Sharps Compliance Corp. and Drive Medical Design & Manufacturing Announces Settlement of Patent Dispute
January 02 2008 - 12:15PM
PR Newswire (US)
Settlement Results in Drive Medical Design & Manufacturing as
the Exclusive Manufacturer and Sharps as the Exclusive Seller of
the Sharps Pitch-It(TM) IV Poles HOUSTON, Jan. 2
/PRNewswire-FirstCall/ -- Sharps Compliance Corp. (OTC:SCOM)
(BULLETIN BOARD: SCOM) ("Sharps" or the "Company"), leading
providers of cost-effective disposal and homecare logistics
solutions for small quantity generators of medical waste, and
Medical Depot, Inc. (d/b/a/ Drive Medical Design &
Manufacturing) ("Drive Medical"), a privately-held company and one
of the leading manufacturers and distributors of durable medical
equipment in the United States, announced the settlement of a
patent dispute related to the Sharps Pitch-It(TM) IV Poles. In
conjunction with the settlement, Drive Medical will be the
exclusive manufacturer and Sharps will be the exclusive seller of
the Sharps Pitch-It(TM) IV Poles. The innovative Sharps
Pitch-It(TM) IV Poles are cost-effective, portable, adjustable,
lightweight, sturdy and easy to use. The Pitch-It(TM) IV Poles,
which come in three sizes, have been used successfully for over
eight (8) years improving efficiencies and saving money for our
customers in the home healthcare and other industries. Dr. Burton
J. Kunik, the Company's Chairman, Chief Executive Officer and
President commented, "We look forward to a successful relationship
with Drive Medical whereby we can leverage their metal
manufacturing expertise with our customer base and ability to sell
the product across many industries including home healthcare." To
Buy the Product Prospective and existing customers wishing to place
an order for the Sharps Pitch-It(TM) IV poles, please call Sharps
directly at 800-772-5657. The Sharps Pitch-it(TM) IV Poles are as
follows: -- Pitch-It(TM) Sr. 30002-006 (wheeled model); --
Pitch-It(TM) 30003-012 (floor model); and -- Pitch-It(TM) Jr.
30004-012 (table top model). About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps Compliance is a leading
provider of cost-effective disposal solutions for small quantity
generators of medical waste. The Company's flagship product, the
Sharps Disposal by Mail System(R), is a cost-effective and
easy-to-use solution to dispose of medical waste such as hypodermic
needles, lancets and any other medical device or objects used to
puncture or lacerate the skin (referred to as "sharps"). The
Company also offers a number of products specifically designed for
the home healthcare market. Sharps Compliance focuses on targeted
growth markets such as the pharmaceutical, retail, commercial, and
hospitality markets, as well as serving a variety of additional
markets. Sharps is a leading proponent and participant in the
development of public awareness and solutions for the safe disposal
of needles, syringes and other sharps in the community setting. As
a fully integrated manufacturer providing customer solutions and
services, Sharps Compliance's solid business model, with strong
margins and significant operating leverage, and early penetration
into emerging markets, uniquely positions the company for strong
future growth. More information on Sharps Compliance can be found
on its website at: http://www.sharpsinc.com/. About Drive Medical
Drive Medical, a privately-held company, is one of the leading
manufacturers and distributors of durable medical products in the
United States. Drive Medical distributes its products from three
(3) distribution facilities located in New York, Georgia and
California. In addition, Drive Medical markets and distributes its
products to customers located in Europe, Canada, Mexico, South
America, and Latin America. Drive Medical's customers consist of
dealers, wholesalers and retailers of durable medical equipment,
including home healthcare, physician supply, long-term care, acute
care and medical/surgical dealers, mass merchandisers, drug stores,
internet companies, catalog companies and home shopping related
businesses. Drive Medical targets its products to the home
healthcare, medical/surgical and rehabilitation markets. More
information on Drive Medical can be found on its website at
http://www.drivemedical.com/. Safe Harbor Statement The information
made available in this press release contains certain
forward-looking statements which reflect Sharps Compliance Corp.'s
current view of future events and financial performance. Wherever
used, the words "estimate", "expect", "plan", "anticipate",
"believe", "may" and similar expressions identify forward-looking
statements. Any such forward-looking statements are subject to
risks and uncertainties and the company's future results of
operations could differ materially from historical results or
current expectations. Some of these risks include, without
limitation, the company's ability to educate its customers,
development of public awareness programs to educate the identified
consumer, managing regulatory compliance and/or other factors that
may be described in the company's annual report on Form 10-KSB,
quarterly reports on Form 10-QSB and/or other filings with the
Securities and Exchange Commission. Future economic and industry
trends that could potentially impact revenues and profitability are
difficult to predict. The company assumes no obligation to publicly
update or revise its forward-looking statements even if experience
or future changes make it clear that any projected results express
or implied therein will not be realized. For more information
contact: Sharps Compliance Corp. David P. Tusa Executive Vice
President, Chief Financial Officer & Business Development
Phone: (713) 660-3514 Tammy Poblete Kei Advisors LLC Investor
Relations Phone: (716) 843-3853 Email: Drive Medical Design &
Manufacturing Harvey P. Diamond Chairman of the Board and Chief
Executive Officer Phone: (516) 998-4600 xt 245 DATASOURCE: Sharps
Compliance Corp. CONTACT: David P. Tusa, Executive Vice President,
Chief Financial Officer & Business Development of Sharps
Compliance Corp., +1-713-660-3514, ; or Tammy Poblete, Investor
Relations of Kei Advisors LLC, +1-716-843-3853, , for Sharps
Compliance Corp.; or Harvey P. Diamond, Chairman of the Board and
Chief Executive Officer of Drive Medical Design &
Manufacturing, +1-516-998-4600 xt 245, Web site:
http://www.sharpsinc.com/ http://www.drivemedical.com/
Copyright