ROSELAND, N.J., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announces it has commenced sales of its STA Single Tooth Anesthesia System® (STA) with Maine Dental Group, a premier group of 21 dental practices across the northeastern United States.
Arjan Haverhals, Chief Executive Officer of Milestone Scientific, noted, “We are honored to add Maine Dental Group to our growing roster of dental practices, and believe this agreement is further validation of our new direct sales model, as well as our emphasis on Dental Service Organizations (DSOs) and large group practices, which we initiated last year. We are executing our new sales strategy, which allows us to leverage a lean sales organization, while providing a cost-effective means to scale the business. According to the American Dental Association, approximately 23% of all dentists are now affiliated with group practices and DSOs. Although this latest relationship required a long introductory period, we believe that having such a prestigious large group practice will help shorten our sales cycle and enable us to further penetrate the DSO market going forward. Moreover, we now have the ability to support these customers on an ongoing basis, through both our new sales portal and educational programs to enhance the customer experience, as well as maximize the relationship over time. In addition to targeting the DSO market, we are rolling out a variety of new marketing initiatives to drive greater awareness of our technology among dental practices nationwide.”
Dr. Jin Hwang, CEO of Maine Dental Group, stated, “The STA allows our practices to provide a painless and more pleasant experience for patients, which has helped to attract and retain patients. In addition, the STA has allowed us to improve the efficiency of our practices by reducing the time required before the onset of full anesthesia, thereby enabling us to see more patients in less time. We could not be more pleased with the STA, and plan on expanding its use within our group.”
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a biomedical technology company that patents, designs, develops and commercializes innovative diagnostic and therapeutic injection technologies and devices for medical and dental use. Since inception, Milestone Scientific has engaged in pioneering proprietary, innovative, computer-controlled injection technologies, and solutions for the medical and dental markets.
Milestone Scientific has developed a proprietary, revolutionary, computer-controlled anesthetic delivery device, our DPS Dynamic Pressure Sensing Technology® System, to meet the needs of various subcutaneous drug delivery injections and fluid aspiration – enabling healthcare practitioners to achieve multiple unique benefits that cannot currently be accomplished with the 160-year-old manual syringe. The company’s proprietary DPS Dynamic Pressure Sensing technology is a technology platform that advances the development of next-generation devices. It regulates flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, used in various dental and medical injections. It has specific medical applications for epidural space identification in regional anesthesia procedures. 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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