Milestone Scientific Inc (NYSEAMERICAN:MLSS) announced Tuesday that it has been awarded a group purchasing agreement for its CompuFlo Epidural System and CathCheck with healthcare company Premier.
The new agreement allows Premier members to take advantage of special pricing and pre-negotiated terms pre-negotiated for CompuFlo and CathCheck, the company said, effective November 1.
Premier has a network of roughly 4,100 US hospitals and 200,000 other providers. The firm prides itself on its integrated data and analytics, collaboratives, supply chain solutions, advisory and other services, which it believes can transform health care.
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The CompuFlo Epidural System is backed by extensive published clinical data demonstrating significant reductions in epidural punctures and complication rates, the company said. Additionally, the instrument has been shown to significantly reduce the total cost per hospital stay, providing a direct economic benefit to healthcare institutions.
CathCheck has the potential to transform the administration of epidural procedures and subsequent monitoring of catheter placement following an epidural procedure, Milestone said by confirming the placement of a catheter within 2 minutes, compared to 20-40 minutes with conventional methods.
This is especially important during the coronavirus pandemic, the company added, in order to minimize contact between the patient and provider.
“I would like to personally commend Premier for their leadership in adopting new technologies that provide direct and measurable benefits to both physicians and patients,” Milestone CEO Leonard Osser said in a statement. “I would also like to thank the team at Milestone for their hard work in consummating this landmark agreement, which we believe will significantly advance our plans for commercialization of the CompuFlo Epidural System and CathCheck technology in the United States.”
The company’s subsidiary Ward Dental Inc will also make its technology available to Premier network members.
“We are honored to have been selected by Premier, a leading group purchasing organization, to offer our instruments throughout their network,” Ward Dental CEO Arjan Haverhals said. “This agreement provides us enhanced access to Premier’s members and should help accelerate our mission to become the standard of care. We believe this agreement is further validation of the growing awareness and importance of our instruments in improving health outcomes and lowering costs for healthcare institutions.”
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