Healthcare
Medical
Equipment & Supply
AMEX: MS
Milestone Scientific Inc.
220 South Orange Avenue
Livingston, NJ 07039
Leonard Osser
Chairman and
Chief Executive Officer
Interview conducted by:
Walter Banks, Co-Publisher
CEOCFOinterviews,com
September 2001
BIO OF CEO
Leonard A. Osser has been Chief
Executive Officer and a director of the Company since July 1991, and the President and
Chief Executive Officer of Spintech, a subsidiary of the Company, since November, 1995.
From July 1991 until July 1997, he also served as President and Chief Financial Officer of
the Company. From 1980 until the consummation of the Company's public offering in November
1995, he had been primarily engaged as the principal owner and Chief Executive of U.S.
Asian Consulting Group, Inc., a New Jersey based provider of consulting services in
"work-out" and "turnaround" situations for publicly and privately
owned companies in financial difficulty.
About
Milestone Scientific Inc.
Milestone Scientific is the
developer, manufacturer and marketer of The WandÒ computer
controlled local anesthetic delivery system. The
Wand system comprises a computer controlled drive unit and features The Wand hand piece, a
single patient use product that is held in a pen like manner for injections. This
proprietary technology forms the basis of their value proposition, which enables
practitioners to consistently administer injections with improved control, greater
comfort, reduced trauma and less stress for both the patient and practitioner.
The Wand system was introduced to the dental market for a wide variety of
procedures, including the Periodontal Ligament Injection (PDL). The Wand Plus, an enhanced version of The Wand,
recently received FDA clearance to market for medical uses.
Milestone Scientific has recently received a broad US patent on CompuFloÔ, an enabling
technology for computer controlled infusion of a wide array of liquid drugs and other
fluids, aspiration of bodily fluids and measurement of in-tissue pressure.
CEOCFOinterviews: Mr.
Osser, can you give us a brief history of Milestone Scientific?
Mr. Osser: Milestone Scientific is an
ten-year-old company whose mission was to become a virtual company. It was to acquire
breakthrough technology in the medical field, a either disposable or have a disposable
component, get broad patents on that technology worldwide, commercialize the technology,
outsource engineering and manufacturing. A marketing plan would be developed to support
global product introductions and then acquire outside distribution for the product. Our
history has been in the take over of a company that had a breakthrough technology. We
acquired a technology that is the first enhancement in our sector in 150 years.
Revolutionarily changing the hypodermic needle syringe through a computerized system,
that’s ergonomically sound, virtually painless to the patient, much less stressful
for the practitioner, much enhanced infection control, and does not kill tissue
(necrosis)., It is a revolutionary device, which will go into many fields over the coming
years and as of August of this year (2001), will be introduced into the medical field.
Milestone Scientific acquired the product in 1995, and introduced it into the dental field in
the United States in early 1998.
CEOCFOinterviews: Currently, where are you in the
development, redevelopment or redefining of your product?
To
receive a complete copy of this interview call: 570-839-0236
