ROSELAND, N.J., March 02, 2023 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provides painless and precise injections, today announced that its CompuFlo® Epidural System has been granted registration with the U.S. Government’s System for Award Management (SAM). A SAM registration is required for entities to bid on contracts and conduct business with federal government agencies, including the Department of Defense, Department of Veterans Affairs, Indian Health Service and other government agencies.
Arjan Haverhals, Chief Executive Officer of Milestone Scientific, noted, “We are pleased to receive this SAM registration for the CompuFlo® Epidural System, which is required by all commercial entities to sell products within the U.S. government. Given the safety benefits and efficiencies associated with our instrument, we believe there is a significant market opportunity within agencies such as the Department of Defense and the Department of Veterans Affairs, where we believe our system will contribute to improved patient outcomes. This approval is an important step in the overall decision-making and payment process. In addition, we are actively pursuing U.S. Federal Supply Service (FSS) approval for the CompuFlo® Epidural Instrument which, if granted, would provide uniform pricing across government agencies.”
The clinical and safety benefits of the CompuFlo Epidural System are backed by extensive published clinical data demonstrating significant reductions in dural punctures, as well as complication rates, and contribute to savings of time on the part of providers. An independent study has shown that the CompuFlo Epidural System has the potential to reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions.
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, 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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