Milestone Scientific president Arjan Haverhals says company seeing continued growth in dental sales during 4Q

Milestone Scientific president Arjan Haverhals says company seeing continued growth in dental sales during 4Q

Milestone Scientific Inc (NYSEAMERICAN:MLSS) president Arjan Haverhals said Monday that the developer of computerized drug delivery instruments continues to see growth in dental sales during the fourth quarter of 2020. “As previously reported, our dental business has continued to recover, as dental offices reopen across the country and around the world,” said Haverhals, who’s also CEO of Wand Dental Inc, in a statement.  “While we are not back to pre-pandemic levels, I am pleased to report our sales continue trending in the right direction and we anticipate revenue in the fourth quarter of 2020 to be a minimum of $1.7 million.”  READ: Milestone Scientific sees sequential dental sales increase nearly sevenfold as offices reopen across the country Haverhals said such a haul in revenue would represent a 40% sequential increase versus the 3Q, which follows a 718% increase for the 3Q compared to the 2Q of 2020. This does not include recent sales to the company’s Chinese distributor of about $450,000, which will be recorded as revenue when the inventory is resold by the distributor.  “We are encouraged by the current trends in both the USA and around the world, which has improved our cash flow and provides us greater financial stability along with the necessary funds for marketing and sales to continue the growth in the dental sector,” he said. “At the same time, we continue to execute on our commercial strategy around the CompuFlo Epidural System and CathCheck.” Haverhals said the Roseland, New Jersey-based company attributes the improvement in dental sales to its successful sales and marketing initiatives as a result of direct efforts.  Wand STA instrument He also said Milestone has terminated the exclusive rights granted to Henry Schein for distribution of The Wand STA instrument and disposables in the US and Canada.  “As per the agreement, Henry Schein Inc will remain a distributor, albeit on a non-exclusive basis,” Haverhals said. “As a result, we now look forward to implementing a strategy where we will have multiple distributors throughout the United States and Canada. We believe this will allow us to increase our market penetration, with a more significant return on our marketing dollars.” Haverhals added: “It is important to reiterate that The Wand STA instrument offers significant benefits in terms of establishing a safe environment for patients and staff during the pandemic, which has been reinforced based on the feedback we received from dentists. Our enhanced marketing efforts around The Wand STA instrument focus on the significant value drivers of our instrument, including safety, efficiency, and, importantly, supporting the growth of dental practices.” Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham

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