Sharps Technology Secures $400K Initial Purchase Order from U.S. Leader in IV Flushing Solutions as Part of $50 Million SoloGard Supply Agreement
Sharps Technology has received a $400,000 initial purchase order from a leading U.S. IV flushing solutions provider, marking its first commercial revenue under a previously announced $50 million supply agreement. The deal, established in July 2024, involves delivering approximately 500 million customized 10mL SoloGard syringes over five years.
The company's Hungarian manufacturing facility is ready to fulfill these first orders, with strategic investments made in advanced production technology through partnerships with Husky Medical Molds and BBS Automation. These collaborations aim to streamline production processes and enhance manufacturing efficiency.
CEO Robert Hayes describes this as a transformative moment for the company, signaling the transition from agreement to execution phase. The company expects to scale up production volume in coming quarters, leveraging precision molding and advanced automation to meet the growing demand under this significant contract.
Sharps Technology ha ricevuto un ordine iniziale di acquisto da 400.000 dollari da un importante fornitore statunitense di soluzioni per il lavaggio endovenoso, segnando il primo ricavo commerciale nell'ambito di un accordo di fornitura da 50 milioni di dollari annunciato in precedenza. L'accordo, stipulato a luglio 2024, prevede la consegna di circa 500 milioni di siringhe SoloGard personalizzate da 10 mL in un arco di cinque anni.
Lo stabilimento produttivo in Ungheria è pronto a evadere questi primi ordini, grazie a investimenti strategici in tecnologie di produzione avanzate realizzati in collaborazione con Husky Medical Molds e BBS Automation. Queste partnership mirano a ottimizzare i processi produttivi e migliorare l'efficienza manifatturiera.
Il CEO Robert Hayes definisce questo momento come una svolta per l'azienda, che segna il passaggio dalla fase di accordo a quella di esecuzione. L'azienda prevede di aumentare il volume di produzione nei prossimi trimestri, sfruttando la precisione nello stampaggio e l'automazione avanzata per soddisfare la crescente domanda derivante da questo importante contratto.
Sharps Technology ha recibido un pedido inicial de compra por 400,000 dólares de un importante proveedor estadounidense de soluciones para el lavado intravenoso, marcando sus primeros ingresos comerciales bajo un acuerdo de suministro previamente anunciado por 50 millones de dólares. El acuerdo, establecido en julio de 2024, implica la entrega de aproximadamente 500 millones de jeringas SoloGard personalizadas de 10 mL durante cinco años.
La planta de fabricación en Hungría está lista para cumplir con estos primeros pedidos, con inversiones estratégicas en tecnología avanzada de producción realizadas en colaboración con Husky Medical Molds y BBS Automation. Estas colaboraciones buscan optimizar los procesos de producción y mejorar la eficiencia manufacturera.
El CEO Robert Hayes describe este momento como transformador para la empresa, señalando la transición de la fase de acuerdo a la de ejecución. La empresa espera aumentar el volumen de producción en los próximos trimestres, aprovechando el moldeo de precisión y la automatización avanzada para satisfacer la creciente demanda bajo este importante contrato.
Sharps Technology는 미국의 주요 IV 세척 솔루션 공급업체로부터 40만 달러의 초기 구매 주문을 받았으며, 이는 이전에 발표된 5천만 달러 공급 계약에 따른 첫 상업적 수익을 의미합니다. 2024년 7월에 체결된 이 계약은 5년 동안 약 5억 개의 맞춤형 10mL SoloGard 주사기를 납품하는 내용을 포함합니다.
회사의 헝가리 제조 시설은 이 첫 주문을 이행할 준비가 되어 있으며, Husky Medical Molds 및 BBS Automation과의 협력을 통해 첨단 생산 기술에 전략적 투자를 진행했습니다. 이러한 협력은 생산 공정을 간소화하고 제조 효율성을 향상시키는 것을 목표로 합니다.
CEO 로버트 헤이즈는 이를 회사에 있어 전환점이라고 설명하며, 계약 단계에서 실행 단계로의 전환을 의미한다고 말했습니다. 회사는 향후 분기 동안 생산량을 확대할 계획이며, 정밀 성형과 첨단 자동화를 활용해 이 중요한 계약에 따른 증가하는 수요를 충족시킬 예정입니다.
Sharps Technology a reçu une commande initiale de 400 000 dollars de la part d'un fournisseur américain majeur de solutions de rinçage IV, marquant ses premiers revenus commerciaux dans le cadre d'un accord de fourniture de 50 millions de dollars annoncé précédemment. L'accord, conclu en juillet 2024, prévoit la livraison d'environ 500 millions de seringues SoloGard personnalisées de 10 mL sur une période de cinq ans.
L'usine de fabrication hongroise de l'entreprise est prête à exécuter ces premières commandes, grâce à des investissements stratégiques dans des technologies de production avancées réalisés en partenariat avec Husky Medical Molds et BBS Automation. Ces collaborations visent à rationaliser les processus de production et à améliorer l'efficacité manufacturière.
Le PDG Robert Hayes décrit ce moment comme une étape transformative pour l'entreprise, marquant la transition de la phase d'accord à la phase d'exécution. L'entreprise prévoit d'augmenter le volume de production dans les prochains trimestres, en tirant parti du moulage de précision et de l'automatisation avancée pour répondre à la demande croissante dans le cadre de ce contrat important.
Sharps Technology hat eine erste Bestellung im Wert von 400.000 USD von einem führenden US-amerikanischen Anbieter von IV-Spüllösungen erhalten, was die ersten kommerziellen Einnahmen im Rahmen einer zuvor angekündigten Liefervereinbarung über 50 Millionen USD markiert. Der im Juli 2024 geschlossene Vertrag sieht die Lieferung von etwa 500 Millionen maßgeschneiderten 10-ml-SoloGard-Spritzen über fünf Jahre vor.
Die Produktionsstätte des Unternehmens in Ungarn ist bereit, diese ersten Aufträge zu erfüllen, nachdem strategische Investitionen in fortschrittliche Produktionstechnologien in Zusammenarbeit mit Husky Medical Molds und BBS Automation getätigt wurden. Diese Partnerschaften zielen darauf ab, die Produktionsprozesse zu optimieren und die Fertigungseffizienz zu steigern.
CEO Robert Hayes bezeichnet diesen Moment als Wendepunkt für das Unternehmen, der den Übergang von der Vereinbarungs- zur Ausführungsphase signalisiert. Das Unternehmen erwartet, die Produktionsmenge in den kommenden Quartalen zu erhöhen und dabei Präzisionsspritzguss und fortschrittliche Automatisierung zu nutzen, um der steigenden Nachfrage aus diesem bedeutenden Vertrag gerecht zu werden.
- Secured first commercial revenue with $400K initial purchase order
- Part of larger $50M supply agreement over 5 years for 500M syringes
- Manufacturing facility ready to deliver first orders of 10mL SoloGard syringes
- Strategic investments in advanced production technology and automation
- Partnerships with Husky Medical Molds and BBS Automation for manufacturing efficiency
- No revenue history prior to this initial order
- Significant capital expenditure required for manufacturing equipment
- Production capacity still being developed - installation and qualification pending
- Heavy dependence on single customer agreement for revenue generation
Insights
Sharps Technology secures first commercial revenue with $400K order, initiating execution on $50M contract and validating business model.
Sharps Technology (NASDAQ: STSS) has achieved a critical commercial milestone with its first $400,000 purchase order from a U.S. leader in IV flushing solutions. This order represents the starting point of the previously announced
The significance of this development cannot be overstated - it marks Sharps' transition from pre-revenue status to a commercial-stage company. The order initiates the delivery phase of a substantial contract to supply approximately 500 million customized 10mL SoloGard syringes over five years.
While the initial order represents less than
The company has made strategic investments in manufacturing infrastructure through partnerships with Husky Medical Molds and BBS Automation for precision molding and advanced automation. These investments demonstrate preparation for scaled production to meet increasing volume requirements as the contract progresses.
This milestone confirms Sharps is advancing from the agreement phase to the execution phase of its business plan. The company expects "accelerating volume in the quarters ahead," suggesting a potential ramp-up in revenue as the contract fulfillment progresses. This development represents concrete validation of the company's ability to monetize its product innovations and begin generating commercial revenue.
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
“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
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
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 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 Contact:
Holdsworth Partners
Adam Holdsworth
Phone: 917-497-9287
Email: IR@sharpstechnology.com
FAQ
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