YUCAIPA, Calif., July 10, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News) a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing aging population and emerging markets for Home (DME), Hospital and Aviation Industries announced today that the company will introduce the new infant and pediatric Oxyview Nasal Cannula in August, 2009.
Oxygen is the most commonly used therapy in neonatal nurseries as an integral part of respiratory support. The goal of oxygen therapy is to achieve adequate delivery of oxygen to the tissue without creating oxygen toxicity. Oxygen must have been given to newborn preterm babies more than any other medicinal product in the past 60 years. In 2006, 4,140,419 babies were born in the U.S. Ingen Technologies will introduce the first neonatal nasal cannula that includes the new low-flow Oxyview oxygen flow meter with accuracy between 0-3 liters/minute.
The new Oxyview Infant Nasal Cannula is specially designed for the neonatal market and includes an infant soft-tip insert and the Oxyview low-flow oxygen meter that provides accurate readings between 0-3 liters/minute. "There are no other oxygen flow meters in the market that work in-line with an infant nasal cannula," stated Christopher Wirth, Chief Operations Officer.
The company has already invested in the manufacture of an additional 30,000 Oxyview Infant Nasal Cannulas, as a test market. These cannulas will be available for sale in August, 2009. "We have introduced the new Oxyview Nasal Cannula to our existing distribution, and have received orders for several hundred of the new nasal cannulas since the introduction in June. We expect sales to continue to increase, and will provide an accounting of sales in our next quarterly report ending August 31, 2009," stated Thomas J. Neavitt, Chief Financial Officer.
The company recognizes a potential $20,000,000 of annual revenue with the neonatal respiratory market. The company will include this new cannula with the advertising program designed with COPD Digest and Medco Forum. "Our OEM partner, Neotech Products, Inc., specializes in the neonatal markets. I have personally worked with Arnold Heyman, MD, founder of Neotech Products, and we will offer this company distribution rights to the new product. We are also seeking larger distributors to replace the smaller distributorships we currently have in certain U.S. territories. We are now addressing the reorganization of our distribution to meet the needs of the new Oxyview Adult and Infant Nasal Cannula," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://fn.bmjjournals.com/cgi/content/abstract/92/2/F143
http://pediatrics.aappublications.org/cgi/content/abstract/82/4/527
http://www.healthline.com/galecontent/neonatal-respiratory-care
http://www.neotechproducts.com/
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 U.S. COPD is the fifth leading cause of death in the U.S. 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 U.S., 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 cost less than a single service call.
www.ingen-tech.com
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.
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