Milestone Scientific Expands Commercial Rollout of the CompuFlo® Epidural System with Esteemed Pain Management Physician Dr. Elbaz at Hudson Specialty Care
Recent Medicare Price Assignment Driving Increased Access to CompuFlo
Milestone Scientific to Attend New York and New Jersey Pain Medicine Congress 2024
ROSELAND, N.J., Nov. 01, 2024 (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 Hudson Specialty Care, led by renowned physician Dr. Elbaz. This latest agreement is a direct result of the Company’s recent partnership with Axial Biologics, underscoring the success of this collaboration as Milestone’s sales pipeline expands, with additional pilot programs underway in New Jersey, Texas, and Florida.
This agreement also follows CompuFlo’s recent 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).
Dr. Elbaz, an accomplished expert in spinal health and pain management, brings his extensive expertise to Hudson Specialty Care, where he and his team are committed to adopting cutting-edge technologies that improve patient outcomes.
“We are thrilled to partner with Dr. Elbaz and the dedicated team at Hudson Specialty Care to expand the reach of our CompuFlo Epidural System,” stated Arjan Haverhals, CEO of Milestone Scientific. “This expansion into a premier Northeast pain management clinic, coupled with our recent Medicare price assignment and growing pipeline, demonstrates the traction we are gaining as we work to elevate the standard of care in epidural procedures with a focus on clinical precision and safety.”
Dr. Elbaz added, “At Hudson Specialty Care, we continually seek innovative solutions to deliver the highest quality care to our patients. The CompuFlo Epidural System’s real-time pressure-sensing capabilities provide us with a new level of confidence and accuracy, which is essential in improving patient outcomes and satisfaction in epidural procedures.”
Milestone Scientific also reports it will be attending the New York and New Jersey Pain Medicine Congress 2024, hosted by the New York and New Jersey Societies of Interventional Pain Physicians (NYSIPP & NJSIPP), held from November 7-10, 2024, at the Hyatt Regency in Jersey City, New Jersey. Established in 2011, the NYSIPP & NJSIPP Pain Medicine Symposium aims to educate healthcare professionals and promote the development of safe, high-quality, and cost-effective interventional pain management techniques for the diagnosis and treatment of pain and related disorders, ensuring patient access to these interventions.
Haverhals further noted, “We are excited to participate in the New York and New Jersey Pain Medicine Congress. This is a prime opportunity to showcase our CompuFlo® Epidural System to many of the leading pain management physicians in the NY/NJ area, highlighting how our technology can enhance precision, safety, and patient outcomes in epidural procedures.”
The CompuFlo Epidural System leverages proprietary, patented technology to allow anesthesiologists and pain management specialists to precisely identify the epidural space, reducing the risk of false placements. This breakthrough technology is designed to significantly improve the safety and efficiency of epidural procedures, contributing to better patient outcomes and faster recovery times.
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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