Sharps technology signs asset purchase agreement to acquire injectez specialty copolymer syringe manufacturing facility and a 10-year purchase agreement for over $400 million from nephron pharmaceuticals

$50 million acquisition of injectez strengthens manufacturing capacity and establishes sharps' leading position in the specialized copolymer prefillable syringe system industry signed term sheet providing for up to $75 million in debt financing to be used for the acquisition nephron commits to minimum orders of over $400 million over 10 years; $30 million in revenue the first year and subsequent minimum orders totaling over $45 million in annual revenue through december of 2033 new york and west columbia, s.c., sept. 26, 2023 (globe newswire) -- sharps technology, inc. (the “company”) (nasdaq: “stss” and “stssw”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, and nephron pharmaceuticals corporation, (“nephron”) a privately owned u.s. leader in contract manufacturing and 503b outsourcing, announce the signing of an asset purchase agreement (apa) to acquire nephron's injectez specialty syringe manufacturing facility.
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