Stran & Company Secures Multi-Year Contract with Large National Healthcare Company

Rhea-AI Summary

Stran Secures Major Healthcare Contract

Quincy, MA, Jan. 6, 2022 - Stran & Company (NASDAQ: STRN, STRNW) has announced a multi-year contract with a prominent healthcare company aimed at providing incentive products to promote consumer health behaviors. This contract is projected to generate over $6 million in annual revenue. Stran was selected for its expertise in complex marketing and diverse product sourcing, focusing on aiding pregnant women and individuals with hypertension. This partnership reflects Stran's market traction and presents significant growth potential in the healthcare sector.

Positive

• Secured a multi-year contract with a major healthcare company.
• Projected to generate over $6 million in annual revenue.
• Selected for expertise in managing complex promotional marketing programs.
• Potential for expansion in the healthcare market, reflecting untapped opportunities.

Negative

• None.

Contract Projected to Generate Over $6 Million in Annual Revenue

Quincy, MA , Jan. 06, 2022 (GLOBE NEWSWIRE) -- Stran & Company, Inc. ("Stran" or the "Company") (NASDAQ: STRN) (NASDAQ: STRNW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today announced that it has secured a multi-year contract with a large nationally recognized healthcare company to provide incentive products and literature designed to help drive consumer health behaviors.

Stran was selected as the provider for this initiative based on its expertise in managing complex promotional marketing programs and its ability to effectively source a wide variety of relevant products. The incentive products that will be distributed to the program participants include branded promotional items, educational collateral, and un-branded medical devices that are aimed at driving consumer health behaviors of pregnant women as well as those suffering from hyper-tension or high blood pressure.

Andy Shape, President and CEO of Stran, commented, “We are pleased to be selected by this premier healthcare company, which reflects our traction in the market. We believe this selection also validates our ability to address the complex marketing needs of our customers. The healthcare industry is among the top industries utilizing promotional products as a marketing tool to increase brand awareness and engage with consumers. We believe the healthcare market represents a significant, yet largely untapped, opportunity to utilize promotional products to help drive positive and healthy consumer behaviors. We look forward to working closely with this customer and anticipate this contract will drive significant annual revenue for Stran with potential expansion opportunities.”

About Stran
Over the past 25 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded merchandise and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen partner of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorship activation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge technology, including efficient ordering and logistics technology to provide order processing, warehousing and fulfillment functions. The Company’s mission is to develop long-term relationships with its clients, enabling them to connect with both their customers and employees in order to build lasting brand loyalty.  Additional information about the Company is available at: www.stran.com.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the SEC and other reports filed with the SEC thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

FAQ

What is the significance of Stran's new contract with the healthcare company?

The contract is projected to generate over $6 million in annual revenue and reflects Stran's expertise in promotional marketing.

What products will Stran provide under the new healthcare contract?

Stran will provide incentive products, including branded promotional items and educational materials aimed at improving consumer health behaviors.

What are the expected impacts of the healthcare contract on Stran's stock?

The contract could positively impact Stran's stock performance due to anticipated revenue growth and market expansion.

When was the healthcare contract announced?

The healthcare contract was announced on January 6, 2022.

What is Stran's stock symbol?

Stran's stock symbol is STRN for common shares and STRNW for warrants.