Sharps Compliance Announces It Has Properly Processed and Treated More Than 2.7 Million Pounds of Unused Ultimate-User Medica...
October 15 2018 - 8:30AM
Sharps Compliance, Inc. (Nasdaq: SMED), a nationwide provider of
management services for medical waste and unused medication,
announces that it has properly processed and treated more
than 2.7 million pounds of unused ultimate-user medications since
2009. This milestone, achieved primarily through the use of its
MedSafe® and TakeAway Medication Recovery System™ Envelopes
designed for the safe, convenient, and proper disposal of opioid
painkillers and other unused medications, coincides with the Drug
Enforcement Administration’s 16th “National Prescription Drug Take
Back Day” on October 27, 2018. Sharps Compliance is committed to
helping communities and citizens dispose of unused medications to
combat the growing epidemic of prescription drug abuse and
accidental poisonings throughout the year and has been a longtime
supporter of the DEA drug take back event which occurs annually in
April and October.
“We believe that safe, convenient, and proper disposal of
prescription medication, including controlled substances, is a
vital component in the national effort to combat prescription drug
abuse, in conjunction with education, research, and treatment,”
said David P. Tusa, President and Chief Executive Officer of Sharps
Compliance, Inc. “As market recognition and use of our MedSafe and
TakeAway Medication Recovery System Envelopes has increased, the
collection, processing, and treatment of unused medications
represents a growing portion of our business. We are proud to see
our solutions play an active role assisting healthcare providers
and facilities as well as local communities and state governments
in their efforts to confront the opioid crisis head on.”
Sharps Compliance has deployed approximately 3,000 MedSafe
collection receptacles into retail and hospital pharmacies, and to
long-term care, drug treatment, and licensed law enforcement
facilities since the release of the updated DEA disposal
regulations in 2014. Customers have returned over 20,000 inner
liners with nearly 900,000 pounds of unused medications. Sharps has
sold more than 3.4 million TakeAway Medication Recovery Envelopes
since 2009.
MedSafe is an ultimate-user unused medication collection and
disposal system. This easy-to-operate system accepts controlled
(Schedules II-V), non-controlled, and over-the-counter medicines.
The patent-pending MedSafe medication disposal program operates
under, and is in compliance with, the October 2014 DEA rules and
regulations.
The TakeAway Envelopes are available at participating
pharmacies. Customers can simply purchase a USPS postage-paid
TakeAway Envelope, place their unused medications in the envelope,
and drop it in any mailbox. The TakeAway Envelope is specially
designed for the proper disposal, transportation, and treatment of
all drugs, including controlled substances. Local and federal
governments, as well as the private sector, have stepped up to
provide the envelopes to communities and citizens to help with
medication disposal.
According to the Centers for Disease Control and Prevention,
“Overdose deaths involving prescription opioids were five times
higher in 2016 than in 1999.” Altarum estimated that the opioid
crisis has cost the country more than “$1 trillion from 2001 to
2017 and is projected to cost an additional $500 billion by
2020.”
Sharps Compliance partners with public and private entities to
address the growing problem of opioid abuse, working closely with
federal agencies, such as the Department of Veterans Affairs and
the Department of Defense as well as state governments, like
Montana and North Dakota. Sharps also works with private
businesses, such as independent and chain pharmacies, long-term
care facilities, hospitals and healthcare systems, and narcotic
treatment facilities. Sharps Compliance applauds the efforts of
these organizations stepping up to help their communities.
About Sharps Compliance, Inc. 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 providers, assisted living/long-term care
facilities, retail pharmacies and clinics, and the professional
market which is comprised of physicians, surgery centers, dentists,
and veterinary practices. Sharps also provides two simple solutions
for safe and easy disposal of unused medications: MedSafe
collection receptacles and TakeAway Medication Recovery System
Envelopes.
More information on Sharps Compliance and its products can be
found on its website at www.sharpsinc.com.
For more information contact:
Diana P. DiazSharps Compliance Corp.Vice President and Chief
Financial OfficerPhone: (713) 660-3547Email:
ddiaz@sharpsinc.com John Nesbett/Jennifer
BelodeauInstitutional Marketing Services (IMS)Phone: (203)
972-9200Email: jnesbett@institutionalms.com
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0435d5f5-e793-42bd-a635-06962a4186f5http://www.globenewswire.com/NewsRoom/AttachmentNg/35ac96da-f02d-4b7d-a6e9-5fe915f866e1
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