Ingen Technologies, Inc. (IGNT), which provides innovative "SMART" oxygen nasal cannulas to home care providers similar to Lincare Holdings (LNCR) and Cardinal Health, Inc. (CAH), is closing $1.4M in recent orders, with a substantial revenue increase on the horizon
YUCAIPA, Calif., May 24, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), a leading manufacturer of respiratory medical devices, recently announced that CEO, Scott Sand, will be interviewed on The Money Channel's American Scene Radio with host Steve Crowley next Wednesday at 11:06 AM eastern daylight time.
Sand will discuss the new IngenCare product for the $2 trillion drug therapy market expected to be released in August. With the provisional patent filed and production expected in June, the product includes a special container with polymer-crystals that will keep drugs, such as insulin, cool and dry for more than 12 hours while on the go. It is compact, durable and temperature resistant. The polymer-crystals can be reused over and over. Polymer crystals are one of those special items that are almost magical. Polymer crystals gel very similar to a gelatin dessert. Refrigeration ahead of time is not necessary, but it does help extend the cooling time. The same polymer crystals can be rehydrated many times. In addition, Sand will discuss the newest patent on a cannula that will change various colors depending upon flow rate. This new innovative material is embedded into the actual PVC tubing and changes color with various flow rates. "This new product will literally corner the market and revolutionize the meaning of the Smart-Cannula," stated Scott Sand.
The company was recently featured at the MedTrade-Spring in Las Vegas, and has $1.4M in recent orders with back orders exceeding another $1.5M. Ingen's recent successes and changes come during a restructuring in order to align incentives with that of its shareholders. The company is keenly focused on growth, open communication, and leadership by example, as it works diligently to expand its sales and deliver shareholder value.
"Ingen is on the verge of tremendous growth, after enduring a number of regulatory and economic obstacles. In the face of economic headwinds, the company obtained both FDA and ISO Certification and launched several new and inspiring medical products in the respiratory market. As a result of this success, we have attracted many investors and new shareholders," stated Mr. Sand in a recent statement to the shareholders. He further stated, " Ingen has developed a global perspective on the markets in which we compete, inclusive of a thorough market study, securing valuable intellectual property, properly registering our products with the FDA and securing ISO 13485 Certification, CE Mark and distribution partners in order to comply with the world markets for distribution of our medical products."
http://www.moneyshow.com/lvms/main.asp?scode=017566
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.
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.