Sharps Technology Kicks Off $50M SoloGard Syringe Supply Agreement with $400K Initial Order from U.S. IV Flushing Leader

April 30, 2025

DENVER, Colo., Apr 30, 2025 (247marketnews.com)- Sharps Technology (NASDAQ:STSS) secured a $400,000 initial purchase order from a leading U.S. supplier of IV flushing solutions, marking its first commercial revenue under a transformative $50 million supply agreement announced in July 2024. This milestone order for Sharps’ proprietary 10mL SoloGard syringes signals the start of a five-year, 500-million-unit contract, positioning the company to capitalize on the $15 billion global syringe market while showcasing its strategic investments in cutting-edge manufacturing to meet high-volume demand.

Details of the Milestone Order and Agreement

The $400,000 purchase order initiates a landmark multi-year agreement with a U.S.-based leader in medical saline and water products, under which Sharps will supply approximately 500 million customized 10mL SoloGard syringes over five years, generating an estimated $50 million in revenue. The SoloGard, designed with advanced safety features to prevent needlestick injuries, aligns with stringent healthcare standards, making it ideal for IV flushing applications critical to patient care. Sharps is actively collaborating with the customer to finalize product qualification and optimize production processes, ensuring seamless delivery of the high-volume order.

Robert Hayes, Sharps’ CEO, stated, “This order represents a transformative moment for Sharps Technology as we begin generating revenue and delivering on our commitment to shareholders. Our strategic partnership is now moving from the agreement to the execution phase, with this initial order serving as the foundation for accelerating volume in the quarters ahead. Our Hungarian manufacturing facility is fully prepared to deliver these first orders of pump-compatible 10mL SoloGard syringes, allowing Sharps to recognize our first revenue of 2025. We look forward to advancing this supply agreement and delivering long-term value to our shareholders.”

To support this contract, Sharps invested heavily in state-of-the-art manufacturing equipment at its facilities, with installation and operational qualification set to begin shortly. These upgrades enhance Sharps’ capacity to produce differentiated, high-quality syringes at scale, positioning it to meet the agreement’s long-term demands and pursue additional contracts in the $15 billion syringe market (Statista, 2025).

Strategic Significance of the Move

This initial order is a pivotal moment for Sharps, transitioning it from a developmental-stage innovator to a revenue-generating player in the medical device sector. The $50 million agreement validates Sharps’ SoloGard technology, which offers superior safety and reliability compared to conventional syringes, addressing the 1.3 million annual needlestick injuries reported globally (CDC). By securing a partnership with a U.S. IV flushing leader, Sharps gains a foothold in the critical healthcare supply chain, where demand for safe, high-quality syringes is surging due to increased hospital procedures and regulatory focus on worker safety.

Braden Miller, Sharps’ VP of Product and Program Management, added, “Our strategic investment in precision molding and advanced automation through partnerships with Husky Medical Molds powered by Schöttli and BBS Automation demonstrates our unwavering commitment to manufacturing efficiency. These collaborations enable us to dramatically streamline production processes while delivering superior quality for our SoloGard syringe systems. By leveraging industry-leading manufacturing technologies, we’re bringing precision, performance, and sustainability to our next-generation syringe manufacturing platform. These technological enhancements create significant operational efficiencies that will be instrumental in accelerating delivery against this $50 million contract.”

Sharps’ investments in best-in-class manufacturing equipment underscore its forward-thinking approach. Unlike competitors reliant on outdated production methods, Sharps’ advanced technology enables cost-efficient, high-volume output, ensuring it can fulfill the 500-million-unit contract while maintaining quality.

The agreement also enhances Sharps’ financial outlook, with the $400,000 order providing immediate cash flow and the $50 million contract projecting steady revenue through 2029. This stability strengthens Sharps’ ability to compete with larger players like Becton Dickinson, which dominates the $7 billion U.S. syringe market, while carving out a niche in specialized safety syringes.

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