YUCAIPA, Calif., May 7, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), a medical device manufacturer anticipating $11M in Fiscal 2010 and another $200 million in revenues over the next five years , with an emerging new medical product line for the $4 billion U.S. and $8 billion global respiratory market, today announced that its strategic partner, KGMA Business Solutions, has submitted a proposal to move forward and capture the $1M in government sales for Ingen.
"KGMA is fully committed to assist INGEN in achieving its goals and objectives." Stated Kenneth Kurk, CEO of KGMA Business Solutions. He further stated; "The contract value is based on the field market survey conducted February 1, 2010 to May 1, 2010 provided by KGMA." Ingen has developed a strategic relationship with KGMA to field test the new Oxyview and Smart Nasal Cannula products with various VA Hospitals, Clinics and Department of Defense facilities. KGMA provided the results of a field study showing that approximately 60 facilities would purchase $1.2M in Ingen respiratory product over the next 3-4 months. These facilities have a remaining combined budget of $36M that can be used for purchasing medical products, supplies and equipment from now until the end of the year. Typically, these government facilities want to spend their budget so that the preceding years budget is the same or higher. KGMA has visited each of these facilities and has successfully demonstrated the new Oxyview and Smart Nasal Cannula and as a result these facilities have an interest in buying these products.
The company's sales for the fourth quarter to date are approximately $160,000, not including OEM pending orders of more than $300,000.
http://www.smartnasalcannula.com/
http://www.ingenpulseoximeter.com/
About Ingen:
Ingen is an ISO Certified 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 is establishing domestic and global distribution with manufacture representative organizations, and OEM partners. In 2009 the SMART Nasal Cannula using Oxyview Technology was introduced as the world's first oxygen cannula with an in-line pneumatic oxygen flow meter. In 2010 the company introduced its new INGEN 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.
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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.