Sharps Compliance Expands Company-Owned Route-Based Services to Arizona, Colorado, New Mexico and Utah

Company’s Direct Route-Based Footprint in 37 States and 80% of U.S. Population COVID-19 Related Mailback Orders Remain Strong

HOUSTON, March 02, 2021 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (NASDAQ: SMED) (“Sharps” or the “Company”), a leading full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous, today announced that it has expanded its company-owned, direct route-based services in Arizona, Colorado, New Mexico and Utah, increasing its geographic and service coverage to now include 37 states and 80% of the population.

David P. Tusa, the Company’s Chief Executive Officer and President added, “Long before the current public health crisis, we recognized the growth opportunity represented by the strategic expansion of our solution offerings to include route-based pick-up. We have methodically grown our route-based program through strong organic growth and strategic acquisitions and we are excited to expand our direct service to four additional states in the Southwest. With this expansion, we further strengthen our infrastructure to meet the needs of the underserved small to medium quantity generator market, and our increased footprint better positions us to pursue and win larger, multiple-state opportunities. Additionally, this expansion allows our inside sales team to target prospects in these states similar to what we have done with our recent Midwest expansion. The success of our route-based offering is reflected in the 41% year-over-year increase in revenue from this solution recorded in the December 2020 quarter and an increase in route-based customer locations to 14,910 at December 31, 2020 from 13,026 at December 31, 2019. The continued strength and success we see in this offering drives and supports this expansion.

“With the expansion of our route-based services and increased mailback activity related to both flu and COVID-19 business, we are experiencing, and expect to continue to see, increased volumes at our treatment facilities as COVID-19 vaccination programs continue to roll-out nationwide. Our proactive decision last year to triple the Company’s treatment capacity positions us to successfully meet current and future increased demand for our services. As we discussed on our January 2021 earnings call, ongoing testing and vaccination programs for COVID-19 are making significant headway across the country and with these rollouts and future related endeavors, we continue to believe we have the opportunity to deliver a significantly strong March 2021 quarter.