Sharps Technology, Inc. (NASDAQ: “STSS” and “STSSW”), a medical device and pharmaceutical packaging company, has signed agreements to sell its SecureGard syringe inventory. The agreements include initial shipments and revenue starting in early December, with new forecasted orders and commitments for all current SecureGard capacity beginning in Q2 2025. These agreements are expected to strengthen the potential revenue curve for the Hungary Operation starting in 2024.
The company 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. The customer has requested additional deliveries by year-end 2024 and committed to purchasing all available inventory by Q1 2025.
With increasing demand for its injection solutions, Sharps is collaborating with government and private investment sources in Hungary to expand its manufacturing footprint and increase both SecureGard and SoloGard capacity. The expansion plans include increasing annual SecureGard capacity to over 100 million units and SoloGard capacity to over 125 million units.
Sharps Technology focuses on providing low waste and ultra-low waste syringe technologies with active safety features to meet the healthcare industry’s demand for high-quality drug delivery solutions. For more information, visit http://sharpstechnology.com.
Investors are cautioned that forward-looking statements in this press release may not accurately predict future events, as the actual results may differ due to uncertainties, risks, and changing circumstances. The company does not guarantee future results and assumes no obligation to update any forward-looking statements. For investor relations, contact Dave Gentry at RedChip Companies, Inc. at 1-800-RED-CHIP (733-2447) or 407-644-4256 or email STSS@redchip.com.
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