Retractable Technologies Stock

Retractable Technologies, Inc. engages in the manufacturing and marketing of safety medical products (predominately syringes) for the healthcare industry.

The company has manufacturing facilities in Little Elm, Texas and uses manufacturers in China as well. The company’s syringes are well-suited for administering vaccinations.

The company increased its manufacturing capacity in Little Elm, Texas, funded in part by the Technology Investment Agreement (‘TIA’) with the United States Government Department of Defense, the U.S. Army Contracting Command-Aberdeen Proving Ground, Natick Contracting Division & Edgewood Contracting Division (ACC-APG, NCD & ECD) on behalf of the Biomedical Advanced Research and Development Authority (BARDA), as amended (‘TIA’).

The company’s intention is to become a leading provider of safety medical products. The company’s principal products were designed to protect healthcare workers, patients, and others from needlestick injuries, cross-contamination through reuse, and reduce disposal costs.

The company’s dominant revenue-generating products are the company’s injection devices (syringes and needles). Such products are marketed under the VanishPoint, Patient Safe, and EasyPoint brands. The company has only one reporting segment. Most of the company’s products incorporate a feature whereby the company’s needles retract, which is a safety feature designed to protect healthcare workers from needlestick injuries. The company’s VanishPoint 1mL syringes meet the criteria set by pharmaceutical manufacturers for low dead space, which results in a reduction of wasted medication caused by residual medication remaining in the syringe after a dose has been administered. In some instances, the low dead space allows for additional doses to be obtained from a medication vial.

The company has under development additional safety products that add to or build upon the company’s product line offering.

The company’s products are sold to and used by healthcare providers. Historically, an overwhelming majority of the company’s products have been sold domestically. However, in 2022, 44.9% of the company’s sales were international sales.

The company distributes its products throughout the U.S. through general line and specialty distributors. The company also uses international distributors. The company has developed a national direct marketing network in order to market the company’s products to health care customers and their purchaser representatives.

Intellectual Property

Patents related to recent modifications to the VanishPoint syringes and core technology of the VanishPoint syringes will expire during the years 2028 through 2032. Other patent applications covering inventions applicable to the VanishPoint syringes are pending.

The company has unexpired patents which relate to the EasyPoint technology and other products as well.

The company has registered the following trade names and trademarks for the company’s products: VanishPoint, EasyPoint, Patient Safe, VanishPoint logos, RT and design, the VanishPoint and design, the spot design and the company slogans ‘The New Standard for Safety’ and ‘The company Make Safety Safe’.

Government Approval and Government Regulations

As a manufacturer of medical devices and operating under the TIA, the company is subject to stringent regulatory requirements.

The development, manufacture, marketing, sale, promotion, and distribution of the company’s products are subject to government regulation by the U.S. Food and Drug Administration (FDA) and similar international regulatory agencies.

For all products manufactured for sale in the domestic market and foreign market, the company holds a Quality Management System certification to ISO 13485:2016. Additionally, for all products manufactured for sale into the applicable countries, the company holds a Quality Management System certification in compliance with the Medical Device Single Audit Program (MDSAP).

History

Retractable Technologies, Inc. was incorporated in Texas in 1994.