HOUSTON, July 20, 2015 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (NASDAQ:SMED) ("Sharps" or the "Company"), a leading full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous, today announced the acquisition of Alpha Bio/Med Services LLC, a route-based pick-up service located in Pennsylvania. Additionally, Sharps announced the launch of a Company-sponsored route-based pick-up operation in Texas serving Dallas, Houston, San Antonio and Austin, Texas as well as Shreveport, Louisiana.
David P. Tusa, President and Chief Executive Officer of Sharps, commented, "Alpha Bio/Med Services is a very well run organization and a great fit for Sharps as it allows us to service the Pennsylvania, Maryland and Ohio areas with both a route-based pick-up service as well as our traditional line of Sharps Recovery System™ mailback solutions. With this acquisition we are exploring opportunities to build and permit a treatment facility in the northeast to most efficiently service our strong and growing customer base in the region."
Mr. Tusa continued, "As we have discussed on many occasions, we believe the strategic growth of the Company should include acquisitions that will allow us to offer complementary, value-added services to our current and prospective customer base. We believe the acquisition of Alpha Bio/Med, the addition of a treatment facility in the northeast and the launch of our pick-up service operations in Texas will facilitate our strategic growth goals."
As part of its growth strategy, Sharps has successfully enhanced its service offering to include both a subcontracted route-based pick-up and the Sharps Recovery System mailback to maximize savings and efficiencies for customers. The additional services announced today will be focused on the professional, assisted living and long-term care markets and will also expand the Company's service offering to medium quantity markets, such as surgery centers.
New York-based investment bank Achelous Partners, LLC advised Sharps Compliance on the transaction.
About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps Compliance is a leading full-service national provider of comprehensive waste management services including medical, pharmaceutical and hazardous. Its key markets include pharmaceutical manufacturers, home healthcare providers, assisted living / long-term care, retail pharmacies and clinics, and the professional market which is comprised of physicians, dentists and veterinary practices. The Company's flagship product, the Sharps Recovery System, is a comprehensive solution for the containment, transportation, treatment and tracking of medical waste and used healthcare materials. The Company also offers its route-based pick-up service in Pennsylvania, Maryland, Ohio and Texas.
More information on the Company and its products can be found on its website at: www.sharpsinc.com
Safe harbor statement
The information made available in this news 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 revenue 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.