Sharps Technology Secures $400K Initial Purchase Order from U.S. Leader in IV Flushing Solutions as Part of $50 Million SoloGard Supply Agreement
Milestone order marks first commercial revenue for Sharps Technology under multi-year, 500-million syringe agreement
Investments in best-in-class manufacturing equipment position Sharps to offer differentiated high-volume syringe production to meet long-term contract demand
NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) -- Sharps Technology, Inc. (NASDAQ: “STSS” and “STSSW”) (“Sharps”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry, today announced the receipt of a $400,000 purchase order from a U.S. leader in IV flushing solutions. This marks the first order under the previously announced $50 million supply agreement from July 2024.
“This order represents a transformative moment for Sharps Technology as we begin generating revenue and delivering on our commitment to shareholders,” said Robert Hayes, Chief Executive Officer of Sharps Technology. “Our strategic partnership is now moving from the agreement to the execution phase, with this initial order serving as the foundation for accelerating volume in the quarters ahead. Our Hungarian manufacturing facility is fully prepared to deliver these first orders of pump-compatible 10mL SoloGard syringes, allowing Sharps to recognize our first revenue of 2025. We look forward to advancing this supply agreement and delivering long-term value to our shareholders.”
The order initiates the landmark agreement announced in July 2024, under which Sharps will supply approximately 500 million customized 10mL SoloGard syringes to the U.S.-based supplier of medical saline and water products over a five-year period. The agreement is expected to generate approximately $50 million in revenue during its term.
Sharps has strategically invested in advanced production technology for SoloGard manufacturing and will soon begin installation and operational qualification to support increased production capacity. Sharps continues to work closely with the customer to finalize product qualification and optimize production processes to meet the growing demand anticipated under the agreement.
Braden Miller, Vice President of Product and Program Management at Sharps, concluded: “Our strategic investment in precision molding and advanced automation through partnerships with Husky Medical Molds powered by Schöttli and BBS Automation demonstrates our unwavering commitment to manufacturing efficiency. These collaborations enable us to dramatically streamline production processes while delivering superior quality for our SoloGard syringe systems. By leveraging industry-leading manufacturing technologies, we’re bringing precision, performance, and sustainability to our next-generation syringe manufacturing platform. These technological enhancements create significant operational efficiencies that will be instrumental in accelerating delivery against this $50 million contract.”
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 .
FORWARD-LOOKING STATEMENTS:
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Investor Contact:
Holdsworth Partners
Adam Holdsworth
Phone: 917-497-9287
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