| The Board of Directors of Milestone Medical Inc. (WAR: MMD, “the Company”, “the Issuer”) today announced that it has entered into an agreement with Bitmedical AG (“Bitmedical”) to distribute the CompuFlo® Epidural Instrument and CathCheck™ System, as well as related disposables in Switzerland and Austria. Bitmedical is a premier distributor of medical devices and equipment within Switzerland and Austria, supporting many of the leading global manufacturers in these markets. The Board of Directors of the Issuer announces that Bitmedical was impressed with Milestone’s CompuFlo® Epidural System following extensive due diligence and positive feedback from end users prior to entering this agreement. Bitmedical’s analysis found CompuFlo’s objective, quantifiable and real-time pressure detection provides a measure of safety not currently available in epidural anesthesia. In addition to the inclusion of this extraordinary precision instrument to its product portfolio, Bitmedical looks forward to working closely with the Issuer to introduce the CompuFlo and CathCheck System across Austria and Switzerland. The Board of Directors of the Issuer is pleased to enter into this distribution agreement with Bitmedical in such a short period of time since its first contact in November of 2020, which illustrates their confidence in the market potential for its instruments. The Board of Directors of the Issuer believes that Bitmedical is an ideal distribution partner as its principals have extensive expertise and proven track records launching new medical devices in Austria and Switzerland. The Board of Directors of the Company believes that he deep reach of Bitmedical into Austrian and Swiss hospitals, as well as their specific expertise in Intensive Care, Cardiac Surgery and Anesthesiology will further expand the Issuer’s European and international market presence. Besides his current role as CEO of Bitmedical, Hansruedi Muehlegg has a direct anesthesia background as a Clinical Registered Nurse Anesthetist, and thus is very familiar with the challenges associated with epidural procedures. The Board of Directors of the Issuer believes that Switzerland and Austria are important markets based on the growing number of epidural procedures in both childbirth and pain management. The Board of Directors of the Issuer is pleased to welcome Bitmedical as its exclusive distribution partner in the region. The Issuer and Bitmedical have a shared vision of applying advanced technological solutions to enhance the patient experience. The Board of Directors of the Company looks forward to working closely with Bitmedical in order to educate medical professionals in the region on the benefits of its system, which provides objective, quantifiable and real-time confirmation when accessing the epidural space. Penetrating the sizeable Austrian and Swiss markets is an important step forward in the commercial launch of the CompuFlo Epidural System in Europe. The Board of Directors of the Issuer looks forward to adding new distributors, hospitals and key opinion leaders across Europe and worldwide. The clinical and safety benefits of the CompuFlo Epidural and CathCheck Systems are backed by extensive published clinical data demonstrating significant reductions in epidural punctures, as well as complication rates, and contribute to a significant savings of time on the part of anesthesiologists. Moreover, the CompuFlo Epidural Instrument has the potential to significantly reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions. Similarly, the CathCheck technology has the potential to transform the monitoring of catheter placement following an epidural procedure by confirming the placement of a catheter within 2 minutes, versus 20-40 minutes using conventional methods. Bitmedical AG is a distribution company for leading international manufacturers in Switzerland and Austria for over ten years. They represent a number of companies in the field of ICU, Anesthesiology, Cardiac Surgery, Orthopedics, and Laboratories. The companies represented include Medtronic, Rivanna and Thermacor and Tahat. The company is active in Switzerland and Austria with own direct sales organization, technical support, warehousing, logistics and administration. The company works together with all University Hospitals in Austria and Swizerland and has offices in Kaiseraugst Switzerland and Vienna, Austria. | |
