Sharps Compliance enters new $5.0M Credit Agreement with Wells Fargo Bank

Sharps Compliance Corp. (Nasdaq:SMED) ("Sharps" or the "Company"), a leading full-service provider of cost-effective management solutions for medical waste and unused dispensed medications generated outside the hospital and large healthcare facility setting, announced today that it has entered into a new $5.0 million, two-year Credit Agreement with Wells Fargo Bank, National Association. The Credit Agreement provides for a revolving line of credit and replaces the Company's prior $2.5 million Line of Credit Agreement with JPMorgan Chase Bank, N.A. Borrowings under the new line may be used for working capital, capital expenditures, letters of credit, acquisitions, and general corporate purposes.

Regarding the announcement, Mr. David P. Tusa, President of Sharps Compliance Corp., stated, "The new line of credit, which doubles our borrowing capacity, is a reflection of our growth and financial performance over the last few years. The new credit agreement will enhance our flexibility and provide additional support for our continued expansion as we work to penetrate the estimated $2 billion market for the management of medical waste and unused medications outside the large healthcare and hospital setting."