Sharps Compliance Corp. (NASDAQ: SMED) (“Sharps” or the “Company”), a leading full-service provider of cost-effective solutions designed for the proper management of medical waste, used healthcare materials and unused patient medications, and the City of Chula Vista, California announced a new program today aimed at proper medication disposal for all 250,000 residents. This new program utilizes the Company’s TakeAway Environmental Return System TM envelope available for free to residents of Chula Vista, to remove unused non-controlled medications from resident’s homes and return them to Sharps for environmentally responsible treatment. This program is an additional effort by the City of Chula Vista, California that already manages a proper disposal program for used needles and syringes using the Company’s Sharps Recovery System TM to mail back sharps waste for city residents. Both programs are free to the 250,000 plus residents of Chula Vista, California and are easily accessible through participating retail pharmacies. The medication disposal program allows residents to receive five (5) TakeAway Environmental Return System envelopes a year while the sharps waste program allows residents three (3) Sharps Recovery Systems per year for proper syringe and needle disposal. Both programs offer environmentally responsible treatment which includes Sharps patented Waste Conversion Process that converts returned materials into a fuel used in the generation of power. “We firmly support and align ourselves with the City of Chula Vista as we are mutually concerned about the environmental dangers resulting from the improper disposal of unused medications and syringes. This program encourages their proper disposal, while concurrently assisting in the creation of energy,” commented David P. Tusa, President and CEO of Sharp’s Compliance. The TakeAway Environmental Return System also eliminates the need to use landfills or flushing, effectively keeping unused medications out of the ground, where they may end up leaching into the ground water system and finding their way to underground springs that feed our rivers and lakes.
Mr. Tusa concluded, “This is our second joint program with the City, the initial being our needle disposal program that we have previously implemented with Chula Vista for their residents. When taken together, the residents have a unique opportunity to actively participate in improving their environment and protecting their citizens. In addition to making our environment safer, these programs provide opportunities for the local pharmacist to potentially counsel their customers regarding their drug compliance and outcomes while ensure the proper disposal of their needles and unused medications. I am very pleased they have, once again, placed confidence in our ability to provide this value-added service.”About The City of Chula Vista The City of Chula Vista is located at the center of one of the richest cultural, economic and environmentally diverse zones in the United States. It is the second-largest City in San Diego County, with a population of nearly 250,000. Chula Vista boasts more than 50 square miles of coastal landscape, canyons, rolling hills, mountains, and a variety of natural resources and quality infrastructure. Established neighborhoods, contemporary communities, start-up firms, corporations, nationally recognized entertainment venues, the nation’s only warm-weather Olympic Training Center, an award winning nature center and a historic downtown all contribute to Chula Vista’s attraction for both families and businesses. About Sharps Compliance Corp. Headquartered in Houston, Texas, Sharps Compliance is a leading full-service provider of solutions for the cost-effective management of medical waste, used healthcare materials and unused dispensed medications. Its strategy is to capture a large part of the estimated $3.8 billion untapped market for its solutions by targeting the major agencies that are interrelated with this medical waste stream, including pharmaceutical manufacturers, home healthcare providers, retail pharmacies and clinics, the U.S. government and the professional market which is 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. The Company’s flagship product, the Sharps® Recovery System™ is a comprehensive solution for the containment, transportation, treatment and tracking of medical waste and used healthcare materials. The Company’s TakeAway Environmental Return System™ is designed for individual consumers, retail or mail-order pharmacies, communities and facilities, including assisted living, long-term care and correction operations, to facilitate the proper disposal of unused dispensed medications. The Complete Needle Collection & Disposal System™ is a safe, easy-to-use and cost-effective solution designed for self-injecting consumers and includes the Company’s containment, packaging, return shipping via the U.S. Postal Service, tracking and treatment.
The Company has partnered with Daniels Sharpsmart in a joint marketing alliance to serve the entire U.S. medical waste market, offering customers a blended product portfolio to effectively target healthcare customers with multi-site and multi-size locations. The alliance also enables a team effort for cross selling each company’s capabilities where best suited.More information on the Company and its products can be found on its website at: www.sharpsinc.com. Safe Harbor Statement The information made available in this press release contains certain forward-looking statements which reflect Sharps Compliance Corp.’s current view of future events and financial performance. Wherever used, the words “estimate”, “expect”, “plan”, “anticipate”, “believe”, “may” and similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties and the company’s future results of operations could differ materially from historical results or current expectations. Some of these risks include, without limitation, the company’s ability to educate its customers, development of public awareness programs to educate the identified consumer, customer preferences, the Company’s ability to scale the business and manage its growth, the degree of success the Company has at gaining more large customer contracts, managing regulatory compliance and/or other factors that may be described in the company’s annual report on Form 10-K, quarterly reports on Form 10-Q and/or other filings with the Securities and Exchange Commission. Future economic and industry trends that could potentially impact revenues and profitability are difficult to predict. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results express or implied therein will not be realized.