Milestone Scientific Unveils CompuFlo Epidural System Breakthrough

Milestone Scientific Launches New Epidural System

Milestone Scientific Inc. (NYSE: MLSS), a pioneer in advanced drug delivery systems, has made waves in the medical device industry with the launch of their innovative CompuFlo Epidural System. This announcement comes as the company continues to expand its reach, boasting a market capitalization of approximately $101 million. The new system was officially introduced at Advanced Spine and Pain Management—a prominent clinic in pain management—marking a significant step for the company in clinical applications.

Enhanced Safety and Efficiency in Pain Management

The CompuFlo Epidural System utilizes Milestone Scientific's patented Dynamic Pressure Sensing Technology to provide real-time feedback for precise needle placement during procedures. This advancement aims to minimize complications associated with traditional epidural methods, promoting a safer experience for patients.

Doctors Endorse the System's Clinical Benefits

Dr. Varinder Dhillon, a practitioner at Advanced Spine and Pain Management, has expressed confidence in the system's capabilities. His endorsement underscores the technology's potential to streamline processes in clinical settings and enhance patient outcomes. The successful integration of this system in Dr. Dhillon's practice is anticipated to pave the way for its wider implementation across other medical facilities.

Wider Adoption and Financial Health

The CompuFlo Epidural System's operation has expanded to SurgiCore Montvale, one of the numerous centers within the SurgiCore network located in the New York/New Jersey area. This strategic positioning indicates the potential for broader usage throughout the health system. Notably, with the recent Medicare price assignment favoring the CompuFlo Epidural System, its clinical acceptance is expected to increase, marking a significant milestone for Milestone Scientific.

Financial Overview of Recent Developments

Recent analyses show that the company has maintained robust financial health, showcased by a current ratio standing at an impressive 2.85, alongside significant gross margins of about 72%. In the latest quarterly report, Milestone Scientific revealed a 22% increase in revenue year-over-year, totaling $2.5 million, largely due to a 57% rise in international dental sales. Despite this positive growth trajectory, the firm reported a net loss of $1.5 million for the quarter.

Leadership Insights and Company Outlook

Neal Goldman, who serves as the Chairman and Interim CEO of Milestone Scientific, expressed a hopeful outlook regarding the adoption of the CompuFlo Epidural System within the healthcare community. He attributes this optimism to both the merits of the technology and recent developments in Medicare pricing that may facilitate broader acceptance of their innovations.

Expanding International Footprint

In recent news, Milestone Scientific's medical division is actively making strides with their CompuFlo Epidural System, especially following its receipt of Medicare Part B reimbursement. This reimbursement is anticipated to enhance the system's popularity among pain management clinics nationwide. Moreover, the company has secured regulatory approval for the CompuFlo system in Brazil, further extending its market reach and potential influence in international healthcare.

Recent Changes in Company Leadership

Additionally, the company has recently announced the immediate resignation of Mr. Giandomenico Trombetta from his position as director, a decision attributed to personal reasons as detailed in their latest 8-K filing with the Securities and Exchange Commission. Importantly, it's clarified that Mr. Trombetta's departure was not related to any disagreements regarding the company's operations.

Frequently Asked Questions

What is the CompuFlo Epidural System?

The CompuFlo Epidural System is an advanced medical device designed to enhance the accuracy and safety of epidural injections using real-time pressure sensing technology.

Who endorsed the use of the CompuFlo system?

Dr. Varinder Dhillon at Advanced Spine and Pain Management endorsed the CompuFlo system, highlighting its benefits in improving patient safety and procedural efficiency.

What financial growth has Milestone Scientific reported?

Milestone Scientific reported a 22% year-over-year revenue increase, reaching $2.5 million, primarily driven by a surge in international dental sales.

Has the CompuFlo system gained Medicare reimbursement?

Yes, the CompuFlo Epidural System has received Medicare Part B reimbursement, which is expected to promote its use in pain management clinics.

What recent leadership change occurred at Milestone Scientific?

Mr. Giandomenico Trombetta has resigned as director due to personal reasons, with no disagreements related to the company’s operations noted.

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