Milestone Scientific (MLSS) Maxim Group’s 2024 Healthcare Virtual Summit summary

Key business developments

• Secured Medicare reimbursement pricing for technology, enabling private practitioners to receive $325 per procedure in addition to the primary rate.

• Initiated commercialization through a partnership with Axial Biologics, leveraging their relationships in New Jersey, Florida, and Texas.

• Launched pilot programs in clinics, focusing on building a baseline of committed clinics with minimum annual purchase volumes to establish 2025 revenue.

• Expanded sales force with 27 additional representatives via Axial Biologics and added 1099 salespeople.

• Continued strong performance in the dental business, with $9M+ in sales and $2.2M net profit last year.

Market opportunity and strategy

• Targeting a $2B total addressable market in pain management, with 9M procedures annually, and focusing on Medicare patients in key states.

• Pricing strategy set to minimize upfront costs for clinicians, offering devices at $1,000 and consumables at $200–$250 per procedure.

• Building a recurring revenue model by requiring minimum annual purchase volumes from clinics.

• International expansion efforts ongoing, with Brazil identified as a key future market.

• Seeking partnerships with smaller, focused distributors to accelerate adoption and avoid competition for attention.

Technology and clinical impact

• CompuFlo system offers objective, computer-controlled needle placement, reducing training time for clinicians from two years to two procedures.

• Clinical studies show over 99.9% first-attempt success rate, compared to 17% false positives with traditional methods.

• Technology reduces risk of complications such as cerebrospinal fluid leakage, migraines, paralysis, and mortality, especially in thoracic and cervical procedures.

• Demonstrated $400–$504 average savings per patient stay and significant reduction in litigation risk.

• System improves efficiency, safety, and predictability in both labor/delivery and pain management settings.