Sharps says InjectEZ acquisition supported through ‘major investment’

Sharps Technology announces the signing of a 5-year, $200 million syringe Sales Agreement, SA, with Nephron Pharmaceuticals to complement the Company’s Asset Purchase Agreement, APA, to acquire the InjectEZ specialty syringe manufacturing assets in West Columbia, South Carolina. “Sharps will now have manufacturing operations in Europe and the United States, and this deal will generate significant short and long-term revenue for the Company. This transaction enables Sharps to enter the highly profitable copolymer prefillable syringe market segment, which is showing the greatest growth rate in the syringe marketplace. With the associated $200 million Sales Agreement in place for copolymer prefillable syringes, we will substantially accelerate Sharps’ revenue growth allowing the Company to create a new level of revenue and performance. Together, these landmark transactions will undeniably position the Company for future growth, providing meaningful benefits to both patients and shareholders,” commented Robert Hayes, Sharps Technology CEO. The company added: “The acquisition of manufacturing assets in the U.S. will enable Sharps to commercialize innovative copolymer prefillable syringe systems to the healthcare market beginning in the second quarter of 2025. The asset acquisition price is $35 million and the will be an assumption of certain related liabilities of up to $4 million. The plant is a new state-of-the-art facility with fully automated syringe system manufacturing, packaging, and distribution in West Columbia, South Carolina. Once complete, this advanced facility will be the only fully dedicated COC prefillable syringe manufacturing plant in North America, designed with innovative manufacturing capabilities to produce specialty syringe systems. The closing of the acquisition has been approved by BlackRock, the seller’s senior lender. It will also be supported through a major investment from a strategic partner, and is expected to close within the next 60 days. However, there can be no assurance that the acquisition will be completed, and the Sales Agreement is subject to the closing of the acquisition of the assets.”