Sharps Compliance Announces $40 Million U. S. Government Contract
February 02 2009 - 11:00AM
PR Newswire (US)
$40 million contract to provide the Sharps Medical Waste Management
System HOUSTON, Feb. 2 /PRNewswire-FirstCall/ -- Sharps Compliance
Corp. (OTC Bulletin Board: SCOM) ("Sharps" or the "Company"), a
leading provider of cost-effective disposal solutions for
alternative site healthcare facilities and other generators of
medical waste, today announced that it has been awarded a contract
to provide its Sharps Medical Waste Management System
("Sharps(R)MWMS(TM)") to an agency of the United States Government.
The total contract is valued at approximately $40 million and is
expected to be executed over a five year period. The Company has
received a purchase order for $28.5 million which represents
products and services to be provided during the first contract
year. The following four option years represent payment for program
maintenance. About Sharps Compliance Corp. Headquartered in
Houston, Texas, Sharps Compliance is a leading provider of
cost-effective disposal solutions for alternative site healthcare
facilities and other generators of medical waste and unused
pharmaceuticals. The Company's flagship product, the Sharps
Disposal by Mail System(R), is a cost-effective and easy-to-use
solution to dispose of medical waste such as hypodermic needles,
lancets and any other medical device or objects used to puncture or
lacerate the skin (referred to as "sharps"). The Company also
offers a number of products specifically designed for the home
healthcare market and products for the safe disposal of unused
pharmaceuticals, RxTakeAway(TM). Sharps Compliance focuses on
targeted growth markets such as the pharmaceutical, retail,
government, commercial, and hospitality markets, as well as serving
a variety of additional markets. Sharps is a leading proponent and
participant in the development of public awareness and solutions
for the safe disposal of needles, syringes and other sharps in the
community setting. More information on Sharps Compliance can be
found on its website at: http://www.sharpsinc.com/. Safe Harbor
Statement The information made available in this press release
contains certain forward-looking statements which reflect Sharps
Compliance Corp.'s current view of future events and financial
performance. Wherever used, the words "estimate", "expect", "plan",
"anticipate", "believe", "may" and similar expressions identify
forward-looking statements. Any such forward-looking statements are
subject to risks and uncertainties and the company's future results
of operations could differ materially from historical results or
current expectations. Some of these risks include, without
limitation, the company's ability to educate its customers,
development of public awareness programs to educate the identified
consumer, customer preferences, the Company's ability to scale the
business and manage its growth, the degree of success the Company
has at gaining more large customer contracts, managing regulatory
compliance and/or other factors that may be described in the
company's annual report on Form 10-K, quarterly reports on Form
10-Q and/or other filings with the Securities and Exchange
Commission. Future economic and industry trends that could
potentially impact revenues and profitability are difficult to
predict. The company assumes no obligation to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any projected results express or implied
therein will not be realized. For more information contact: David
P. Tusa Executive Vice President, Chief Financial Officer &
Business Development Phone: (713) 660-3514 DATASOURCE: Sharps
Compliance Corp. CONTACT: David P. Tusa, Executive Vice President,
Chief Financial Officer & Business Development of Sharps
Compliance Corp., +1-713-660-3514, Web Site:
http://www.sharpsinc.com/
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