Wednesday, June 10, 2015 8:03:16 AM
Milestone Scientific’s Epidural & IA Subsidiary and Moss S.p.A. Sign Exclusive Distribution Agreement for Epidural Instrument in Italy
Announces Plans to Broaden U.S. Distribution Strategy
LIVINGSTON, NJ, June 10, 2015 -- Milestone Scientific Inc. (NYSE MKT: MLSS), a medical R&D company that designs, patents, incubates and commercializes a growing portfolio of innovative injection technologies, today announced that its Epidural & Intra-Articular (IA) Subsidiary has entered into an exclusive distribution agreement with Moss S.p.A. for distribution of the epidural instrument in Italy. Moss is one of the leading distributors of diagnostic and specialty surgery equipment in Italy.
The term of the agreement between Milestone Scientific’s Epidural & IA subsidiary and MOSS S.p.A. is three years and includes annual minimum purchases of epidural instruments and disposable kits. Milestone will provide sales literature, organize training classes and provide product, while Moss S.p.A. will be responsible for sales and marketing support, including advertising, product placement in catalogs, product displays and trade exhibits. MOSS has also committed to hiring 15 sales representatives dedicated to the sale of the epidural instrument within the first year.
Leonard Osser, Chief Executive Officer of Milestone Scientific commented, “Italy is a viable market for our epidural instrument with over 1 million epidurals administered for surgery per year and over 60,000 epidurals administered for childbirth. Since its founding in 2000, Moss has demonstrated its ability to assess market needs and to successfully address those needs with innovative products in the medical arena. Moss’ extensive distribution capabilities in Italy will benefit Milestone and we are pleased to have them as our exclusive distribution partner in the region.”
The Epidural & IA Subsidiary also announced plans to broaden its U.S. distribution strategy beyond the current focus on labor and delivery markets.
Mr. Osser continued, “While our prior distribution partner in the U.S. maintains a solid network within birthing centers across the U.S., we’ve decided after discussion with other distributors in the pain management sector that an exclusive arrangement in this arena was too limiting given the overlap between anesthesiologists in private clinics and hospitals. These practitioners have the ability to use our instrument for both labor and delivery, as well as other pain management applications. In the U.S. alone, there are 8.9 million annual procedures that fall outside of the labor and delivery segment, many in private pain management clinics. As a result, the company believes a build out of a network of regional distribution partners whose strengths include hospitals, clinics and pain management centers will give us far greater penetration in the broader U.S. market. We look forward to announcing these partnerships in the coming months and believe that this strategy will result in greater market penetration within the respective regions. At the same time, our U.S. trials are moving forward and we look forward to announcing additional milestones in the near future.”
Recent MLSS News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/11/2024 05:07:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 09:05:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 09:05:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 09:05:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 09:04:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 09:03:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/21/2024 09:03:28 PM
- Milestone Scientific Provides Business Update and Reports Financial Results for the Second Quarter of 2024 • GlobeNewswire Inc. • 08/15/2024 11:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:00:32 PM
- Milestone Scientific Schedules Second Quarter 2024 Financial Results and Business Update Conference Call • GlobeNewswire Inc. • 08/12/2024 03:00:00 PM
- Milestone Scientific Announces Strategic Partnership with Axial Biologics to Distribute CompuFlo® in New Jersey, Texas, and Florida • GlobeNewswire Inc. • 08/07/2024 02:00:00 PM
- Milestone Scientific Secures Key Patent Approvals in the U.S. and Europe • GlobeNewswire Inc. • 07/30/2024 12:30:00 PM
- Milestone Scientific Announces Medicare Price Assignment for the CompuFlo® Epidural System in Texas, Pennsylvania, New Jersey, Maryland, Colorado, Oklahoma, Louisiana, Arkansas, Mississippi, New Mexico, District of Columbia, and Delaware • GlobeNewswire Inc. • 07/23/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/18/2024 07:47:33 PM
- Milestone Scientific Announces Favorable Medicare Pricing for its CompuFlo® Epidural System within First JMAC Region Covering Florida • GlobeNewswire Inc. • 07/10/2024 12:30:00 PM
- Milestone Scientific Receives Regulatory Approval to Market CompuFlo® Epidural System in Brazil • GlobeNewswire Inc. • 06/18/2024 03:00:00 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 06/05/2024 06:11:22 PM
- Milestone Scientific Reports Revenue of $2.2 Million and Provides Business Update for the First Quarter of 2024 • GlobeNewswire Inc. • 05/16/2024 11:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 08:01:31 PM
- Milestone Scientific Schedules First Quarter 2024 Financial Results and Business Update Conference Call • GlobeNewswire Inc. • 05/13/2024 12:30:00 PM
- Milestone Scientific Commences Sales of CompuFlo® Epidural Disposables within PRC Alliance Pain Relief Center in Ormond Beach, Florida • GlobeNewswire Inc. • 04/03/2024 12:30:00 PM
- Milestone Scientific Achieves 12% Increase in Revenue and 39% Increase in Gross Profit for the Year Ended 2023 • GlobeNewswire Inc. • 04/01/2024 11:00:00 AM
- Milestone Scientific Schedules 2023 Year-End Financial Results and Business Update Conference Call • GlobeNewswire Inc. • 03/28/2024 03:45:00 PM
- Milestone Scientific Commences Sales of CompuFlo® Epidural Disposables within Omaha Pain Physicians • GlobeNewswire Inc. • 03/14/2024 12:30:00 PM
- Milestone Scientific Commences Direct Sales of STA Single Tooth Anesthesia System® with Meridian Endo & Perio • GlobeNewswire Inc. • 02/28/2024 01:30:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM