Sharps Technology Enters Latin American Market and Receives First Orders for Securegard Disposable Smart Safety Syringes from Strategic Distribution Partner in Colombia
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Insights
The move by Sharps Technology, Inc. to introduce its Securegard syringe line to the Latin American healthcare market is a strategic expansion that taps into the growing demand for safety-enhanced medical devices. This expansion is indicative of the company's commitment to international growth and the diversification of its customer base. By partnering with a local distributor, Sharps can leverage existing networks and market knowledge to effectively navigate the regulatory landscape and consumer preferences, which can be quite nuanced in the healthcare sector.
From a market perspective, the introduction of these syringes could potentially increase the company's market share and revenue streams. It's important to note that Latin America has been experiencing a rise in healthcare expenditures and a push towards improving medical infrastructure. This suggests a receptive environment for new medical technologies, especially those that promise to enhance safety and efficiency. Furthermore, the adoption of Securegard syringes by healthcare professionals could lead to repeat orders, fostering a sustainable revenue model for Sharps Technology.
The Securegard syringes incorporate active safety features and World Health Organization accredited re-use prevention measures. These characteristics are crucial in preventing needlestick injuries, which are a significant occupational hazard for healthcare workers. The adoption of such technology could reduce the incidence of blood-borne infections transmitted through accidental needlesticks, which is a substantial public health concern.
Moreover, the ultra-low waste drug delivery technology ensures that a higher volume of the drug reaches the patient, which is particularly important for expensive biologics and vaccines where dosage precision is critical. By maximizing drug therapy availability, Securegard syringes could improve treatment outcomes and potentially reduce overall healthcare costs associated with wasted medication.
The entry of Sharps Technology into the Latin American market with its Securegard syringes may have broader economic implications. By providing a product that enhances medical safety and efficiency, there could be a downstream effect on healthcare economics. Improved safety measures can lead to a decrease in healthcare-associated costs, such as those stemming from occupational injuries to medical staff and the resultant loss of labor and potential litigation.
In the long term, the proliferation of such safety-enhanced devices can contribute to a more robust healthcare system, potentially attracting further investment into the region's healthcare sector. Additionally, the manufacturing of these syringes at the Sharps EU facility suggests a strategic use of global supply chains to optimize production and distribution costs, which could reflect positively on the company's profit margins and investor confidence.
Initial Orders for Sharps Securegard 1mL and 3mL Syringes are in Process, Introducing a Line of Competitively Priced, Low Waste, Smart Safety Syringes to the Colombian Healthcare System and the Latin American Market
NEW YORK, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: “STSS” and “STSSW”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, is preparing to make the first shipment of its 1mL and 3mL Securegard smart safety syringe line to the Latin American healthcare market.
The initial product orders have been placed through a collaborative effort between Sharps and a Latin American distribution partner based in Colombia and represent a significant step towards promoting safer healthcare practices in the region. Tapping into the growing interest in safety syringe technology in Latin America, the collaboration will make the Securegard syringe line available to hospitals, pharmacies, and direct points of sale and will give healthcare networks access to utilizing the technology and firsthand experience with its real-world benefits.
“We are building strategic partnerships within the entire Latin American distribution network to support region-wide efforts to improve medical safety and healthcare outcomes. While implementing wide-scale change can be challenging, we are well positioned to introduce Securegard to healthcare agencies and facilities across the region,” comments Robert Hayes, Sharps Technology CEO. “Based on prior studies, we are confident that once healthcare practitioners use Securegard syringes, they will want to continue to use them in their practice, leading to ongoing purchase orders.”
Securegard syringes provide clinicians with an ultra-low waste drug delivery technology that incorporates active safety features as well as World Health Organization accredited re-use prevention measures. These features maximize the amount of drug therapy that is available to patients while both protecting frontline healthcare workers from life-threatening needle stick injuries and protecting the public from the dangers of needle re-use. The introduction of Securegard technology into Latin America can greatly enhance the overall quality level of healthcare available in that market. Product manufacturing is currently underway at the Sharps EU facility, with delivery planned to occur within the next 90 days.
Securegard syringes offer a promising drug delivery solution for healthcare markets, facilities, and providers by incorporating safety and re-use prevention features into their design. Moreover, the use of ultra-low waste syringe technology ensures that the maximum number of doses of needed drug therapies can be made available to the people who depend on them. This is not only beneficial for healthcare professionals and patients across the vast Latin American market, but also sets a positive example for other regions to follow in adopting sustainable and safe medical practices.
For additional information on Sharps Technology and its Securegard smart safety syringes, please visit www.sharpstechnology.com.
FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “poised” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity, and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance, or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
STSS@redchip.com
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