Milestone Scientific Appoints Highly Accomplished MedTech Executive Shanth Thiyagalingam to Board of Directors
MWN-AI** Summary
Milestone Scientific Inc. (NYSE: MLSS), known for its innovative computerized drug delivery systems, has announced the appointment of Shanth Thiyagalingam, a veteran MedTech executive, to its Board of Directors. His appointment, effective May 14, 2025, is expected to bolster the company’s initiatives, particularly the expansion of its CompuFlo® Epidural System. Thiyagalingam's extensive experience spans over 20 years in the medical device and pharmaceutical sectors, focusing on commercial scaling, product innovation, and strategic execution.
Neal Goldman, Milestone's Chairman and Interim CEO, expressed optimism about the addition of Thiyagalingam, highlighting his proven track record in driving growth for medical device companies, particularly in reimbursement strategy and securing approvals for CPT codes. Thiyagalingam’s expertise will be crucial as Milestone aims to increase its federal presence and improve commercial execution across its medical and dental verticals.
Prior to joining Milestone, Thiyagalingam served as CEO of PainTEQ, where he transformed the company from a startup to a key player in interventional pain therapy. His leadership saw PainTEQ recognized in the INC 5000 list and awarded "Best Place to Work" by the Tampa Bay Business Journal. His career also includes significant roles at Abbott and Nevro, where he was instrumental in launching successful medical programs and significantly increasing revenue.
Thiyagalingam holds a Bachelor of Medical Science from the University of Sydney, and both a Master’s in Marketing Management and an MBA from Macquarie Graduate School of Management. His appointment is expected to enhance Milestone Scientific's capability to innovate and drive commercial success in the burgeoning medical technology space.
MWN-AI** Analysis
Milestone Scientific Inc. (NYSE: MLSS) has made a strategic move by appointing Shanth Thiyagalingam, a seasoned MedTech executive, to its Board of Directors. Thiyagalingam's wealth of experience in scaling commercial ventures and navigating complex healthcare environments bodes well for Milestone’s ongoing initiatives, particularly with the adoption of its innovative CompuFlo® Epidural System and leveraging favorable Medicare payment rates.
Investors should view this appointment as a positive signal regarding Milestone's strategic direction. Thiyagalingam’s previous experience at PainTEQ—where he successfully transformed the company into a high-growth entity—might translate into similar success for Milestone as they seek to broaden their market share and enhance product visibility across medical and dental sectors. His background in securing reimbursement strategies and enabling product adoption in various regions is particularly pertinent as Milestone aims to capitalize on recent advancements such as its Federal Supply Schedule contract award.
Moreover, the approval of CPT code 0777T for the CompuFlo® Epidural System presents opportunities for increased revenue streams as it allows for better reimbursement pathways. This will likely enhance the sales prospects for the device and contribute to an uptick in company earnings, an essential factor investors will scrutinize.
Nonetheless, market participants should remain cautious and consider the inherent risks outlined in the company’s statement, especially around competitive pressures and regulatory hurdles. As the overall MedTech sector adapts to evolving technological advancements and reimbursement models, Milestone’s ability to execute on its growth plan will be critical.
In summary, while the appointment of Thiyagalingam is a strong indicator of future growth potential, investors should keep an eye on execution risks and market dynamics while considering their position in Milestone Scientific.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
ROSELAND, N.J., May 19, 2025 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS) , a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that Shanth Thiyagalingam, BMedSc, MMKTG, MBA, has joined its Board of Directors, effective May 14, 2025. Mr. Thiyagalingam brings more than 20 years of global leadership in commercial scaling, product innovation, and strategic execution across the medical device and pharmaceutical industries.
Newly appointed board member Shanth Thiyagalingam
This appointment further supports Milestone Scientific’s strategy to drive adoption of its CompuFlo® Epidural System, broaden access under recently assigned favorable Medicare Part B payment rates for CPT code 0777T, and advance commercial initiatives enabled by its Federal Supply Schedule (FSS) contract award.
Neal Goldman, Chairman and Interim CEO of Milestone Scientific, commented:
“We are pleased to welcome Shanth to our Board. His leadership in building and scaling high-growth medical device companies—especially in reimbursement strategy, securing CPT code approval, and commercial execution—makes him an ideal fit as we advance our expansion strategy. His ability to lead cross-functional teams, navigate complex payer environments, and bring novel therapies to market will be invaluable as we pursue broader regional alignment within JMACs, expand our federal presence, and accelerate commercial execution across both our medical and dental verticals.”
Mr. Thiyagalingam currently serves as Chief Executive Officer of PainTEQ, a manufacturer of proprietary medical equipment focused on interventional pain therapy. From 2020 through 2025, he held successive leadership roles at the company—from Chief Commercial Officer to Chief Operating Officer, and ultimately as CEO. During his tenure, he led the company’s transformation from early-stage startup to hyper-growth innovator in the interventional pain space. He also led M&A initiatives and was instrumental in securing a Category 1 CPT code for the LinQ procedure—a new therapy in the interventional pain market. Under his leadership, PainTEQ was recognized three years in a row by the INC 5000 and named a “Best Place to Work” by the Tampa Bay Business Journal.
Previously, he served as General Manager of APAC Neuromodulation at Abbott, overseeing commercial strategy and operations across Australia, New Zealand, Japan, and the broader Asia-Pacific region. He launched the APAC Neuromodulation Program, led regional expansion into China, Taiwan, and India, and introduced the Japan Proclaim system. Before that, as Regional Director at Nevro, he doubled division revenue and contributed to the successful U.S. launch of the HF10 therapy.
Earlier in his career, Mr. Thiyagalingam held senior roles at Stryker, where he led strategic growth of the trauma division across Australia and integrated key acquisitions, and at St. Jude Medical, where he managed cardiac and electrophysiology portfolios, delivering multiple product launches across EMEA and Asia Pacific. He began his career at Bristol Myers Squibb and Boehringer Ingelheim, earning national recognition for sales excellence in virology and primary care.
He holds a Bachelor of Medical Science from the University of Sydney, a Master’s in Marketing Management, and an MBA from Macquarie Graduate School of Management (MGSM). He is also a certified Gallup Strengths Coach and is passionate about fostering high-performance cultures and mentoring emerging leaders in the medtech industry.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a technology-focused medical research and development company that patents, designs, and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient, and increase the overall patient comfort and safety. The Company leverages its proprietary DPS Dynamic Pressure Sensing Technology ® platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetics. To learn more, view the MLSS brand video or visit milestonescientific.com .
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2024. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact:
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b0ce74d-bc8c-4730-91b7-69d0046b7e01
FAQ**
How does the appointment of Shanth Thiyagalingam to the Board of Directors of Milestone Scientific Inc. (MLSS) align with their strategy for expanding the CompuFlo® Epidural System?
What specific initiatives will Shanth Thiyagalingam implement to capitalize on recent favorable Medicare Part B payment rates for Milestone Scientific Inc. (MLSS)?
How is Milestone Scientific Inc. (MLSS) planning to leverage Thiyagalingam's experience in M&A to fuel its growth strategies in both medical and dental verticals?
What steps will Milestone Scientific Inc. (MLSS) take to navigate complex payer environments with Thiyagalingam's leadership on board, and how might this influence future revenue growth?
**MWN-AI FAQ is based on asking OpenAI questions about Milestone Scientific Inc. (NYSE: MLSS).
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