LAFAYETTE, LA / ACCESSWIRE / May 10, 2019 / RedHawk Holdings Corp. (OTC PINK: IDNG) ("RedHawk" or the "Company") announced today that it has entered into a customer-specific sales representation agreement with Jeeds Health, Inc., an affiliate of Pharmaceutical Buyers, Inc. ( "PBI" - www.pharmaceuticalbuyersinc.com ), for the sale of its SANDD mini ("Sharps and Needle Destruction Device") needle destruction devices. The Company believes the agreement will eventually extend to the SANDD Pro unit when it is offered for sale later in 2019.
PBI, a New York-based company headquartered in Long Island, New York, sources and distributes clinical trial, biologic and specialty drugs to approximately 285 major pharmaceutical and biotech companies in the United States and overseas. Through an affiliate, R&H Pharmacy, PBI distributes prescription, medication, vitamins, supplements and over-the-counter items to various wholesalers in the European Union.
PBI serves an active base of about 285 major pharmaceutical related companies in the United States and in over 30 other countries in the branded, generic and biotech/pharmaceutical industry and include virtually all major generic drug manufacturers. PBI specializes in sourcing large quantities of drugs while maintaining confidentiality for generic, biotech and branded drug manufacturers. PBI believes it has the deepest supply chain in the market and is often the sole source for critical and difficult-to-find drugs. PBI prides itself on providing pharmaceutical drugs of any type and therapeutic area, in any dosage form and in any quantity wherever they are needed. PBI also provides standard of care medicine, adjunctive therapies, rescue medications and ancillary supplies.
With its extensive pharmaceutical customer base, the Company said it believes PBI and its affiliate, Jeeds Health, Inc., are well positioned in the market to offer its SANDD mini needle destruction unit to home use self-injectors.
The SANDD mini (formerly known as The Disintegrator™) is a portable, battery operated, needle destruction device for use at home primarily by diabetics. The device is intended for the destruction and environmentally friendly disposal of 27-32 gauge hypodermic needles that are 5/16 to 5/8 inch in length. It can be used with most insulin pens with disposable insulin syringes from 1/3 to 1 cubic centimeter in volume. The SANDD mini is used by diabetics for the safe and environmentally friendly disposal of needles following their use and is an effective alternative to hazardous waste needle disposal utilizing sharps containers.
RedHawk acquired the exclusive rights to the SANDD Pro™ (the "SANDD Pro™") needle incineration technology in September 2018. With the SANDD Pro™, the Company's hypodermic needle incineration capabilities now include 14-gauge hypodermic needles and higher, up to 8 inch in length. Additionally, the acquired SANDD Pro™ technology features a portable, rechargeable, battery operated unit. This portable unit (the "SANDD Pro™ - Portable") will incinerate as many as 300 needles, ranging in gauges as thick as 21 gauge and lengths up to 8" on a single charge. The SANDD Pro™ - Portable is ideal for field use by first responders, home health care nurses, veterinarians and home use injectors. The SANDD Pro™ is FDA approved and OSHA compliant.
The complete line of SANDD™ products can be used in virtually all home and commercial applications including hospitals, first responders, a full range of clinics and primary care physicians, dentists, veterinarians, retirement and non-acute healthcare facilities. The SANDD mini™ is currently offered for sale. After completion of engineering testing and intellectual property re-design, the Company said it expects to offer the SANDD Pro™ and the SANDD Pro™ - Portable for sale during 2019.
RedHawk Medical Products, LLC, a wholly-owned subsidiary of RedHawk, acquired the tangible and intangible property rights to SANDD and has completed the re-engineering of its SANDD mini. The Company has received pre-market clearance from the U.S. Food and Drug Administration for the sale of SANDD in the United States.
About RedHawk Holdings Corp.
RedHawk Holdings Corp., formerly Independence Energy Corp., is a diversified holding company which, through its subsidiaries, is engaged in sales and distribution of medical devices, sales of branded generic pharmaceutical drugs, commercial real estate investment and leasing, sales of point of entry full-body security systems, and specialized financial services. Through its medical products business unit, the Company sells WoundClot Surgical - Advanced Bleeding Control, the Sharps and Needle Destruction Device (SANDD™), and the Carotid Artery Digital Non-Contact Thermometer. Through our United Kingdom based subsidiary, we manufacture and market branded generic pharmaceuticals. Our real estate leasing revenues are generated from various commercial properties under long-term lease. Additionally, RedHawk's real estate investment unit holds limited liability company interest in a commercial restoration project in Hawaii. The Company's financial service revenue is from brokerage services earned in connection with debt placement services. RedHawk Energy holds the exclusive U.S. manufacturing and distribution rights for the Centri Controlled Entry System, a unique, closed cabinet, nominal dose transmission full-body x-ray scanner.
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G. Darcy Klug, Chairman, CEO and CFO
SOURCE: RedHawk Holdings Corp.