Shares of Milestone Scientific Inc. (NYSE: MLSS) are experiencing significant growth, with a 6.73% increase to $0.75 in after-hours trading, due to the company’s strategic expansion into the European market. This is a notable development for MLSS and investors are taking notice, as evidenced by the stock’s upward movement.
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How MLSS has been expanding in Europe?
As a result of its recent distribution agreement with Sweden & Martina, a leading European dental distributor and manufacturer, Milestone Scientific (MLSS) has further expanded its presence in the European dental market. Milestone Scientific’s Single Tooth Anesthesia System (STA) will exclusively be marketed in Spain, Portugal and France by Sweden & Martina. The Company will also become its exclusive STA distributor in Italy through Sweden & Martina, becoming its exclusive distributor.
Using the STA system, painless anesthesia can be provided through precise, computerized and digitized dosing. In addition to providing painless injections, the STA system reduces anesthesia wait times, increases patient safety, and reduces procedure cancellations. As a result of the system, dentists will be able to grow their business and improve the patient experience at the same time.
MLSS and Sweden & Martina began their collaboration in the STA technology as a next step in the anesthetic method in dentistry and both companies consider this to be a successful collaboration. By appointing Sweden & Martina as its exclusive distributor in Italy, France, Spain, and Portugal, MLSS will be able to further penetrate these key European markets, which house over 180 million people in total. Additionally, MLSS works with institutions across Europe, as well as prestigious universities, to develop research and training programs aligned with Sweden and Martins.
Is the current move going to help MLSS grow?
Milestone Scientific (MLSS) recently acquired new distributors in Germany and Brazil, continuing its strategy to expand its reach within existing markets and enter new ones. In addition, Sweden & Martina’s willingness to partner with MLSS supports its growing penetration into the dental market, as well as their confidence in STA’s market potential.