HOUSTON, April 03, 2017 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (NASDAQ:SMED), a leading full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous, announced that it has entered into a new $14.0 million credit facility with a commercial bank. The new facility will be available for, (i) working capital and other general corporate purposes (up to $6 million) and (ii) funding for acquisitions (up to $8 million). The agreement replaces the Company’s existing credit facility.
David P. Tusa, President and Chief Executive Officer of Sharps, commented, “This new credit facility enhances our current strong liquidity position and provides greater financial flexibility to support our growth plans. In addition to supporting continued organic growth, the new credit facility provides additional resources to support potential acquisitions that could expand our market reach or enhance our product offering.”
Details of the new credit agreement are outlined in the Company’s Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission.
About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps Compliance is a leading full-service national provider of comprehensive waste management services including medical, pharmaceutical and hazardous. Its key markets include healthcare facilities, pharmaceutical manufacturers, home healthcare providers, assisted living / long-term care, surgery centers, retail pharmacies and clinics, 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 other used healthcare materials. The Company also offers its route-based pick-up service in an eleven (11) state region of the Northeast portion of the United States as well as Texas and Louisiana.
More information on the Company and its products can be found on its website at: www.sharpsinc.com
