Milestone Scientific Announces Commercial Rollout of CompuFlo® Epidural System at iHeal Pain Center Following Medicare Price Assignment
03 Oktober 2024 - 5:00PM
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.
Contact:
Crescendo
Communications, LLCEmail: mlss@crescendo-ir.comTel:
212-671-1020
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