Sharps Compliance Receives Permit for Northeastern U.S. Treatment Facility
August 04 2016 - 8:30AM
Sharps Compliance Corp. (NASDAQ:SMED) (“Sharps” or the
“Company”), a leading full-service national provider of
comprehensive waste management solutions including medical,
pharmaceutical and hazardous, today announced that it has received
the Commonwealth of Pennsylvania Department of Environmental
Protection Bureau of Waste Management permit for the processing of
medical waste at its treatment facility located in northeastern
Pennsylvania. The 40,000 square foot facility has been permitted as
both a medical waste treatment facility, utilizing an autoclave,
and as a transfer station for medical, pharmaceutical and trace
chemotherapy waste of up to 82 tons per day. The facility is
designed to cost-effectively and efficiently process medical waste
generated by the Company’s route-based and mailback customers and
also doubles as a distribution center of mailback solutions.
David P. Tusa, President and Chief Executive Officer of Sharps,
commented, “Our Pennsylvania facility is a very strategic addition
to our current operation’s infrastructure, uniquely positioning us
to service our customers and expand our business in the
highly-populated Northeast. The facility will support our
core market of small-to-medium quantity medical waste generators,
treating waste collected from both our route-based, pick-up
business as well as from our mailback solution offerings. Together
with our Texas-based facility, the Company now has over 180 tons
per day of permitted treatment infrastructure.
“Over the past year we have significantly enhanced our service
offerings to the healthcare related industry while expanding our
geographic reach through several strategic acquisitions. With the
establishment of our Northeast medical waste treatment facility, we
believe Sharps has strengthened its market position in the
route-based business to service an area which encompasses about 100
million people or 31% of the U.S. population,” Mr. Tusa
concluded.
About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps Compliance is a leading
full-service national provider of comprehensive waste management
services including medical, pharmaceutical and hazardous. Its key
markets include healthcare facilities, pharmaceutical
manufacturers, home healthcare providers, assisted living /
long-term care, retail pharmacies and clinics, and the professional
market which is comprised of physicians, dentists and veterinary
practices. The Company's flagship product, the Sharps Recovery
System, is a comprehensive solution for the containment,
transportation, treatment and tracking of medical waste and other
used healthcare materials. The Company also offers its route-based
pick-up service in an eleven (11) state region of the Northeast
portion of the United States as well as Texas and Louisiana.
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 news 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 revenue 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.
For more information contact:
Diana P. Diaz
Sharps Compliance Corp.
Vice President and Chief Financial Officer
Phone: (713) 660-3547
Email: ddiaz@sharpsinc.com
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Phone: (203) 972-9200
Email: jnesbett@institutionalms.com
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