Sharps Compliance Acquires Affordable Medical Waste; Enhances Route Based Services and Density in Indiana

Rhea-AI Summary

Sharps Compliance Corp. (NASDAQ: SMED) announced the acquisition of Affordable Medical Waste (AMW) for $2.2 million. AMW, a respected provider of medical waste solutions in Indiana, serves over 500 customer locations. This acquisition aligns with Sharps' growth strategy to enhance route density and strengthen its position in the waste management sector. CEO David P. Tusa emphasized the opportunity to capitalize on an active pipeline of acquisitions, supported by Sharps' strong balance sheet.

Positive

• Acquisition of Affordable Medical Waste enhances market presence.
• Strategic move to increase route density and strengthen leadership position.
• Strong balance sheet enables further acquisitions.

Negative

• None.

HOUSTON, Oct. 25, 2021 (GLOBE NEWSWIRE) -- 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 the acquisition of Affordable Medical Waste (“AMW”), a full-service, route-based provider of medical waste solutions to over 500 customer locations in the Midwest, primarily in Indiana. The purchase price for AMW was $2.2 million.

David P. Tusa, President and Chief Executive Officer of Sharps, stated, “Affordable Medical Waste is a very well run and respected medical waste management company serving primarily the Indiana area. This acquisition is consistent with our long-term growth strategy, which includes initiatives to both drive organic growth and acquire complementary route-based providers designed to increase route density and further establish our leadership position as a comprehensive provider of waste management solutions. Our strong balance sheet provides us with this opportunity to execute on our broader acquisition strategy as we continue to work our active pipeline of opportunities.”

About Sharps Compliance Corp.

Headquartered in Houston, Texas, Sharps Compliance (NASDAQ: SMED) is a leading business-to-business services provider to the healthcare, long-term care and retail pharmacy markets. Sharps Compliance offers comprehensive solutions for the management of regulated medical waste, hazardous waste and unused medications. For more information, visit: www.sharpsinc.com.

Forward-Looking Statements

The information made available in this news release contains certain forward-looking statements relating to the Company that are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management. When used in this document, the words "may," “position,” "plan," “potential,” “designed,” “continue,” "anticipate," "believe," "expect," "estimate," “project,” and “intend” and words or phrases of similar import, as they relate to the Company or its subsidiaries or Company management, are intended to identify forward-looking statements. Such statements reflect the known and unknown   risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, customer relations, relationships with vendors, governmental regulation and supervision, seasonality, distribution networks, product introductions and acceptance, technological change, changes in industry practices, onetime events and other factors described herein including the impact of the coronavirus COVID-19 (“COVID-19”) pandemic on our operations and financial results. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company’s Quarterly Reports on Form 10-Q, our Annual Report on Form 10-K, and our other filings with the Securities and Exchange Commission. Actual results may vary materially. You are cautioned not to place undue reliance on any forward-looking statements. You should also understand that it is not possible to predict or identify all such factors and as such should not consider the preceding list or the risk factors to be a complete list of all potential risks and uncertainties. The Company does not intend to update these forward-looking statements.

For more information contact:

Diana P. Diaz Sharps Compliance Corp. Executive Vice President and Chief Financial Officer Phone: (713) 660-3547 Email: ddiaz@sharpsinc.com

John Nesbett/Jennifer Belodeau IMS Investor Relations Phone: (203) 972-9200 Email: jnesbett@institutionalms.com

FAQ

What is the significance of Sharps Compliance's acquisition of AMW?

The acquisition allows Sharps Compliance to enhance its market presence in the Midwest and improve route density.

When was the acquisition of Affordable Medical Waste announced?

The acquisition was announced on October 25, 2021.

What is the purchase price for the acquisition of AMW?

The purchase price for Affordable Medical Waste was $2.2 million.

How does the acquisition align with Sharps Compliance's growth strategy?

This acquisition aligns with Sharps' strategy to drive organic growth and acquire complementary providers to enhance service delivery.

What areas does Affordable Medical Waste serve?

Affordable Medical Waste primarily serves the Indiana area, with over 500 customer locations.