Second commercial delivery underway as part of multi-year contract with leading U.S. healthcare partner
Strategic manufacturing upgrades drive scalability, efficiency, and increases capacity to support production growth
NEW YORK, June 18, 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 an update on the execution of its first shipments under the previously announced $50 million SoloGard sales agreement, alongside a series of advanced manufacturing upgrades.
Sharps has initiated the second shipment of its first commercial order of SoloGard syringes under a multi-year supply agreement with a U.S.-based leader in IV flushing solutions. In preparation for increasing production through the second half of the year, SoloGard manufacturing will be supported by newly installed molding and automation systems – investments that enable Sharps to meet anticipated demand in the second half of 2025 under the sales agreement.
As part of a phased manufacturing upgrade strategy, Sharps is implementing the following initiatives:
- Preparation and fulfillment of the second shipment under the multi-year agreement, continuing to meet customer demand
- Deployment of next-generation injection molding systems to expand manufacturing capacity and streamline cleanroom operations
- Installation of new machinery delivering over 10x energy efficiency compared to prior systems, reducing costs and advancing sustainable production
- Facility upgrades to cleanroom environments and control systems, enhancing product quality and regulatory compliance
- Integration of new ancillary systems to increase throughput and optimize molding and assembly workflows
Sharps is currently executing a $400,000 purchase order, announced June 4, 2025, as part of a broader five-year agreement to supply up to 500 million SoloGard syringes, marking the company’s transition into revenue-generating commercial operations. The contract includes customized 10mL SoloGard smart safety syringes – FDA- and WHO-approved devices that feature ultra-low waste design, standard luer lock compatibility, and re-use prevention technology.
Robert Hayes, CEO of Sharps Technology, commented: “Fulfilling this second shipment marks a significant milestone as we move into commercial execution under the $50 million SoloGard agreement. Over the past several months, we’ve made strategic investments in advanced molding systems, automation, and cleanroom infrastructure. These are transformational upgrades that expand capacity while improving energy efficiency, consistency, and our overall cost structure. These enhancements are central to our long-term strategy, allowing Sharps to fulfill major contracts, scale recurring revenue, and position the Company as an innovation-driven manufacturing partner to the healthcare industry.”
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:
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Investor Contact:
Holdsworth Partners
Adam Holdsworth
Phone: 917-497-9287
Email: [email protected]
