UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

 

FORM 8-K 

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 27, 2020

 

Milestone Scientific Inc.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

Delaware
(State or other jurisdiction
of incorporation)

 

001-14053
(Commission
File Number)

 

13-3545623
(IRS Employer
Identification No.)

 

 

 

425 Eagle Rock Avenue 

Suite 403 
Roseland, New Jersey
(Address of principal executive offices)

 

07068
(Zip Code)

 

Registrant’s telephone number, including area code (973) 535-2717

 

(Former name or former address, if changed since last report.)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name on exchange on which registered

Common Stock

MLSS

NYSE American

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

 

 
 

 

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

On August 27, 2020, Brent Johnston resigned as President of Milestone Scientific Inc. (the “Company”), effective September 8, 2020.

 

On September 1, 2020, the Company announced the appointment of Jan Adriaan (Arjan) Haverhals as President of the Company, effective September 8, 2020. Mr. Haverhals, is currently the President and Chief Executive Officer of the Company’s wholly-owned subsidiary Wand Dental Inc. and will continue in that position.

 

Mr. Haverhals joined the Company in June 2020 and brings over 30 years of experience in sales, marketing, product development, and international expansion within the medical device, pharmaceutical, and other industries. Prior to joining the Company, Mr. Haverhals was senior vice president of sales at Xcentric Mold & Engineering, where he was instrumental in increasing sales productivity and efficiency for the company's prototype injection molding services, which included leading healthcare company clients. Previously, at Straumann, LLC, a global leader in manufacturing medical and dental devices, he held a series of senior sales and marketing roles including vice president of customer marketing & education, where he oversaw all product franchises and led the launch of more than 30 products in the North American market. He also served as senior vice president for the Nordic Region at Straumann AB, senior vice president of global sales digital solutions, which included oversight of the strategic acquisition of Etkon; and served as vice president of the Prosthetics Business Unit, where he introduced a new implant and prosthetics product line within a new market segment. He also served as vice president of global marketing & sales at Elkem AS, one of Norway's largest industrial companies. Previously, Mr. Haverhals served as executive vice president of marketing & sales at Cresco Ti Systems Sàrl, a global dental implant company, where he was responsible for turning around and managing global sales, marketing, international business. Mr. Haverhals holds an MS in Pharmacy from the University of Leyden in the Netherlands.

 

Item 8.01     Other Events

 

On September 1, 2020, the Company issued a press release announcing that the appointment of Mr. Haverhals as President. The press release is attached hereto as Exhibit 99.1.

 

 

Item 9.01     Financial Statements and Exhibits

 

(d)

Exhibits

 

 

The following exhibit is filed with this report:

 

99.1

Press Release, dated September 1, 2020 

 

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

Milestone Scientific Inc.
 

 

Dated: September 1, 2020 

By:  

/s/ Joseph D’Agostino 

 

 

 

Joseph D’Agostino 

 

 

 

Chief Financial Officer

 

 

 

  

 

 

Exhibit 99.1

 

Contact:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020

 

Milestone Scientific Promotes Arjan Haverhals
to President of Milestone Scientific

 

 

ROSELAND, NJ, September 1, 2020 – Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that it has promoted Jan Adriaan (Arjan) Haverhals to President of Milestone Scientific, replacing Brent Johnston. Mr. Haverhals will continue to serve as President and Chief Executive Officer of the Company’s Wand Dental, Inc. subsidiary.

 

Mr. Haverhals joined Milestone in June 2020 and brings over 30 years of experience in sales, marketing, product development, and international expansion within the medical device, pharmaceutical, and other industries. Mr. Haverhals has been responsible for the growth and profitability of both startups and global industry leaders, organically and through strategic acquisitions. Since Mr. Haverhals’ recent appointment as President and CEO of Wand Dental, he has enhanced the sales and marketing initiatives around the dental instrument and introduced new collaboration and distribution opportunities. Additionally, as President of Milestone, Mr. Haverhals will take a more active role in accelerating the commercialization of Milestone’s CompuFlo® Epidural Instrument and CathCheck™, both in the U.S. and in Europe, as well as oversee regulatory activities and product manufacturing.

 

Leonard Osser, Interim CEO of Milestone Scientific, stated, "I am very pleased to announce Arjan’s promotion to President of Milestone Scientific. In the short time since he joined the organization, he has demonstrated strong leadership, organizational skills and sales acumen. His contributions are already evident in the enhanced sales and marketing activities around the dental instrument. In terms of the CompuFlo® Epidural Instrument and CathCheck™, we look forward to his active involvement as we advance discussions with major hospitals and health systems across the U.S. We are also benefitting from his extensive relationships across Europe. We believe Arjan will play a central role in terms of accelerating the commercialization of CompuFlo® and CathCheck™, as we work towards our goal of establishing the instrument as standard of care around the world. Additionally, we would like to thank Brent Johnston, former President of Milestone, for his contributions to the Company and wish him well in his future endeavors.”

 

 
 

 

Prior to joining the Company, Mr. Haverhals was senior vice president of sales at Xcentric Mold & Engineering, where he was instrumental in increasing sales productivity and efficiency for the company's prototype injection molding services, which included leading healthcare company clients. Previously, at Straumann, LLC, a global leader in manufacturing medical and dental devices with over $1 billion in sales, he held a series of senior sales and marketing roles including vice president of customer marketing & education, where he oversaw all product franchises and led the launch of more than 30 products in the North American market, resulting in double-digit growth. He also served as senior vice president for the Nordic Region at Straumann AB, senior vice president of global sales digital solutions, which included oversight of the strategic acquisition of Etkon; and served as vice president of the Prosthetics Business Unit, where he introduced a new implant and prosthetics product line within a new market segment. He also served as vice president of global marketing & sales at Elkem AS, one of Norway's largest industrial companies. Previously, Mr. Haverhals served as executive vice president of marketing & sales at Cresco Ti Systems Sàrl, a global dental implant company, where he was responsible for turning around and managing global sales, marketing, international business, where he achieved over 100% return on investment for shareholders. Mr. Haverhals holds an MS in Pharmacy from the University of Leyden in the Netherlands.

 

About Milestone Scientific Inc.

Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone’s proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.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, 2019. 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.

 

 

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