YUCAIPA, Calif., June 4, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT) the leading global medical device manufacturer of intelligent oxygen nasal cannulas focused on the $4 billion respiratory market, today announced that its innovative SMART Nasal Cannula with Oxyview technology are addressing unmet needs with an expected $200 million in revenues over the next 5 years.
Ingen has recently noticed a nice spike in sales from respiratory equipment manufacturers who require Ingen's gas flow meter technology for their own medical equipment.
Since 2007 when Ingen first introduced Oxyview to the world of COPD patients, the acceptance of the product has been impressive. There is no other product like Oxyview that provides the additional information that patients and clinicians rely upon. With approximately 23 million patients in the U.S. – and an estimated 600 million patients worldwide – who suffer from chronic obstructive pulmonary disease (COPD), Ingen stands to capture $200M in revenues over the next 5 years. Since an average COPD patient uses two to three nasal cannulas each month to prevent bacteria build-up within the device, creating a growing recurring demand for the cannula is an additional benefit to Ingen's bottom line.
View Fact Sheet: http://www.ingen-tech.com/PDFbin/FactSheet.pdf
Ingen's SMART Nasal Cannula is superior and very different than that of the conventional oxygen nasal cannulas on the market that now are commoditized products and mass produced overseas and offer patients very little peace-of-mind. As a result, it is not uncommon for home care providers to make frequent visits to oxygen patients concerned that oxygen is not flowing from the tank to the cannula, since there is no way to accurately verify it.
Ingen's one-of-a-kind, patented, high quality SMART Nasal Cannula solves this problem by confirming the flow of oxygen and proper equipment function at roughly the same cost as a traditional cannula. The result is lower costs for home care providers and greater peace-of-mind for in-home oxygen patients with respiratory diseases like COPD.
"Ingen's innovative oxygen cannulas are rapidly gaining traction due to their unique ability to lower costs for home care providers and provide peace-of-mind for oxygen patients," said Ingen CEO Scott Sand. "We have already booked more than $160,000 in revenues during the fourth quarter with $300,000 more in OEM orders backlogged, in addition to $1.4M in government contracts – and we're just scratching the surface."
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.