YUCAIPA, Calif., May 15, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT) a leading Global Medical Device manufacturer focused in the $ 4 Billion U.S. Respiratory Market for the growing ageing and emerging markets for Home (DME), Hospital and Aviation Industries announced today that they have complied with the reporting obligations of FINRA and the PINK OTC Markets.
The company was recently notified by PINK OTC Markets that after a review of the information posted to pinksheets.com, they have determined that the company has met the requirements for the Current Information tier for the period ending 02/28/2009.
Ingen Technologies has seen a slight increase in their Oxyview sales and distribution interest during the past two quarters, including several major events occurring with various OEM partnership negotiations that will be announced in the near future. "We are discussing OEM partnerships with two large global distributors that have a strong foot-hold in the pharmaceutical and respiratory home medical equipment arena," stated Thomas Neavitt, Chief Financial Officer of Ingen.
The company has recently received issuance from China for the Oxyview patent and intellectual property rights in that country. With patents pending in the entire European Community and Japan, the company foresees no problems preventing their issuance as scheduled later this year.
About Oxyview:
Oxyview is a proprietary medical device with US issued patents that stands alone in an increasing patient home oxygen therapy 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 US. COPD is the fifth leading cause of death in the US 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 US, 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 costs less than a single service call.
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