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 dispensed medications, announced today that it has been selected by the Nebraska MEDS Coalition to launch a pilot program for the proper disposal of unused, non-controlled, medications from residents in Lincoln and Lancaster County, Nebraska.
The Nebraska MEDS Coalition was formed in response to ongoing and growing concerns about the improper handling of pharmaceutical waste. Members of the coalition include the Lincoln-Lancaster County Health Department, the Nebraska Pharmacists Association, the Nebraska Regional Poison Center, the Groundwater Foundation, and Guardian Angels Homecare. Other key project advisors and involved stakeholders include: the Nebraska Department of Environmental Quality, the Nebraska Department of Health and Human Services, the Drug Enforcement Administration – St. Louis Office, the Lincoln Police Department, the Lancaster County Sheriff’s Office and the Nebraska Attorney Generals’ Office. The mission of the Nebraska MEDS Coalition is to educate consumers about the dangers of pharmaceutical waste, in addition to providing safe and legal options for their proper disposal.
The pilot program, funded by state lottery funds that are managed through the Nebraska Environmental Trust, is immediately available and is scheduled to run through August 2013. The program provides the Lincoln and Lancaster County pharmacies with the Sharps Compliance TakeAway Environmental Return System™ at no cost. This environmentally-friendly system provides participating pharmacies with either a 10 or 20-gallon TakeAway Environmental Return System™ community drop box, along with twenty-five TakeAway Environmental Return System™ envelopes used for mailing unwanted, non-controllable, medications from the patients home for proper disposal.
“The Sharps’ medication TakeAway Environmental Return System™ provides a safe and reliable disposal solution for our residents that is protective of both the environment and public health,” explained Dan King of the Nebraska MEDS Coalition.
Mr. Tusa added, “We are pleased the Nebraska MEDS coalition shares our views as to the personal and environmental dangers which result from the improper disposal of unused medications. In addition to making our environment safer, these programs provide opportunities for the local pharmacist to interact and counsel more with their customers to ensure they are properly managing their medications, including improved adherence. We applaud the proactive initiative launched by the coalition and look forward to supporting the cause.”
For more information about the TakeAway Environmental Return System™, go to www.sharpsinc.com or call the dedicated line at 1-888-988-8859.
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. Its strategy is to capture a large part of the estimated $3.8 billion untapped market for unused medications, used syringes and medical waste generated outside of hospital and large health care settings by targeting the major agencies that are interrelated with this medical waste stream; including the U.S. government, pharmaceutical manufacturers, home healthcare providers, retail pharmacies and clinics, 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 generated outside the hospital and large health care facility setting. Its 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.
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.
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