Milestone Scientific Announces Distribution Agreement with Leading European Dental Distributor & Manufacturer Sweden & Martina
ROSELAND, N.J., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provides painless and precise injections, today announced it has entered into a distribution agreement with Sweden & Martina, a leading European dental distributor and manufacturer. Under the agreement, Sweden & Martina has been awarded the exclusive rights to market Milestone's STA Single Tooth Anesthesia System® (STA) in the new markets of Spain, Portugal and France. In addition, Sweden & Martina will replace the Company's current distributor in Italy and become its exclusive STA distributor in this market.
Founded in 1972, Sweden & Martina is a multinational company, headquartered in Italy, with branches in Spain, Portugal, USA and the UK, as well as direct sales organizations in France and Poland. The company also operates through a network of 30 distributors worldwide and markets products to over 40 countries across Europe.
Head of Global Business Development, Mr. Leonardo Lago of Sweden & Martina, stated, "We are excited to start our collaboration with Milestone Scientific, and we strongly believe in the STA technology as an evolution of the anesthetic method in dentistry. We are sure it will be a successful partnership for both companies."
Arjan Haverhals, Chief Executive Officer of Milestone Scientific, noted, "We are excited to announce the appointment of Sweden & Martina as our exclusive distributor in Italy, France, Spain, and Portugal. We believe that Sweden & Martina is an ideal partner given their deep penetration within these key European markets, which represent a combined population in excess of 180 million people. Moreover, our mission and approach are closely aligned given their commitment to research and training, as well as established relationships with prestigious universities and key opinion leaders across Europe."
"This agreement builds upon our recent addition of new distributors in both Germany and Brazil, continuing our strategy to enter new markets and expand our penetration within existing markets. Importantly, Sweden & Martina's willingness to partner with Milestone reflects the traction we are gaining within the dental market, as well their confidence in the market potential for the STA Single Tooth Anesthesia System®," concluded Mr. Haverhals.
The STA system enables painless anesthesia through precise, digitized and computer-controlled dosing. The STA system offers significant benefits to both patients and clinicians through painless injections, shorter wait times for anesthesia, fewer complications, and reduced patient cancellations. The system enables dentists to grow their business while improving the overall patient experience.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific's computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals 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, future business decisions and regulatory developments, 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 for the year ended December 31, 2021. 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.
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