Sharps Technology enters into 5-year agreement with medical product company

Sharps Technology has successfully concluded negotiations and signed a contract with a prominent U.S.-based supplier of medical saline and water products to supply them with customized 10mL SoloGard syringes manufactured at Sharps’ facility in the EU. The customer initiated an evaluation of Sharps’ SoloGard product in light of the recent FDA recalls and tariffs imposed on Chinese supplied syringes. Their successful evaluation of the SoloGard syringes led to the execution of a five-year sales agreement that completely sells out the currently available manufacturing capacity for the 10mL SoloGard product. “Creating a strategic partnership with the customer and selling out production capacity at the Hungary plant for the next five years is a historic accomplishment for Sharps and the future success of the Company,” stated Robert Hayes, CEO of Sharps Technology. “The collaboration creates a five-year sales agreement for at least 500 million syringes and essentially consumes the current available manufacturing capacity for Sharps’ 10mL SoloGard disposable syringe. This project also provides a clear path for near-term revenue for our company beginning in Q4 2024, with a phased ramp up into 2025.”