Key appointment with demonstrated experience in leading sales and marketing operations to oversee commercial initiatives as the Company launches its specialty smart safety syringe products to the market
Product qualification and sales initiatives underway as company prepares for U.S. commercial operations
NEW YORK, July 12, 2023 (GLOBE NEWSWIRE) -- Sharps Technology, Inc. (the “Company”) (NASDAQ: “STSS” and “STSSW”), an innovative medical device and drug delivery Company offering patented, best-in-class syringe products, is pleased to announce the appointment of Ben Scheu as Senior Director of Sales to lead commercial operations as the Company prepares to launch products to the market.
Robert Hayes, Sharps Technology Chief Executive Officer, commented: “With an extensive career leading companies that manufacture pharmaceutical packaging products and a proven track record of driving revenue growth, Ben will play an integral role in accelerating Sharps’ expansion and solidifying the Company’s position in the market. I worked with Ben when he was the President and CEO of Centor, Inc., a business unit of Gerresheimer, and saw significant growth through his leadership in the Company’s prescription container and medication dispensing units to become the market leader in those segments. I am confident in his ability to expand our market presence with an initial focus on launching our Securegard® disposable smart safety syringe product line, and then leading the team that will introduce Sharps’ next-generation polymer-based prefilled syringe systems. Ben is well-positioned to contribute to our long-term success and we look forward to his leadership.”
Mr. Scheu has held executive leadership positions in prominent healthcare companies and has demonstrated his ability to drive sales growth and develop effective commercial strategies. Prior to joining Sharps, Mr. Scheu served as President and CEO of Centor Inc., a pharmaceutical packaging manufacturing division of Gerresheimer with a complete line of regulatory compliant prescription containers for medication dispensing, packaging for robotic automation and standard and custom imprinted closures. At Centor, he oversaw significant revenue growth that led their company to achieve a market leading position in the prescription container and medication dispensing product segment. Additionally, Mr. Scheu served as COO of The Waddington Group, a division of Newell Brands (an $850 million per year disposable packaging manufacturer), President of B+H North America (a $400 million per year division of the AptarGroup), President of Rigid Closed Top (an ~$1B per year division of Berry Plastics Corporation), and executive sales and marketing roles at leading specialty market corporations.
Mr. Scheu will be instrumental in leading Sharps’ marketing initiatives as the Company advances from research and development to commercial revenue. His initial focus will be leading sales efforts around Sharps’ commercial-ready Securegard®, a disposable smart safety syringe product offering with multiple configurations. Mr. Scheu will lead the efforts around commercialization and contracts with customers within the retail pharmacy space to support the efforts around the introduction of Sharps’ technology to healthcare customers, which include hospital networks. Sharps recently announced a qualification agreement with a major medical device company for its smart safety syringe technology that could drive increased commercial revenue in 2023. The agreement will begin with the 1mL and 3mL Securegard® product line and will be followed by Sologard® Luer lock syringes for larger volume drug applications. The qualification agreement will allow for the opportunity to create secondary sales agreements with additional key hospital networks, which Mr. Scheu will oversee.
In conjunction with the vial-draw product launch, Sharps is also preparing for the commercialization of its next-generation polymer-based prefilled syringe systems, which will be the Company’s future growth driver. Technical and commercial resources will be added to Mr. Scheu’s prefilled product team, and Sharps will begin manufacturing from the Inject-EZ facility in Columbia, South Carolina. Through Mr. Scheu’s deep expertise in plastics operations and sales, he will play an integral role in supporting the partnership with Nephron Pharmaceuticals.
About Sharps Technology
Sharps Technology is a medical device and pharmaceutical packaging company specializing in the development and manufacturing of innovative drug delivery systems. The Company’s product lines focus on low waste and ultra-low waste syringe technologies that incorporate both passive and active safety features. These features protect front line healthcare workers from life-threatening needle stick injuries and protect the public from needle re-use. Sharps Technology has extensive expertise in specialized prefilled syringe systems and ready to use processing. The Company has a manufacturing facility in Hungary and has partnered with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. 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,” 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 Relations:
US Investor Relations:
Adam Holdsworth, Managing Director
TraDigital IR
adam@tradigitalir.com
