YUCAIPA, Calif., April 23, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), a leading Global Medical Device manufacturer focused in the $4 Billion Respiratory Market for the growing ageing and emerging markets for Home (DME), Hospital and Aviation Industries announced today that orders from existing OEM partners, and new home oxygen DME providers have increased by over 200% just in the past 30 days.
The company received a second bulk purchase order from Qosina Corporation on April 3rd of this month, and then recently a third bulk purchase order for triple the quantity of Oxyview's on April 16th of this month. Qosina, founded in 1980, is a leading global components supplier to the medical and pharmaceutical industries. In addition, there has been an increase in Oxyview sales over the past 30 days from new DME providers and online patient purchasing, including Summit Home Medical, and CHAMPS Medical. Other companies like Airlift Unlimited and American HomePatient have expressed an interest and are evaluating the Oxyview. American HomePatient provides oxygen equipment and supplies, patient assessment and follow up, and sleep therapy equipment (CPAP and supplies) to patients in 13 mid-west states in the U.S.A.
Over the next two decades, medical costs related to chronic obstructive pulmonary disease (COPD) will total approximately $832.9 billion in the United States, according to a study to be presented at the American Thoracic Society International Conference on May 22nd. The potential market for Oxyview would result in $30M annually in the US alone. The estimated future costs related to COPD, found that the disease will cost $176.6 billion in the U.S. over the next five years, and $389.2 billion over the next 10 years.
"While the home durable medical equipment (DME) providers benefit through the use of the Oxyview flow meter with their patients and clinical network, Oxyview sales are expected to increase as the respiratory industry continues to recognize the cost savings experienced through the use of our new Oxyview product. Ingen owns the intellectual properties and manufactures Oxyview, allowing us to offer the device at a competitive price, making it very affordable for the patient, and providing our distribution and the company with better than average margins and profits. Overall, the Oxyview continues to save government healthcare costs providing a more efficient means for home oxygen therapy, and improving quality care for the home oxygen patient," stated Thomas Neavit, CFO of Ingen Technologies.
About Oxyview:
Oxyview stands alone in an increasing patient market while there are 23 million patients diagnosed with chronic obstructive pulmonary disease (COPD) in the United States, according to the World Health Organization, and another 12 million patients that are undiagnosed in the U.S. COPD is the fifth leading cause of death in the U.S. and there are 600 million COPD patients worldwide where in most cases, COPD is either the first or second leading cause of death in other countries. The majority of COPD patients require continued home oxygen therapy, which includes all of the required equipment supplied by the home (DME) provider. With the new regulations for oxygen reimbursement in the U.S., the home (DME) providers need to cut costs to stay in business. Oxyview provides a substantial savings as a result of decreasing the number of service calls for the home (DME) provider. Oxyview is a pneumatic metering device that displays oxygen flow near the patient. The Oxyview flow meter easily and quickly installs on to the oxygen tubing nearest the patient where oxygen flow matters the most. Without the Oxyview, patients cannot confirm oxygen flow, and as a result there is an increase in anxiety and the patient calls the home (DME) provider with concerns. Oxyview also allows the home (DME) provider to trouble-shoot other equipment problems over the telephone which eliminates an on-site visit with the patient. More important, the Oxyview provides the patient with more assurance that they are receiving adequate and prescribed oxygen flow. The Oxyview cost less than a single service call.
The Ingen Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2472
http://www.ahom.com/cgi-bin/search.pl/ShowBillingCenters
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.