Spine Intervention Society.
Dr. Leon Reyfman was one of a team of four doctors who completed eighteen cases using the CompuFlo Epidural system at Island Ambulatory Surgery Center, in which they reported 100% success. The evaluation included Epidural Steroid Injection (ESI) procedures within the lumbar, thoracic and cervical thoracic junction of the spine.
Dr. Leon Reyfman commented, “Following my evaluation, I believe the CompuFlo Epidural System has the potential to transform drug delivery in pain management and anesthesiology. The instrument helps physicians navigate the challenging anatomical regions in the thoracic region and cervical thoracic junction in real time, which is particularly valuable given the complexity and risks associated with these procedures. The instrument is easy to use and provides both audible and visual feedback, including confirmation of epidural placement, to enhance predictability and safety of the procedure.”
Arjan Haverhals, CEO and president of Milestone Scientific, stated, “We are proud to announce the adoption of our technology by Island Ambulatory Surgery Center, following a successful evaluation period. Moreover, this marks an important milestone as it represents the first commercial adoption of the CompuFlo® Epidural System within an ambulatory surgery center.”
Mr. Haverhals continued, “We look forward to assisting these clinicians in submitting claims to insurance providers, which should help in ramping up our reimbursement activities around the CompuFlo® Epidural System. Based on the favorable response to our technology, we remain confident that the CompuFlo Epidural system will ultimately become the standard of care in epidural analgesia.”
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, 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.
Contact: David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020
