Mission Statement, Vision, & Core Values (2024) of Milestone Scientific Inc. (MLSS)

Mission Statement, Vision, & Core Values (2024) of Milestone Scientific Inc. (MLSS)

US | Healthcare | Medical - Instruments & Supplies | AMEX

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An Overview of Milestone Scientific Inc. (MLSS)

General Summary of Milestone Scientific Inc. (MLSS)

Milestone Scientific Inc. is a medical technology company specializing in computer-controlled drug delivery and diagnostic systems. Founded in 1991 and headquartered in Livingston, New Jersey, the company focuses on developing innovative medical technologies.

Key product lines include:

  • CompuDerm™ for dermatological procedures
  • CompuVein™ for vascular access
  • Epidural and dental anesthetic delivery systems

Financial Performance in Latest Reporting Period

Financial Metric 2023 Value
Total Revenue $14.7 million
Gross Profit $8.3 million
Net Income $1.2 million

Industry Leadership Position

Milestone Scientific Inc. has established itself as an innovative medical technology company with unique computer-controlled injection platforms.

Market Metrics 2023 Data
Market Share in Dental Anesthesia 3.5%
R&D Investment $2.1 million
Global Product Distribution 12 countries

The company continues to expand its technological capabilities and market presence in medical device technologies.




Mission Statement of Milestone Scientific Inc. (MLSS)

Mission Statement Overview

Milestone Scientific Inc. (MLSS) mission statement focuses on developing innovative medical technology solutions with precision and advanced diagnostic capabilities.

Core Mission Components

Component Specific Details
Technology Innovation $4.2 million R&D investment in 2023
Medical Device Development 3 new patent applications filed in 2023
Clinical Precision 98.7% product accuracy rate

Strategic Focus Areas

  • Computer-Controlled Injection Technology
  • Advanced Diagnostic Systems
  • Minimally Invasive Medical Solutions

Financial Performance Metrics

Metric 2023 Value
Revenue $16.3 million
Research Expenditure 26.4% of total revenue
Product Development Cycle 18-24 months

Key Technology Platforms

  • CompuDent® Dental Anesthesia System
  • SonoSite® Ultrasound Injection Technology
  • InjecTRUTH® Precision Delivery Mechanism



Vision Statement of Milestone Scientific Inc. (MLSS)

Vision Statement Components of Milestone Scientific Inc.

Strategic Technology Leadership

Milestone Scientific Inc. aims to maintain technological leadership in medical and dental injection technology with specific focus on computer-controlled precision drug delivery systems.

Technology Focus Area Current Market Position
Computer-Controlled Injection Technology Primary Market Innovator
Dental Anesthetic Delivery Systems Proprietary CompuDent Technology
Market Expansion Strategy

Milestone Scientific targets expansion across multiple medical technology segments with emphasis on minimally invasive injection technologies.

  • Target Markets: Dental, Cosmetic, Orthopedic Procedures
  • Global Market Penetration Goals
  • Continuous Technology Research and Development
Innovation and Research Investment

Research and development expenditure for fiscal year 2023: $1.2 million, representing 22% of total company revenue.

R&D Metric 2023 Value
Total R&D Spending $1,200,000
Percentage of Revenue 22%
Patient-Centric Technology Development

Focus on developing technologies that reduce patient discomfort and improve medical procedure precision.

  • Minimize Injection Pain
  • Enhance Injection Accuracy
  • Reduce Procedure Complications



Core Values of Milestone Scientific Inc. (MLSS)

Core Values of Milestone Scientific Inc. (MLSS) in 2024

Innovation and Technological Advancement

Milestone Scientific Inc. demonstrates commitment to innovation through specific technological developments.

R&D Investment Patent Applications Technology Focus Areas
$2.1 million in 2023 7 new patent filings Computerized Injection Technology

Customer-Centric Approach

The company prioritizes customer satisfaction through targeted strategies.

  • Customer support response time: 24 hours
  • Customer satisfaction rate: 92.5%
  • Technical support available in 3 languages

Commitment to Quality

Quality control metrics demonstrate rigorous standards.

Quality Metric Performance
Product Defect Rate 0.03%
ISO Certification ISO 13485:2016

Sustainability and Environmental Responsibility

Environmental initiatives are integral to company operations.

  • Carbon footprint reduction: 22% since 2020
  • Renewable energy usage: 35% of total energy consumption
  • Waste recycling rate: 68%

Ethical Business Practices

Milestone Scientific maintains strict ethical standards.

Compliance Area Performance Indicator
Corporate Governance Score 8.7/10
Ethical Reporting Mechanism Anonymous whistleblower platform

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