Milestone Scientific Announces Sales And Marketing Alliance With Corestrength, Inc.
LIVINGSTON, N.J., Aug. 17 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. , which develops, manufactures, and markets "intelligent" computer controlled local anesthetic delivery systems, today announced that it has entered into a strategic sales and marketing relationship with Corestrength, Inc.
Under the terms of the agreement, Corestrength will provide and manage a team of Independent Sales Representatives that will cover the U.S. and Canada for Milestone. Corestrength will support Milestone's sales and marketing activities involving its new Single Tooth Anesthesia (STA) product, which is scheduled for market launch in the first quarter of 2007.
Corestrength will provide the training and sales support required of the dental distributor sales force. This will include co-traveling and Dental show support, which are essential elements to the STA product launch. The financial risk associated with this relationship is negligible to the Company.
Corestrength, Inc., headquartered in Melbourne, Florida, provides support services that are designed to build sales and brand awareness for dental product companies.
"We are pleased to announce this relationship with Corestrength, which is well known as a premier provider of sales and marketing support services in the dental industry," stated Leonard Osser, Chief Executive Officer of Milestone Scientific Inc. "Corestrength's close relationships with the distributor's sales force will be critical during the 'market launch' period. We believe our revolutionary Single Tooth Anesthesia device has the potential to greatly expand the market penetration of our dental product line. By utilizing our patented 'biofeedback' technology to enhance patient comfort and boost dental practice productivity, we believe that the value of our STA product will be a significant enhancement to dental practices throughout North America and abroad."
Milestone Scientific's STA device is designed to significantly improve the efficiency of a procedure that is highly valued among dentists -- the periodontal ligament injection. Currently, dentists typically assure effective anesthetic administration by using a mandibular block, which deadens a quarter of the face in addition to the single tooth being worked on. Unfortunately, dentists 'miss' the targeted area for the anesthesia about 30% of the time, requiring multiple injections and more patient time in the chair. In addition, "block" anesthesia inconveniences the patient in a number of ways, as the lip, tongue and cheek are made numb as an avoidable side effect of this technique. When a patient requires anesthesia for work on the opposite side of the mouth, dentists must currently schedule two separate appointments due to the impossibility of administering simultaneous mandibular blocks. The STA device will incorporate the "biofeedback" elements of our patented CompuFlo technology to produce targeted numbness to a single tooth without numbing the lip, tongue or cheek. The STA offers benefits and advantages that make it faster, easier and more predictable to administer dental anesthesia when compared with current techniques. While the periodontal ligament injection has been around for some time, there has been no effective technology that allows dentists to easily perform the procedure painlessly, safely and predictably until now. Milestone believes that a device which allows dentists to effectively anesthetize a single tooth, as the primary (only) injection, when combined with the painless injection capabilities already imbedded in the CompuDent system, should represent a compelling value that can significantly expand the Company's share of the dental device market.
As with the Company's CompuDent system, the STA device will generate recurring revenues from disposable handpieces.
About Milestone Scientific Inc.
Milestone Scientific Inc. is the developer, manufacturer and marketer of CompuMed(R) and CompuDent(R) computer controlled local anesthetic delivery systems. These systems comprise a microprocessor controlled drive unit as well as The Wand(R) handpiece, a single patient use product that is held in a pen-like manner for injections. The Company also sells the SafetyWand(R), which incorporates engineered sharps injury protection features to aid in the prevention of accidental needlesticks. Milestone has also developed proprietary consumer (Ionic White) and professional (CoolBlue) teeth whitening systems that were introduced to the market in early 2005.
Milestone has also received broad United States patent protection on CompuFlo(TM), an enabling technology for computer controlled, pressure sensitive infusion, perfusion, suffusion and aspiration that provides real time displays of pressures, fluid densities and flow rates. CompuFlo advances the delivery to and/or removal from patients of local anesthesia, medications and other fluids, and the Company is pursuing market opportunities in a variety of medical and dental applications. Elements of CompuFlo technology have been incorporated into the Company's new Single Tooth Anesthesia (STA) Computer Controlled Local Anesthesia Delivery Device. CompuFlo and the STA have been cleared for marketing and sale via the acceptance of 510(k) Premarket Notification filings by the FDA.
The Company is headquartered in Livingston, New Jersey, and its common stock trades on the American Stock Exchange under the symbol "MSS".
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, 2005. 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 Leonard Osser, CEO Milestone Scientific Inc. (973) 535-2717; (973) 535-2829 (Fax) Web site: www.milesci.comMilestone Scientific Inc.
CONTACT: Leonard Osser, CEO of Milestone Scientific Inc., +1-973-535-2717,or fax, +1-973-535-2829
Web site: http://www.milesci.com/