Milestone Scientific Inc (NYSEAMERICAN:MLSS) announced on Monday that thanks to a purchase order it received in late 2020, the company has begun selling CompuFlo disposables to the University of Texas Medical Branch at Galveston (UTMB).
UTMB, an institution of the University of Texas System, opened in 1891 as the nation’s first public medical school and hospital. It is now a thriving academic health sciences center with global clout, with schools of Medicine, Nursing, Health Professions and Graduate Biomedical Sciences; four institutes for advanced study; and a network of hospitals. More than 46,000 jobs in Texas are chalked up to UTMB.
Roseland, New Jersey-based Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless.
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The company said the clinical and safety benefits of the CompuFlo Epidural/ CathCheck Systems are backed by extensive published clinical data showing significant reductions in epidural punctures, as well as complication rates. Similarly, its CathCheck technology has the potential to transform the monitoring of catheter placement following an epidural procedure by confirming the placement of a catheter within 2 minutes, versus 20-to-40 minutes using conventional methods.
In a statement, Leonard Osser, who is the interim CEO of Milestone Scientific said: “We are encouraged to announce this decision by UTMB, a leading regional hospital and medical teaching institute. We believe this will be the first of many such hospitals to come, and we commend UTMB on their commitment to the health and safety of their patients.”
“We believe the use of the CompuFlo provides a level of safety and efficiency not otherwise available for patients. Furthermore, as a major teaching institute, we believe UTMB will have the opportunity to shorten the training time and increase efficiencies for residents performing epidural procedures through the use of our instrument and disposables.”
Additionally, the use of CathCheck will provide physicians the opportunity to monitor catheter placement after a procedure.
“The use of our instruments and disposables provide a significant economic benefit to the institution. We believe this is just the start of what we believe can be a steady commercial rollout in the weeks and months to come,” added Osser.
“Overall, the response from both hospitals and physicians has been very positive and we are in a number of similar trials across the country that we believe and expect will convert to commercial orders.”
Milestone Scientific President Arjan Haverhals said the firm has been working closely with Dr Rovnat Babazade, Assistant Professor at UTMB.
“We are grateful for his support. Dr Babazade previously conducted a study with the aim of evaluating the cost-effectiveness of the CompuFlo Epidural System with DPS Dynamic Pressure Sensing technology versus the traditional loss of resistance technique within the labor and delivery setting in medical centers,” said Haverhals.
“The results of the study suggest that when compared to the traditional LOR technique, real-time pressure sensing technology costs about $504 less per hospital stay on average. We appreciate the decision of Dr Babazade and his team to purchase our consumables following approval by the Value Analysis Team at UTMB.”
Haverhals noted that the decision by a leading US medical center “reinforces” the company’s confidence in the outlook for both CathCheck and CompuFlo, as well as the “significant market opportunity” as the company strives to become “the new standard of care in epidural procedures.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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