Milestone Scientific begins commercial sales of CompuFlo at NJ pain center

ROSELAND, N.J. - Milestone Scientific Inc. (NYSE:MLSS), a medical device company with a market capitalization of $48.5 million and impressive gross margins of 74%, has initiated commercial sales of its CompuFlo Epidural System at The Painless Center in Tenafly, New Jersey, according to a press release issued Thursday.

The pain management facility is led by Dr. Chi-Shin Jason Chiu, who is double board-certified in Pain Management and Anesthesiology and serves as Director of Pain Management and Anesthesia Medical Education at Newark Beth Israel Medical Center.

The CompuFlo system utilizes the company’s Dynamic Pressure Sensing technology to provide real-time feedback during epidural procedures. According to the company, clinical studies have shown the system can reduce false loss of resistance, minimize complications, and improve success rates in epidural procedures.

"The CompuFlo system offers real-time confirmation during epidural injections, which helps us perform procedures with greater precision and confidence," Dr. Chiu stated in the release.

Neal Goldman, Chairman and Interim CEO of Milestone Scientific, noted that this deployment follows previous CompuFlo installations at other medical institutions and pain practices.

Milestone Scientific develops computerized drug delivery instruments designed for painless and precise injections. The company stated it continues to pursue sales and marketing initiatives to increase adoption of the CompuFlo system in U.S. and international markets.

The announcement represents the latest commercial implementation of the company’s technology in the interventional pain management sector.

In other recent news, Milestone Scientific Inc. announced its financial results, ending the first quarter with $2.2 million in cash and no debt, following a strong fourth-quarter close with $3.3 million in cash. Benchmark analysts reiterated a Speculative Buy rating for the company, maintaining a price target of $1.25. This target is based on a projected 2030 revenue of $26 million, discounted back to the end of 2025 using an 8.8% weighted average cost of capital. Milestone Scientific is actively expanding in the Medicare market for pain management with its CompuFlo System, which currently has coverage from three out of twelve Medicare Administrative Contractors. The company aims to secure coverage from the remaining nine MACs and pursue reimbursement from private payors, potentially expanding its market to nine million procedures. Additionally, Milestone Scientific appointed Shanth Thiyagalingam to its Board of Directors to drive growth and strategic execution. His experience in the medical device and pharmaceutical sectors is expected to bolster the company’s expansion strategies. The company is also focusing on leveraging favorable Medicare Part B payment rates and a Federal Supply Schedule contract award to increase adoption and access.

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