Lafayette, Louisiana –
RedHawk Holdings Corp. (OTC:
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 acommercial 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.
Cautionary Statement
Regarding Forward-Looking Statements
This release may contain
forward-looking statements. Forward-looking statements are all statements other
than statements of historical fact. Statements contained in this release that
are not historical facts may be deemed to be forward-looking statements. The
words “anticipate,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,”
“projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be,” “potential”
and any similar expressions are intended to identify those assertions as
forward-looking statements.
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