Full Press Release Details
Technology Signs Sales Agreements to Support Major European Healthcare Network and Sells Out Its Inventory for SecureGard
YORK, DECEMBER 5, 2024 - Sharps Technology, Inc., (NASDAQ: "STSS" and "STSSW"), an innovative medical
device and pharmaceutical packaging company offering patented, best-in-class syringe products, has begun deliveries of its 1mL and 3mL
SecureGard safety syringes under new sales agreements with a prominent European medical supply company serving Poland, Slovakia,
and the Czech Republic. To meet demand in the region, Sharps' customer has requested additional deliveries by year-end 2024 and
committed to purchasing all available plant inventory by Q1 2025.
a supplier to the largest network of hospitals and outpatient clinics in Central and Eastern Europe, the customer plans to purchase Sharps'
entire existing inventory of 1mL and 3mL SegureGard inventory warehoused in Hungary. This would be followed by new production orders
starting in Q2 2025. These orders will consume all currently available SecureGard production capacity of 35 million units at the Hungary
manufacturing facility. The customer has also expressed interest in Sharps' U.S. inventory to fulfill a need for safety syringe
supplies in Northern Africa.
demand for Sharps' innovative injection solutions continues to grow rapidly, with injectables remaining the preferred delivery
method for therapies such as vaccines, biologics, weight loss and maintenance, ophthalmic and cosmetic applications, gene therapies,
and diabetes and inflammatory disease management. With increasing levels of interest and potential demand for the Company's high-quality
smart safety syringe products in the region, Sharps is collaborating with both government and private investment sources in Hungary to
expand the current manufacturing footprint and take advantage of the need to increase both SecureGard and SoloGard manufacturing capacity.
The expansion will be planned to increase the annual SecureGard capacity to more than 100 million units, and the SoloGard capacity to
more than 125 million units.
SecureGard and SoloGard product lines focus on low waste and ultra-low waste syringe technologies that also incorporate
active safety features to fill the healthcare industry's demand for the highest quality drug delivery solutions.
Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe
products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities, that incorporate
syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized
copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary. For more
information, please visit http://sharpstechnology.com
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