HOUSTON, July 15, 2014 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (Nasdaq:SMED) today announced an arrangement to jointly promote Veolia's RECYCLEPAK, a lighting and battery ship-back recycling program. Sharps will market this service to existing and prospective customers as a complement to Sharps' line of medical waste and unused medication management solutions. Sharps will also feature this new solution as part of its online product offerings available for purchase at: http://www.sharpsinc.com/store/universal-waste.html.
"Our decision to partner with Veolia is a natural progression in the expansion of our product offerings and in our commitment to provide environmentally sustainable waste management services. Most professional and retail spaces, including those in our current customer base, use fluorescent lights, batteries and other mercury containing devices that require a safe, eco-friendly means of disposal. This arrangement leverages our longstanding experience offering mail-back solutions for the repurposing of medical waste and unused medications, allows us to offer our established and prospective customer base an efficient method to recycle these universal wastes as they reach end-of-life and highlights our commitment to providing environmentally sound recycling alternatives. By working with Veolia, we have the opportunity to broaden our portfolio of mail and ship-back solutions while providing a value added service," stated David P. Tusa, President & CEO of Sharps Compliance.
Approximately 680 million mercury-containing lamps are discarded each year with about 25%-30% being properly recycled in accordance with applicable state and Federal regulations. Virtually every component of a fluorescent lamp can be recycled, including metal end caps, lamp glass, and the mercury phosphor powder. When recycled properly, lamps are crushed and the materials are separated under a continuous vacuum filtration process. The glass, aluminum and mercury-bearing phosphor powder is captured safely and recycled for use in other products while the mercury phosphor powder is sent to a mercury retort for recovery of the mercury.
"We are pleased to have this opportunity to work with Sharps Compliance to further both companies' commitment to protecting the environment and public health by providing an easy solution for the proper disposal and recycling of lamps, batteries and other mercury containing devices. We look forward to bringing RECYCLEPAK to Sharps' customers," said Kevin Shaver, General Manager of Electronics Recycling for Veolia North America's Industrial Business.
About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps Compliance is a leading full-service provider of comprehensive medical waste management services throughout North America. Its strategy is to capture a large part of the estimated $3.8 billion untapped market for its solutions by targeting the major agencies that are interrelated with this medical waste stream, including pharmaceutical manufacturers, home healthcare providers, retail pharmacies and clinics, the U.S. government 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 has partnered with Daniels Sharpsmart in a joint marketing alliance to serve the entire U.S. medical waste market, addressing small and large quantity medical waste generators with highly cost-effective and compliant solutions. Its innovative offerings serve the needs of healthcare and physician's facilities, dental groups and veterinarians that have multi-site and multi-size locations.
More information on the Company and its products can be found on its website at: www.sharpsinc.com.
Veolia is the global leader in optimized resource management. With over 200,000 employees* worldwide, the company designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, protect and conserve available resources, and to replenish them. In 2013, Veolia supplied 94 million people with drinking water and 62 million people with wastewater service, produced 86 million megawatt hours of energy and converted 38 million metric tons of waste into new materials and energy. Veolia (Paris Euronext:VIE) (NYSE:VE) recorded revenue of $31 billion* in 2013. www.veolia.com
(*) Excluding Transdev employees and revenue currently under divestment
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.
CONTACT: Company Contact:
Diana DiazSharps Compliance Corp.
Office: (713) 660-3547
John Nesbett/Jennifer Belodeau
Institutional Marketing Services
Office: (203) 972-9200
Source: Sharps Compliance Corp.