Joe Martin Appointed CEO of Milestone Scientific
LIVINGSTON, N.J., Dec. 12 /PRNewswire-FirstCall/ -- Milestone Scientific, Inc. , the recognized leader in advanced injection technologies, today announced that the Board of Directors has named Joe Martin, Chief Executive Officer of the Company's medical division, as the new CEO of the Company and a member of its Board of Directors, effective January 1, 2008. As CEO, Martin replaces Leonard Osser, who will continue serving as the Chairman of the Board.
"We are very pleased that Joe has agreed to become Milestone's CEO and the newest addition to our Board of Directors," stated Osser. "Since Joe's arrival, he has been instrumental in directing and effecting positive changes in Milestone's operations. Given our longstanding belief that Milestone's ultimate success will stem from maximizing opportunities for our patented CompuFlo(R) technology in the medical arena, coupled with Joe's level of experience and expertise earned as an executive at Bayer and Abbott, there is simply no question that he is the ideal choice to assume leadership of our Company."
Martin has served as CEO of Milestone Medical since joining the Company in May 2007. Previously, he served as President of the Diabetes Care Division (DCD) at Bayer Healthcare, as well as a member of the Bayer HealthCare Executive Committee. From 1992 through 2005, Martin rose through the ranks at Bayer in managerial posts that included Senior Vice President and General Manager, Self-Testing Business Segment; Country Manager -- United Kingdom and Ireland; and Vice President, Marketing -- Immunodiagnostic Business Unit. From 1980 until 1992, Martin held various sales, marketing and general management roles of increasing responsibility, both domestically and internationally, at Abbott Laboratories -- Diagnostic Division. Martin is a graduate of the University of Houston, where he earned a Bachelors of Business Administration degree in Marketing and Accounting. Martin is the Past President of the Biomedical Marketing Association and served on the Board of Directors of Life Treatment Centers in South Bend, Indiana.
Commenting on his new appointment, Martin noted, "As I see it, working towards having Milestone's CompuFlo technology globally recognized and adopted as a key enabler of a wide range of innovative medical and extra-medical applications is my most important directive as the Company's new CEO. However, I also understand and appreciate that we must build and maintain a highly productive, revenue-producing business platform that can and will support our more ambitious growth strategies. As such, I'm looking forward to advancing the important progress that Milestone has made with the commercialization of the STA System in the worldwide dental industry, while also capitalizing on exciting product development opportunities we are pursuing within the medical marketplace."
About Milestone Scientific, Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in pioneering proprietary, highly innovative technological solutions for the medical and dental markets. Central to the Company's IP platform and product development strategy is its patented CompuFlo(R) technology for the improved and painless delivery of local anesthetic. Specifically, CompuFlo is a computer-controlled, pressure sensitive infusion, perfusion, suffusion and aspiration technology, which provides real-time readouts of pressures, fluid densities and flow rates, enabling the advanced delivery and removal of a wide array of fluids. The Single Tooth Anesthesia (STA(TM)) computer-controlled local anesthesia delivery system which uses this technology provides dentists with audible and visual signals as to in-tissue pressure. Milestone's existing painless injection systems are currently sold in 25 countries. For more information on these and other innovative Milestone products, please visit the Company's web site found at http://www.milesci.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of the Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report on Form 10-KSB for the year ended December 31, 2006. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
CONTACT: Dodi Handy, President and CEO, or Daniel Conway, Chief
Strategist, both of Elite Financial Communications Group, LLC,
+1-407-585-1080, firstname.lastname@example.org, for Milestone Scientific, Inc.
Web site: http://www.milesci.com/