YUCAIPA, Calif., March 25, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), the leading manufacturer of in-line oxygen flow meters for respiratory medical devices, which helps companies similar to McKesson Corporation (MCK) and Amedisys Inc. (AMED) achieve substantial cost-savings by reducing support costs for in-home oxygen patients, recently announced that the company is set to expand into government and export markets.
Ingen, which has developed and patented an innovative "smart" cannula that monitors oxygen flow, stands at a key reflex point in generating shareholder value. Their flagship product has recently attained ISO certification which enables it to be sold internationally. The company has also applied for a key GSA certification to distribute the new Smart Nasal Cannula under various government contracts.
Ingen recently announced that they completed their ISO certification, which allows them to sell their products around the world. Even before this certification, the company had a significant backlog of international orders, which clearly demonstrate interest in their products abroad.
With COPD being the leading cause of death in Europe and Asia, the company expects to see significant demand for their patented Oxyview technology. In fact, some 200,000 to 300,000 people die each year in Europe from COPD, which amounts to 4.1% of men and 2.4% of women.
Ingen expects to meet their 2010 annual $11 million sales projection, with new distribution partners in Israel, as well as across Europe, Asia, Canada and Australia. Through these channels, the company anticipates to quickly ramp up sales around the globe.
With approximately 23.2 million military veterans in the United States and $84.4 billion federal dollars spent on veteran benefits programs alone, Ingen's GSA application will give the company access to a growing government market for healthcare products and services from the private sector. The government healthcare programs have an emphasis on new products that would result in any cost savings.
According to a 2004 report "COPD in VA Hospitals" by Jesse Roman and Rafael Perez, the U.S. government maintains one of the largest home oxygen delivery programs in the nation, serving some 23,000 patients with severe COPD, and costing upwards of $26 million per year.
In fact, COPD affects 16% of all VA hospital admissions and about a third of all admissions to VA medical services, according to the same report. This has led to the VA looking for new tools to improve quality of life, control costs, and provide caregiver satisfaction.
Ingen's innovative SMART nasal cannulas help reduce malpractice claims and unnecessary and costly in-home patient visits by providing patients with a real-time gauge of oxygen flow. With the company's application under review, it is easy to see that they stand at the forefront of a very large near-term market, ready for their products.
As more and more customers discover the benefits of this new smart nasal cannula with Oxyview technology, investors may see huge potential going forward.
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 U.S., and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing U.S. 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 U.S. 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.