Benzinga | Jan 24, 2022 08:34AM EST

Sharps Compliance Partners With PharMerica Corporation To 'Bring MedSafe to Long-Term Care Facilities'

Sharps Compliance Corp. (NASDAQ:SMED), a nationwide provider of medical waste and unused medication management solutions, announces its partnership with PharMerica Corporation, a nationwide leader in long-term care (LTC) pharmacy services, to make the Sharps MedSafe available to the LTC facilities in PharMerica's network. PharMerica currently works with more than 2,500 facilities across the U.S.



MedSafe is a proprietary and leading DEA-compliant ultimate user medication management solution, ideal for use in LTC settings. In addition to unused medication management, the MedSafe is designed to reduce cost to LTC facilities through effective and efficient collection, transportation and treatment. With more than 6,000 MedSafe collection receptacles in the marketplace and over 100,000 inner liner returns since MedSafe's launch in 2014, Sharps Compliance has successfully removed over 4.7 million pounds of unused medications from a variety of pharmacy settings, including government and retail pharmacy locations. Sharps Compliance and PharMerica are now partnering to expand the use of MedSafe in LTC communities.

According to Managed Healthcare Associates' (MHA) 2014 and 2015 studies, on average, LTC residents receive 12 prescriptions per month.1 Having such large quantities of medications present creates the potential for diversion and presents environmental and safety concerns for LTC residents. Additionally, by utilizing the MedSafe, LTC facilities can reduce operating costs when compared to traditional methods of medication disposal.

Commenting on the partnership, David P. Tusa, President and Chief Executive Officer of Sharps Compliance, stated, "We are proud and excited to work with PharMerica to provide our industry-leading MedSafe solution to the communities they serve. We believe this partnership presents a tremendous opportunity to provide MedSafe's capabilities to a broader population of LTC locations to help them efficiently address the cost and complexities of DEA and EPA compliant medication management, while also reducing facility operating expenses."

"MedSafe saves both nursing and consultant pharmacist time, and it's environmentally friendly. This solution allows for the orderly disposal of controlled and hazardous medications," said T.J. Griffin, RPh., Senior Vice President, Long-Term Care Pharmacy, PharMerica. "After piloting MedSafe for a year with one of our customers, we're now excited to recommend it to all of them."