Milestone Scientific Appoints Highly Accomplished MedTech Executive Shanth Thiyagalingam to Board of Directors

Rhea-AI Summary

Milestone Scientific (NYSE: MLSS) has appointed Shanth Thiyagalingam to its Board of Directors, effective May 14, 2025. Thiyagalingam, currently CEO of PainTEQ, brings over 20 years of global leadership experience in medical devices and pharmaceuticals. This strategic appointment supports Milestone's expansion of its CompuFlo® Epidural System, particularly following recent favorable Medicare Part B payment rates for CPT code 0777T and FSS contract award.

At PainTEQ, Thiyagalingam led the company's growth from startup to market innovator, securing a Category 1 CPT code for the LinQ procedure. His extensive experience includes leadership roles at Abbott, where he managed APAC Neuromodulation operations, Nevro, Stryker, and St. Jude Medical. He holds a Bachelor of Medical Science, Master's in Marketing Management, and MBA.

Positive

• Strategic addition of experienced MedTech executive with proven track record in commercial scaling and reimbursement strategy
• Appointment aligns with company's expansion plans for CompuFlo® Epidural System
• Recent favorable Medicare Part B payment rates and FSS contract award provide growth opportunities
• New director brings expertise in securing CPT codes and navigating complex payer environments

Negative

• None.

Brings Proven Commercial Leadership, Reimbursement Expertise, and Global Market Insight to Support Next Phase of Growth Across Medical and Dental Segments

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

Who is Shanth Thiyagalingam and why did MLSS appoint him to the Board?

Shanth Thiyagalingam is the current CEO of PainTEQ with over 20 years of experience in medical devices and pharmaceuticals. MLSS appointed him for his expertise in commercial scaling, reimbursement strategy, and successful track record in securing CPT codes.

What are the recent developments at Milestone Scientific (MLSS) regarding Medicare coverage?

MLSS recently received favorable Medicare Part B payment rates for CPT code 0777T and was awarded a Federal Supply Schedule (FSS) contract for their CompuFlo® Epidural System.

What is Milestone Scientific's (MLSS) main product focus?

MLSS focuses on computerized drug delivery instruments, particularly the CompuFlo® Epidural System, which provides painless and precise injections.

What is Shanth Thiyagalingam's background and experience before joining MLSS?

Thiyagalingam served as CEO of PainTEQ, held leadership roles at Abbott managing APAC Neuromodulation, worked at Nevro, Stryker, and St. Jude Medical, and holds degrees including an MBA and Bachelor of Medical Science.