MILESTONE: strona spółki
17.05.2021, 21:43
MMD The update on commercial rollout of CompuFlo Epidural System in the first quarter 2021
The Board of Directors of Milestone Medical Inc. (WAR: MMD, “the Company”, “the Issuer”) today provided a business update for the first quarter ended March 31, 2021.
The Board of Directors of the Company informs that the Company’s primary focus has been, and continues to be, the commercialization of the CompuFlo Epidural System. Specifically, now that the Company has penetrated several medical institutions with CompuFlo® Epidural Instrument and CathCheck™ System, the Issuer is aggressively building its sales and marketing organization to prepare for the next phase of our growth. The Board of Directors of the Company believes these latest commercial orders from several recognized hospitals is validation that the technology provides a level of safety and efficiency not currently available to medical professionals using conventional syringes. The Board of Directors of the Company truly believes that 2021 will be a transformative year for the medical business and an important turning point as Milestone Scientific Inc., the parent of the Company (“MLSS”) and the Company execute its joint goal of establishing our medical instruments and disposables as the new standard of care for epidural procedures in labor and delivery. The strong balance sheet of MLSS with approximately $17 million of cash and cash equivalents as of March 31, 2021, provides the Company with substantial resources and the ability to accelerate the sales and marketing activities around both medical instruments. It also allows MLSS and the Company to advance the development and commercialization of other indications for our proprietary DPS Dynamic Pressure Sensing Technology, which the Board of Directors of the Company believes represent further growth opportunities for the Company. Additionally, last week the Company announced the appointment of Arjan Haverhals as CEO of the Company and hired Scott Kahn as new CFO. Arjan has already proven his exceptional leadership as President of MLSS, and Scott will be instrumental, not only overseeing the financial infrastructure, but also helping to increase investor awareness as the Company executes its key milestones. Leonard Osser is looking forward to playing a counsel role in the further growth and success of the Company.
The Board of Directors of the Company informs that the Company’s primary focus has been, and continues to be, the commercialization of the CompuFlo Epidural System. Specifically, now that the Company has penetrated several medical institutions with CompuFlo® Epidural Instrument and CathCheck™ System, the Issuer is aggressively building its sales and marketing organization to prepare for the next phase of our growth. The Board of Directors of the Company believes these latest commercial orders from several recognized hospitals is validation that the technology provides a level of safety and efficiency not currently available to medical professionals using conventional syringes. The Board of Directors of the Company truly believes that 2021 will be a transformative year for the medical business and an important turning point as Milestone Scientific Inc., the parent of the Company (“MLSS”) and the Company execute its joint goal of establishing our medical instruments and disposables as the new standard of care for epidural procedures in labor and delivery. The strong balance sheet of MLSS with approximately $17 million of cash and cash equivalents as of March 31, 2021, provides the Company with substantial resources and the ability to accelerate the sales and marketing activities around both medical instruments. It also allows MLSS and the Company to advance the development and commercialization of other indications for our proprietary DPS Dynamic Pressure Sensing Technology, which the Board of Directors of the Company believes represent further growth opportunities for the Company. Additionally, last week the Company announced the appointment of Arjan Haverhals as CEO of the Company and hired Scott Kahn as new CFO. Arjan has already proven his exceptional leadership as President of MLSS, and Scott will be instrumental, not only overseeing the financial infrastructure, but also helping to increase investor awareness as the Company executes its key milestones. Leonard Osser is looking forward to playing a counsel role in the further growth and success of the Company.