ROSELAND, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments, that provide painless and precise injections, today reported that, following a successful evaluation, it has commenced sales of its CompuFlo(TM) Epidural disposables to UofL Health (University of Louisville), a leading academic health system based in Louisville, Kentucky. UofL Health owns and operates six hospitals and four medical centers, providing patient care to more than 1.5 million patients each year in the state of Kentucky. UofL Health has begun implementing the CompuFlo Epidural System for obstetric anesthesia, acute pain, and chronic pain within its labor and delivery (L&D), operating room (OR) and pain clinic teams.
Arjan Haverhals, CEO of Milestone Scientific commented, "We are honored to announce the adoption of the CompuFlo Epidural System and its CathCheck capability at this leading academic institution. The instrument is being employed in three distinct departments: labor & delivery, acute pain and in the operating room. We are encouraged by this validation as we execute our strategy to become the new standard of care based on improved patient outcomes at lower costs."
The clinical and safety benefits of the CompuFlo Epidural and CathCheck Verification Systems are backed by extensive published clinical data demonstrating significant reductions in epidural punctures, as well as complication rates, and contribute to a significant savings of time on the part of anesthesiologists. A recent study has shown that the CompuFlo Epidural instrument has the potential to significantly reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions.
About UofL Health
UofL Health is a fully integrated regional academic health system with six hospitals, four medical centers, Brown Cancer Center, Eye Institute, nearly 200 physician practice locations, and more than 800 providers in Louisville and the surrounding counties, including southern Indiana. Additional access to UofL Health is provided through a partnership with Carroll County Memorial Hospital. With more than 12,000 team members - physicians, surgeons, nurses, pharmacists and other highly-skilled health care professionals, UofL Health is focused on one mission: to transform the health of communities we serve through compassionate, innovative, patient-centered care. To learn more, visit: www.uoflhealth.org.
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(TM) 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, 2021. 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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