Milestone Scientific Inc (NYSE:MLSS) told investors that its sales force expansion was paying off, as the company had won approval to supply its CompuFlo Epidural and CathCheck Verification System disposables across Florida's renowned Memorial Healthcare System network of hospitals.
The company, which has developed instruments that provide painless and precise injections, also reported that the flagship institution - the Memorial Regional Hospital in Hollywood - had begun using its CompuFlo Epidural Instrument.
The US state's Memorial network includes the Joe DiMaggio Children’s Hospital, Memorial Regional Hospital South, Memorial Hospital West, Memorial Hospital Miramar and Memorial Hospital Pembroke.
"We are excited to receive this approval for use of our CompuFlo Epidural and CathCheck Verification System disposables within Memorial Regional Hospital," said Arjan Haverhals, the CEO of Milestone Scientific, in a statement.
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"This approval follows extensive due diligence of our instrument within the hospital system. The validation of our system by this prestigious and renowned hospital system is most rewarding and beneficial to us at Milestone Scientific.
"This latest approval is a direct result of our new sales force expansion initiatives, and I’m encouraged by the growth of our sales pipeline and potential near-term opportunities."
The firm's CompuFlo Epidural Instrument can significantly reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions.
Also, the CathCheck Verification System technology can transform the monitoring of catheter placement following an epidural by confirming the placement of a catheter within two minutes, compared to 20 to 40 minutes using conventional methods.
The company also quoted anesthesiologist Professor G. Capogna, who is also a member of Milestone's scientific advisory board, and author of the recent book 'Epidural Technique in Obstetric Analgesia'.
In his book, he wrote: "Among new techniques, continuous real-time pressure-sensing technology is the only one that has been successfully validated and used in an adequate number of patients and that therefore may be considered as a new, promising technology with the potential of becoming the future standard for the epidural technique."
Milestone Scientific designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications.
Contact the author at giles@proactiveinvestors.com