Sharps Technology’s CEO Issues Corporate Update Highlighting Agreements for SecureGard and SoloGard and Revenue Developments from Manufacturing Operations in Hungary
Sharps Technology (STSS) has provided a corporate update following its recent $20 million capital raise in January 2025. The company has strengthened its balance sheet, eliminated debt, and is advancing its operations in Hungary through key agreements.
The company has a five-year agreement with a U.S. medical products supplier for customized 10mL SoloGard syringes, targeting production of 500 million units worth approximately $50 million. Revenue generation is expected to begin in H2 2025.
STSS is also progressing with SecureGard safety syringe deliveries to a European distributor serving Poland, Slovakia, and Czech Republic, with qualification processes underway at Penta Hospitals International, which operates 34 hospitals and 31 outpatient clinics in Central and Eastern Europe.
The company is expanding its Hungarian manufacturing operations with advanced machinery and workforce enhancement, while continuing negotiations for manufacturing capabilities in South Carolina.
Sharps Technology (STSS) ha fornito un aggiornamento aziendale dopo il recente raccolta di capitali da 20 milioni di dollari a gennaio 2025. L'azienda ha rafforzato il proprio bilancio, eliminato debiti e sta avanzando nelle sue operazioni in Ungheria attraverso accordi chiave.
L'azienda ha un accordo quinquennale con un fornitore statunitense di prodotti medici per siringhe SoloGard personalizzate da 10 mL, puntando a una produzione di 500 milioni di unità del valore di circa 50 milioni di dollari. Si prevede che la generazione di entrate inizi nel secondo semestre del 2025.
STSS sta anche proseguendo con le consegne delle siringhe di sicurezza SecureGard a un distributore europeo che serve Polonia, Slovacchia e Repubblica Ceca, con processi di qualificazione in corso presso Penta Hospitals International, che gestisce 34 ospedali e 31 cliniche ambulatoriali in Europa centrale e orientale.
L'azienda sta ampliando le proprie operazioni di produzione in Ungheria con macchinari avanzati e potenziamento della forza lavoro, mentre continua le negoziazioni per capacità di produzione nella Carolina del Sud.
Sharps Technology (STSS) ha proporcionado una actualización corporativa tras su reciente recaudación de capital de 20 millones de dólares en enero de 2025. La empresa ha fortalecido su balance, eliminado deudas y está avanzando en sus operaciones en Hungría a través de acuerdos clave.
La empresa tiene un acuerdo de cinco años con un proveedor estadounidense de productos médicos para jeringas SoloGard personalizadas de 10 mL, con el objetivo de producir 500 millones de unidades valoradas en aproximadamente 50 millones de dólares. Se espera que la generación de ingresos comience en la segunda mitad de 2025.
STSS también está avanzando con las entregas de jeringas de seguridad SecureGard a un distribuidor europeo que sirve a Polonia, Eslovaquia y República Checa, con procesos de calificación en curso en Penta Hospitals International, que opera 34 hospitales y 31 clínicas ambulatorias en Europa Central y del Este.
La empresa está ampliando sus operaciones de fabricación en Hungría con maquinaria avanzada y mejora de la fuerza laboral, mientras continúa las negociaciones para capacidades de fabricación en Carolina del Sur.
Sharps Technology (STSS)는 2025년 1월에 2천만 달러 자본 조달을 한 후 기업 업데이트를 제공했습니다. 회사는 재무 상태를 강화하고 부채를 없애며, 주요 계약을 통해 헝가리에서의 운영을 진행하고 있습니다.
회사는 맞춤형 10mL SoloGard 주사기에 대해 미국 의료 제품 공급업체와 5년 계약을 체결하였으며, 약 5억 개의 단위를 생산할 계획으로, 이는 약 5천만 달러의 가치가 있습니다. 수익 창출은 2025년 하반기부터 시작될 것으로 예상됩니다.
STSS는 또한 폴란드, 슬로바키아, 체코 공화국에 서비스를 제공하는 유럽 유통업체에 SecureGard 안전 주사기의 배송을 진행하고 있으며, 중앙 및 동유럽에 34개의 병원과 31개의 외래 진료소를 운영하는 Penta Hospitals International에서 자격 인증 절차가 진행 중입니다.
회사는 첨단 기계와 인력 강화를 통해 헝가리의 제조 운영을 확장하고 있으며, 사우스 캐롤라이나에서의 제조 능력 협상도 계속하고 있습니다.
Sharps Technology (STSS) a fourni une mise à jour de l'entreprise suite à sa récente levée de fonds de 20 millions de dollars en janvier 2025. L'entreprise a renforcé son bilan, éliminé ses dettes et fait progresser ses opérations en Hongrie grâce à des accords clés.
L'entreprise a un accord de cinq ans avec un fournisseur américain de produits médicaux pour des seringues SoloGard personnalisées de 10 mL, visant à produire 500 millions d'unités d'une valeur d'environ 50 millions de dollars. La génération de revenus devrait commencer au second semestre de 2025.
STSS progresse également avec les livraisons de seringues de sécurité SecureGard à un distributeur européen desservant la Pologne, la Slovaquie et la République tchèque, avec des processus de qualification en cours chez Penta Hospitals International, qui gère 34 hôpitaux et 31 cliniques ambulatoires en Europe centrale et orientale.
L'entreprise étend ses opérations de fabrication en Hongrie avec des machines avancées et une amélioration de la main-d'œuvre, tout en poursuivant les négociations pour des capacités de fabrication en Caroline du Sud.
Sharps Technology (STSS) hat ein Unternehmensupdate nach der kürzlichen Kapitalerhöhung von 20 Millionen Dollar im Januar 2025 bereitgestellt. Das Unternehmen hat seine Bilanz gestärkt, Schulden abgebaut und treibt seine Aktivitäten in Ungarn durch wichtige Vereinbarungen voran.
Das Unternehmen hat einen Fünfjahresvertrag mit einem US-amerikanischen Anbieter medizinischer Produkte für maßgeschneiderte 10 ml SoloGard-Spritzen abgeschlossen, mit dem Ziel, 500 Millionen Einheiten im Wert von etwa 50 Millionen Dollar zu produzieren. Der Umsatz wird voraussichtlich in der zweiten Hälfte von 2025 beginnen.
STSS arbeitet auch an der Lieferung von SecureGard-Sicherheitsnadeln an einen europäischen Distributor, der Polen, die Slowakei und die Tschechische Republik bedient, während die Qualifizierungsprozesse bei Penta Hospitals International, das 34 Krankenhäuser und 31 ambulante Kliniken in Mittel- und Osteuropa betreibt, im Gange sind.
Das Unternehmen erweitert seine Produktionsaktivitäten in Ungarn mit modernen Maschinen und einer Verbesserung der Belegschaft, während es weiterhin Verhandlungen über Produktionskapazitäten in South Carolina führt.
- $20M capital raise completed, eliminating all debt
- 5-year agreement for 500M SoloGard syringes worth $50M
- SecureGard qualification deliveries begun to major European healthcare networks
- Manufacturing expansion in Hungary with new machinery and workforce
- Revenue generation not expected until H2 2025
- South Carolina manufacturing partnership still in negotiation phase
- Currently operating with pilot tooling, advanced production not yet installed
Insights
Sharps Technology's corporate update reveals significant financial strengthening through a
The update highlights two key revenue-generating agreements: a five-year deal with a U.S. medical products company worth approximately
What's particularly notable is Sharps' positioning to capitalize on market disruptions affecting competitors with Chinese-manufactured products facing tariffs, recalls, and quality issues. The company is strategically expanding manufacturing capabilities in Hungary and potentially in South Carolina to meet increasing demand for specialty injection devices across high-growth therapeutic areas.
While the transition to meaningful revenue is still in progress with qualification processes underway, the debt elimination combined with substantial working capital provides Sharps with operational runway to navigate this critical commercialization phase. The company now appears well-capitalized to execute on its production scale-up for both major product lines in 2025.
Company is strategically positioned following the recent
NEW YORK, March 06, 2025 (GLOBE NEWSWIRE) --
Dear Fellow Shareholders,
As we reflect on the progress since our December update, I am excited to share the latest developments that will shape our Company’s trajectory in 2025 and beyond. With the successful closing of a
Advancing the Five-Year Agreement with Strategic U.S. Medical Products Company for SoloGard
In July 2024, we announced an agreement with a prominent U.S.-based supplier of medical saline and water products to supply customized 10mL SoloGard syringes manufactured at Sharps’ facility in Hungary. This collaboration establishes a five-year sales agreement for at least 500 million syringes, with the potential to generate approximately
Driving Business Development Activities with European Distributor to Support Major Healthcare Networks
In December 2024, we began deliveries for the qualification purposes of Sharps’ SecureGard safety syringes, manufactured at our Hungary facility, under the previously announced sales agreement with a prominent European medical supply company serving Poland, Slovakia, and the Czech Republic. Early qualification processes are underway with healthcare groups, most notably Penta Hospitals International ("Penta"). Penta is the largest international chain of hospitals and outpatient clinics in Central and Eastern Europe, comprising 34 hospitals, 31 outpatient clinics, and 26 facilities for long-term care patients. We are currently shipping SecureGard to healthcare groups across Europe for qualification approval, and our team is working closely with them to secure orders. We remain committed to fulfilling shipments in the coming months.
Continued Demand for Sharps’ Products and Manufacturing Expansion in Hungary
Our recent financing positions Sharps with working capital to expand operations in Europe by adding advanced machinery, expanding our workforce, and enhancing production capabilities. We continue to collaborate with both government and private investment sources in Hungary to increase our manufacturing footprint and meet the escalating demand for Sharps’ SecureGard and SoloGard syringes. We believe that Sharps is well-positioned to capitalize on challenges facing customers who are dealing with industry headwinds such as tariffs, recalls, and quality issues with Chinese-made products.
The demand for our innovative injection solutions is growing rapidly, with injectables continuing to be the preferred delivery method for therapies in areas like vaccines, biologics, weight loss, ophthalmic and cosmetic applications, gene therapies, and diabetes and inflammatory disease management. Sharps is committed to advancing innovation in the syringe space and will keep you updated as our expansion efforts in Hungary progress.
Strategic Partnership for Manufacturing in South Carolina Remains in Progress
Our leadership team continues to negotiate with the selling partner on the previously announced project for manufacturing in South Carolina. Sharps is actively pursuing potential partners to expand U.S. capacity, and as these discussions progress, we will keep you updated on the status of confirmed negotiations.
2025 Growth Opportunities for SecureGard and SoloGard and Closing
In closing, we are fully committed to driving significant revenue from both the SecureGard and SoloGard projects. With the Company’s recent financing, we believe that we are well-positioned to execute our growth strategy by utilizing new working capital for essential operating and capital expenses. With early production on track for the second half of 2025 and SecureGard shipments expected in the second quarter, we are confident in our revenue transition this year. We deeply appreciate the patience and support of our shareholders as these initiatives progress, and we will continue to provide updates as developments unfold.
Thank you for your continuing support and confidence in our Company. For more information, please visit www.sharpstechnology.com
Sincerely,
Robert Hayes, CEO Sharps Technology, Inc.
About Sharps Technology:
Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary. For additional information, please visit www.sharpstechnology.com and these recent news stories: SecureGard sales agreement, SoloGard sales agreement.
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 Contact:
Holdsworth Partners
Adam Holdsworth
Phone: 917-497-9287
Email: info@sharpstechnology.com
FAQ
When will STSS begin generating revenue from the SoloGard syringe agreement?
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