Sharps Compliance Acquires Bio-Team Mobile; Route-Based Pick-Up Service Serving Pennsylvania and Maryland
HOUSTON, Dec. 15, 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 Bio-Team Mobile LLC, a route-based medical waste pick-up provider serving Pennsylvania and Maryland.
David P. Tusa, President and Chief Executive Officer of Sharps, commented, “Our acquisition of Bio-Team Mobile, a well-established and well-run medical waste pick-up service, further expands our presence in the Northeast and enhances our ability to directly service customers, complementing our mail-back solutions. This addition, following our acquisition of Alpha Bio/Med earlier this year, coupled with the planned launch of a waste treatment facility in the Northeast, positions us well to efficiently service our strong and growing customer base in the region.”Mr. Tusa continued, “This acquisition fits into our strategic plans to establish a Northeast based operation whereby we can directly provide both our route-based and/or mail-back solutions to customers in a multi-state region.”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.comSafe harbor statementThe 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.Diana P. Diaz
Sharps Compliance Corp.
Vice President and Chief Financial Officer
Phone: (713) 660-3547
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Phone: (203) 972-9200