Milestone Scientific a developer of painless and precise computerised drug delivery instruments, has announced the appointment of Leslie Bernhard, the Company's current Chairman of the Board, as interim CEO.
The appointment follows the resignation of Daniel Goldberger as President and CEO effective 2 October 2017.
A formal search has commenced for a new CEO to focus on the medical opportunity. At the same time, the Board of Directors is also evaluating a variety of strategic options in the medical field in light of the company's recent 510(k) clearance from the US FDA for the CompuFlo Epidural System.
Leslie Bernhard said: "Following our recent 510(k) clearance from the US FDA, we have received extremely positive industry feedback regarding our CompuFlo Epidural System. Both the board and senior management are laser focused on building a cost effective global distribution network, which may include strategic partnerships, distribution agreements and/or licensing opportunities.
"Based on the outcome of these discussions, we will direct resources towards those opportunities that we believe provide the greatest value and return on capital for shareholders. I am fully confident in the ability of the current senior management team to execute on our near term goals, and longer term strategic vision to establish CompuFlo as the standard-of-care in painless and precise drug delivery across the US, Europe and around the world."
Leonard Osser, Board Member, Founder and Director of China Operations, said: "As Chairman of the company, Leslie has overseen the strategic direction of the company. She brings an impressive background and vision that is closely aligned with the objectives of the board. I am 100% confident in both her leadership abilities, as well as the near and long-term outlook for the business. This is a very exciting time for Milestone and we look forward to providing additional details on our ongoing strategic initiatives in the coming months."
Bernhard has been serving as Milestone Scientific's non-executive Chairman of the Board since October 2009 and as a Director of Milestone Scientific since May 2003.
Since 2007, Bernhard has also been serving as an independent director of Universal Power Group, a global supplier of power solutions and since February of 2017, she has served as an independent director of Sachem Capital, a real estate investment trust.
In 1986 she co-founded AdStar, an electronic ad intake service to the newspaper industry and served as its President, CEO and executive Director until 2012.
Bernhard holds a BSc in Education from St. John's University.