Sharps Technology Ships First Orders for Securegard Disposable Smart Safety Syringes to Strategic Distribution Partner in Colombia
Sharps Technology (NASDAQ: STSS) has shipped its first orders of Securegard 1mL and 3mL disposable smart safety syringes to Colombia. This marks the company's entry into the Latin American healthcare market. The Securegard syringes feature ultra-low waste technology and World Health Organization accredited re-use prevention measures, aiming to enhance safety for healthcare workers and patients. This shipment, part of a strategic partnership with a Colombian distributor, is expected to drive long-term adoption and improve medical safety across the region.
- First shipment of Securegard syringes to Latin America boosts market entry.
- Strategic partnership with Colombian distributor strengthens regional market presence.
- Ultra-low waste technology enhances drug delivery efficiency.
- WHO accredited re-use prevention measures improve safety for healthcare workers.
- Potential for long-term adoption and recurring purchase orders.
- Initial shipment size and financial impact not disclosed.
- Competitive pricing details and market penetration strategy not specified.
- No mention of current revenue or profit margins from these shipments.
- Potential challenges in wide-scale adoption in a new market.
Insights
The initial shipment of Sharps Technology's Securegard syringes to Colombia signifies a noteworthy market entry into Latin America. By introducing their competitively priced, low waste, smart safety syringes, Sharps is tapping into a region with increasing interest in healthcare innovations. For retail investors, this expansion could signal potential revenue growth and market diversification. Key markets such as Latin America are often characterized by rapid growth in healthcare spending, driven by both governmental initiatives and private investments. The adoption of advanced medical technology, like Securegard syringes, aligns well with broader health initiatives aimed at improving patient safety and healthcare outcomes. Competitiveness in pricing and unique features like re-use prevention and ultra-low waste technology could differentiate Sharps from local and international competitors.
However, the real impact on Sharps' financials will hinge on the extent of market penetration and the ability to secure long-term contracts. Short-term sales boosts are promising, but sustained growth will depend on widespread adoption by healthcare providers and continuous supply chain efficiency.
For investors, monitoring subsequent orders and partnership developments will be important to assess the long-term benefit of this strategic move.
Sharps Technology's deployment of Securegard syringes into Latin America introduces several important innovations. Active safety features and WHO-accredited re-use prevention measures are critical in a region where healthcare systems are actively seeking to minimize needle-stick injuries and prevent needle re-use. These features not only enhance patient safety but also protect healthcare workers from potential infections, addressing a significant concern in medical practice.
The ultra-low waste drug delivery aspect of Securegard syringes is particularly beneficial in resource-constrained settings, ensuring that more patients can receive their required dosages without wastage. This technological advancement could lead to broader adoption of these syringes, influencing purchasing decisions across hospitals and pharmacies. It's essential for investors to note how these benefits translate into acceptance and preference by healthcare practitioners, which in turn will affect sales stability and growth in the region.
Orders for Sharps Securegard 1mL and 3mL syringes are on the water, introducing a line of competitively priced, low waste, smart safety syringes to the Colombian Healthcare System and the Latin American Market
NEW YORK, June 17, 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, has made the first shipment of its 1mL and 3mL Securegard smart safety syringe line to the Latin American healthcare market.
The initial product orders were 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.
“This shipment is a great step in building strategic partnerships within the entire Latin American distribution network and supporting region-wide efforts to improve medical safety and healthcare outcomes,” comments Robert Hayes, Sharps Technology CEO. “While implementing wide-scale change can be challenging, based on our studies we are confident that once healthcare practitioners use Securegard syringes, they will want to continue to use them, leading to long-term purchase orders and deliveries.”
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.
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 407-644-4256
STSS@redchip.com
FAQ
What is the significance of Sharps Technology shipping Securegard syringes to Colombia?
When did Sharps Technology ship its first orders of Securegard syringes to Colombia?
What are the features of the Securegard syringes?
Why are Securegard syringes important for the Latin American healthcare market?
What impact is expected from the shipment of Securegard syringes in Colombia?
