YUCAIPA, Calif., June 23, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT) a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing ageing population and emerging markets for Home (DME), Hospital and Aviation Industries announced today that the company will begin to introduce the new Oxyview-Nasal Cannula tomorrow.
The new Oxyview-Nasal Cannula is a medical device that provides home oxygen patients with a quality soft tip nasal cannula and oxygen flow meter combined. This new device is sold for $5.75 retail, and is price competitive with other nasal cannulas that do not include an oxygen flow meter. The company manufactures Oxyview, an in-line gravity independent oxygen flow meter that provides any patient using oxygen with vital information about the flow rate nearest the patient, as well as provides assurance that the oxygen delivery system is properly functioning. The Oxyview-Nasal Cannula provides the patients and clinicians with several key improvement factors. The Oxyview-Nasal Cannula displays the actual prescribed oxygen flow rate. Without this new device, there is no confirmation of flow rate at the delivery site. As a result, the new Oxyview-Nasal Cannula eliminates unnecessary telephone calls between the patient and the oxygen provider in regards to receiving oxygen or equipment problems. It also provides the oxygen supplier an improved means to trouble shoot equipment problems over the telephone without a required on-site visit. This added assurance to both the patient and oxygen provider improves oxygen therapy and decreases costs that are essentially paid through Medicare, Medicaid and third party insurance carriers.
There are a recorded 23 million patients in the U.S. using home oxygen therapy, and all of them, not including hospitalized patients, use several nasal cannulas each month. There are an estimated 600 million patients worldwide that require home oxygen therapy.
The nasal cannula (NC) is a device used to deliver supplemental oxygen to a patient or person in need of extra oxygen. This device consists of a plastic tube which fits behind the ears, and a set of two prongs which are placed in the nostrils. Oxygen flows from these prongs. The nasal cannula is connected to an oxygen tank, a portable oxygen generator, or a wall connection in a hospital via a flow meter. The nasal cannula carries 1-6 liters of oxygen per minute. There are also infant or neonatal nasal cannulas which carry less than one liter per minute; these also have smaller prongs. The oxygen fraction provided to the patient ranges roughly from 24% to 35%. The nasal cannula was invented by Wilfred Jones and patented in 1949 by his employer, BOC.
The company has been selling Oxyview as an individually packaged respiratory product, and has now developed a disposable and more affordable Oxyview flow meter that will be attached and prepackaged to a variety of nasal cannula products for the 23M home oxygen patients in the USA and 600M patients worldwide. The company will sell the new Oxyview-Cannula under the Ingen logo. The potential market size for the new Oxyview-Cannula is a conservative estimate of $200M per year in the U.S. and $150M per year outside the U.S.
"Beginning tomorrow, the company website will include the new Oxyview-Nasal Cannula and deliveries will commence. We have scheduled advertising with COPD Digest and other large respiratory publications," stated Scott Sand, CEO and Chairman of Ingen Technologies.
About Oxyview:
Oxyview is a proprietary medical device with U.S.-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.
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.