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KOMISJA NADZORU FINANSOWEGO |
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Raport bieżący nr |
16 |
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2020 |
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Data sporządzenia: |
2020-05-18 |
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Skrócona nazwa emitenta |
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MILESTONE MEDICAL |
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Temat |
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The Update on the Commercial Rollout of CompuFlo® CathCheck™ System in the First Quarter
of 2020
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Podstawa prawna |
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Art. 17 ust. 1 MAR - informacje poufne.
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Treść raportu: |
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The Board of Directors of Milestone Medical Inc. _WAR: MMD, “the Company", “the Issuer"_
today provided an update on the commercial rollout of CompuFlo® CathCheck™ System
in the first quarter ended March 31, 2020.
The Board of Directors of the Company continues to witness a growing interest in the
CompuFlo® CathCheck™ System, which is now in a pilot at a leading medical institution
in the United States. Had it not been for COVID-19 and the fact that hospitals are
on complete lockdown, the The Board of Directors of the Company believes that the
Issuer would have already announced several important commercial agreements. Nevertheless,
once the current pandemic begins to subside, The Board of Directors of the Company
believes that the Issuer will be well positioned coming out of the gate.
In the meantime, the Issuer has made technical improvements to its products, which
the Board of Directors of the Company believes will support the commercial efforts
going forward. In fact, a major university hospital familiar with CompuFlo was attracted
to new CathCheck technology, given its ability to minimize contact between the patient
and provider, which is especially important during the COVID-19 pandemic. Last week,
the Company announced an important study, which was published in the Open Journal
of Anesthesiology. This study validated the efficacy of the CompuFlo® CathCheck™
System to confirm the correct placement and positioning of an epidural catheter for
use during and after an epidural procedure and ensure that the catheter has not been
dislodged. The CathCheck™ technology makes CompuFlo® the only known instrument that
can identify the presence of a pressure waveform signal and confirm proper placement
of an epidural catheter within seconds, versus 20–40 minutes using the conventional
subjective method. As a result, CathCheck™ is expected to significantly reduce both
time and cost for a medical institution. The Company recently announced the new Quick
Start feature, which simplifies and reduces procedure preparation time for the CompuFlo®
instrument prior to an epidural procedure—an important enhancement to the technology
driven by physician feedback.
The Issuer also announced the completion of the first major economic study of CompuFlo®
use within labor and delivery, which validated the cost savings of the system versus
the traditional resistance technique. In comparison, the real-time pressure sensing
technology costs an average of $504 less per hospital stay. For illustration purposes,
an institution that conducts 12,000 procedures per year would be expected to save
over $6 million annually by switching to the instrument. Given this data, the Board
of Directors of the Issuer believes that the CompuFlo Epidural System is now validated
in terms of efficacy and cost effectiveness. As a result, The Board of Directors
of the Company believes that the CompuFlo Epidural System has the potential to transform
the industry and our goal is to become the new standard of care. Importantly, the
Company completed a $4.7 million financing that gives us additional cash runway as
the Issuer continues the commercial rollout of the CompuFlo® Epidural System and the
CathCheck System.
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RB_ASO: The Update on the Commercial Rollout of CompuFlo® CathCheck™ System in the First Quarter
of 2020
