Ingen Technologies, Inc. (IGNT), which provides innovative oxygen cannulas to home care providers similar to Lincare Holdings (LNCR) and Cardinal Health, Inc. (CAH), could see tremendous growth ahead as COPD continues to be a problem both domestically and abroad.
YUCAIPA, Calif., March 22, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), a leading manufacturer of respiratory medical devices, recently announced today that the company is officially ISO 13485 Certified.
The ISO certificate is available to view at http://media.globenewswire.com/cache/6574/file/8005.pdf
In the U.S. alone, COPD is the third leading cause of death with annual costs estimated at $40 billion. Meanwhile, the disease is projected to become the third biggest killer in the entire developed world by 2020. In fact, COPD is the only major disease with an increasing death rate, which is rising at a rate of about 16%, according to the Center for Disease Control (CDC). Perhaps the most common treatment for those with COPD is the use of supplementary oxygen, which helps make it easier for patients to breathe and receive the oxygen level they need. Every single one of these patients requires an oxygen cannula in order to receive the oxygen from the delivery source.
The market for oxygen cannulas is estimated to be around $400 to $500 million in size. Most of the market consists of cannulas that are manufactured overseas and imported at a low cost, since the product is widely believed to be commoditized. However, Ingen Technologies is preparing to change the industry with its "smart" cannulas.
Ingen's Smart Nasal Cannula® includes its disposable in-line Oxyview® flow meter that provides assurance and confirms the oxygen flow rate and equipment function for the patient. In a market where most patients operate out of their home, false alarms can be very costly for home care providers like Lincare Holdings (LNCR) and Cardinal Health (CAH).
"Ingen Technologies is rapidly executing on its business plan and has achieved ISO certification to sell internationally. KGMA is now increasing potential government orders under its pending GSA certification to sell to the U.S. government, and by lining up distributors to help increase its initial sales within the VA Hospitals and Department of Defense. Meanwhile, Ingen's growing patent portfolio not only protects its intellectual property, but also adds value to the organization. As more customers discover the benefits of this new smart nasal cannula with Oxyview technology, investors may see sales and profits quickly ramp up going forward." Stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://www.smartnasalcannula.com/
http://www.ingenpulseoximeter.com/
About Ingen:
Ingen is an established medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the US, and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing US and Foreign Patents and a successful registration with the Food & Drug Administration. The company has domestic and global distribution with manufacture representative organizations, and OEM partners. In 2009 the Oxyview Nasal Cannula was introduced as the world's first oxygen cannula with an in-line pneumatic oxygen flow meter. In 2010 the company introduced the Oxyview Pulse Oximeter. The Oxyview product line is available to the home care markets, commercial medical markets, aviation, automotive, and government sources. The company is licensed with the Department of Health and Human Services, and manufactures its products in the State of California. With approximately 32 million US patients with Chronic Obstructive Pulmonary Disease (COPD), and 600 million patients worldwide, Ingen Technologies is now the largest manufacturer of in-line gravity-independent oxygen flow meters.
The Ingen Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2472
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.