NEW YORK, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: STSS) (NASDAQ: STSSW), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, is working to create new sales and distribution opportunities through the addition of new North American 3PL partnerships to expand its reach into the global healthcare market. These additional third-party logistics partnerships, along with a developing alliance with Roncadelle Operations, a driving force in the development of safe, novel medical drug delivery devices, would combine the strengths and capabilities of the two companies to develop, market and distribute unique drug delivery solutions around the globe, capitalizing on a growing network of established and new logistics resources. Sharps and Roncadelle are evaluating their alliance as an opportunity to work together to bring new drug delivery solutions to market and pave the way to join the companies’ complementary product portfolios, expanding their global reach for both the smart safety disposable syringe and prefillable syringe markets. The partnership to sell and distribute each other’s product portfolio to their respective areas of influence will also move Sharps’ American-based product market into Europe, the Middle East, Africa and the Asia-Pacific region, as well as Roncadelle’s product reach into the North and South American healthcare markets.
Sharps Technology says the need for innovative injection solutions is expected to grow exponentially over the next several years as injectables are the first choice for therapies as diverse as vaccines, biologics, weight loss and maintenance, ophthalmic applications, gene therapies, diabetes and inflammatory disease management. Sharps Technology specializes in the development and manufacturing of innovative drug delivery systems. The company’s Securegard and Sologard product lines focus on low-waste and ultra-low-waste syringe technologies that incorporate active safety features as well as World Health Organization-accredited re-use prevention measures. These features protect frontline healthcare workers from life-threatening needle stick injuries and protect the public from the dangers of needle re-use. Sharps currently has a manufacturing facility in Hungary and is pursuing plans to expand its manufacturing capacity in the U.S. Based in Italy, Roncadelle Operations specializes in developing and manufacturing proprietary passive safety syringes. Their SafeR Retractable Safety Syringe and needles offer a passive safety system with auto-disable reuse prevention features. Additionally, as a Contract Development and Manufacturing Organization (CDMO), they also provide end-to-end services from design to finished products of innovative, safer medical drug delivery solutions.
Sharps reports that the synergy between Sharps and Roncadelle will bring together more than 30 established distribution points with Sharps’ new 3PL partnerships to deliver products to the world healthcare market that stand for simplicity of use and are unparalleled in safety and patient protection, setting new global standards to safeguard people from infection and disease. The business alliance additionally creates a very important player in advancing syringe market opportunities through the development of unique technologies such as prefilled syringes, needle guard systems, auto-injectors, and injector pen devices. “It is exciting to see how well our companies complement each other and how we can leverage our combined relationships, expertise, and resources to build out our distribution network, enhance syringe safety around the world, and introduce novel drug delivery solutions to the healthcare industry,” states Robert Hayes, Sharps CEO. “As we work through the network expansion and details of our collaboration, we can see that this is great timing and a perfect fit for both Sharps and Roncadelle.”
For more information on the companies, please visit http://sharpstechnology.com and www.roncadelle-operations.com.
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Investor Relations:
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RedChip Companies, Inc.
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STSS@redchip.com
