HOUSTON, Jan. 10, 2011 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (Nasdaq:SMED) ("Sharps" or the "Company"), a leading full-service provider of cost-effective management solutions for medical waste generated outside the hospital and large healthcare facility setting and unused dispensed medications, today announced that it has re-launched its TakeAway System™ envelope solution for unused medication disposal under a special mailing exception issued by USPS. The system is designed to provide a means for the efficient, cost-effective and proper disposal of unused dispensed medications as well as over-the-counter products for consumers and patients.
David P. Tusa, Chief Executive Officer and President, commented, "We worked closely with the USPS to implement protocols that met or exceeded regulatory requirements and set the standards for transportation of unused prescriptions in the mail. We applaud the USPS for their ongoing support of our program and appreciate their continued efforts to protect our citizens and environment from the adverse effects of improper management of unused medications, excluding controlled substances. Sharps is unique in its ability to meet the stringent control requirements established by the USPS and the first in the market to provide a complete, managed solution for the proper disposal through the mail of unused dispensed non-controlled medications as well as over-the-counter products for individuals."
About Sharps Compliance Corp.Headquartered in Houston, Texas, Sharps is a leading full-service provider of cost-effective management solutions for medical waste and unused dispensed medications generated outside the hospital and large healthcare facility setting. Its strategy is to capture a large part of the estimated $2 billion untapped market for unused medications, used syringes and medical waste generated outside of hospital and large healthcare settings by targeting the major agencies that are interrelated with this medical waste stream; that is the U.S. government, pharmaceutical manufacturers, home healthcare providers, retail pharmacies and clinics, and the professional market comprised of physicians, dentists and veterinary practices. As a fully integrated medical waste management company providing customer solutions and services, the Company's solid business model, which provides strong margins and significant operating leverage, combined with its early penetration into emerging markets, uniquely positions it for strong future growth.