HOUSTON, Aug. 22, 2011 (GLOBE NEWSWIRE) -- 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 and unused dispensed medications, announced that Walgreens (NYSE:WAG) (Nasdaq:WAG) now offers the Sharps' Complete Needle Collection & Disposal System™ (patent pending). The product, available exclusively at Walgreens until December, provides individuals a convenient and cost-effective means to properly contain, return and dispose of their needles without the complexity and adverse environmental impacts that come from the traditional disposal options available today.
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David P. Tusa, President and CEO of Sharps Compliance commented, "We estimate that there are approximately 10 million people in the U.S. that legally self-inject medications. Additionally, the vast majority of those needles are improperly handled and end up in our solid waste stream and landfills through regular solid waste pick-up or flushing. We commend Walgreens on making available a solution for customers required to regularly use needles or syringes for their health and well-being, such as people with diabetes. This system also addresses concerns regarding the exposure of family members and others to the risk of an accidental needle-stick."
"When it comes to patient care and safety, this innovative disposal alternative can help provide a convenient option for patients," said Suzanne Hansen, Walgreens group vice president of pharmacy operations. "Customers often ask about what to do with these types of needles and now, our pharmacists have another option to discuss with patients."
Mr. Tusa noted, "Complete Needle is actually two offerings in one. First, the product provides the individual self-injector with a reasonably priced containment solution designed to protect self-injectors and their family members. Second, the product includes an optional disposal feature utilizing the U.S. Postal Service designed to protect the individual's community, solid waste workers and the environment. Further, Walgreens' pharmacies are very convenient for most self-injectors since many obtain their medications and needles through this channel."
The functional product offering provides the consumer with the proper container for their needles, syringes or other injection devices along with the option to purchase the logistics (U.S. Postal Service return label). For more information about how it works, visit www.completeneedle.com or call the dedicated Complete Needle™ line at 1-888-988-8859.
The Complete Needle Collection & Disposal System™ is a safe, easy-to-use and cost-effective solution designed for consumers and includes the Company's containment, packaging, return shipping via the U.S. Postal Service, tracking and treatment, where the waste is repurposed by Sharps into PELLA-DRX™, an industrial material used in energy-intensive businesses.
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 health care facility setting. Its strategy is to capture a large part of the estimated $2.8 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 other products include the Sharps® MWMS™ (Medical Waste Management System), a comprehensive solution designed for rapid deployment in emergency situations and features the Sharps™ Recovery System™ and TakeAway System™ products combined with warehousing, inventory management, training, data and other services. Its TakeAway 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
About Walgreens
Walgreens (www.walgreens.com) is the nation's largest drugstore chain with fiscal 2010 sales of $67 billion. The company operates 7,742 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.
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 expressed or implied therein will not be realized.
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