RIVERSIDE, CA -- (Marketwire) -- 06/19/12 -- Ingen Technologies, Inc. (PINKSHEETS: IGNT), an emerging medical device manufacturer with proprietary products for the growing respiratory markets, announced today that INGEN STANDS AT A KEY TURNING POINT IN ITS HISTORY AFTER HAVING DEVELOPED A UNIQUE SOLUTION TO A GROWING PROBLEM IN THE $8 BILLION PER YEAR MEDICAL RESPIRATORY MARKET. INGEN IS POSITIONING ITSELF TO BE A GLOBAL PLAYER IN THE MONTHS AHEAD.
The company has experienced moderate growth with new medical distributors, and is currently finalizing a distribution channel with a large national home healthcare medical equipment supplier to be announced in the next few weeks. Ingen received a GSA Department of Veterans Affairs Federal Supply Contract Award in 2011 and is now exploring various opportunities with government-based medical equipment suppliers.
There are approximately 32,000 patients in the U.S. using oxygen at home along with millions of patients each year using oxygen in a hospital setting. Ingen's new Smart Nasal Cannula incorporates the Oxyview® flow meter and provides the additional assurance and safety those patients, physicians and nurses require during oxygen therapy. The disposable medical cannula product market has annual revenues of approximately $400M, and Oxyview® is expected to grasp a majority of that market estimating $50M in annual revenue. Oxyview® is the only nasal cannula of this type and the growth in revenues from this product is expected to increase steadily over the long-term.
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