CEO Discusses Projections for 2010 of $10M in Sales
YUCAIPA, Calif., Nov. 2, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News), a leading global Medical Device Manufacturer focused on the $4B Respiratory market with their Oxyview products for the growing aging population and emerging markets for Home (DME), Hospital and Aviation industries, announced today that the CEO, Scott Sand, will discuss conservative projections for 2010 tomorrow, Tuesday November 3, 2009, at 11:24AM on The Money Channel's American Scene Radio with host Steve Crowley.
A growing elderly population, increase in home oxygen therapy and surgeries and an increase in Chronic Obstructive Pulmonary Diseases in the USA will result in demand for better efficiency and cost reductions in medical care. The elderly population in the USA age 75 and older in 2010 is expected to be almost 19M. In 2015 it is expected to increase to 20M and over the next 30 years will more than double. The Oxyview and Oxyview Nasal Cannula improves home oxygen therapy and reduces supplier costs by decreasing unnecessary service calls, thus reducing government expenditures related to treating COPD.
The World Health Organization (WHO) estimates that COPD as a single cause of death in the world shares 4th and 5th places with HIV/AIDS (after coronary heart disease, cerebrovascular disease and acute respiratory infection). COPD is the fourth leading cause of death in the U.S. and is projected to be the third leading cause of death for both males and females by the year 2020. It is estimated that there may currently be 16 million people in the United States currently diagnosed with COPD, and that there may be as many as an additional 14 million or more in the United States still undiagnosed, as they are in the beginning stages and have little to minimal symptoms and have not sought health care yet. About 1.5 million emergency department visits by adults 25 and older were made for COPD in 2000. The total estimated cost of COPD in 2002 was $32.1 billion. $18 billion were direct costs. $14.1 billion were indirect cost, and it is estimated that the total cost of managing COPD in 1998, physicians, medications, hospital and nursing care, etc., exceeded 15 billion dollars in the United States.
With proper marketing, advertising, branding, distribution and direct sales; Ingen expects to generate $10M in sales. These numbers are based on assumptions and recent historical trends with the company's increase in sales and market acceptance. The ISO 13485 Certification expected in December 2009 will instantly result in large export shipments of the Oxyview and Oxyview Nasal Cannula products. In addition, the company has signed marketing contracts with various firms to activate an immediate direct sales program to oxygen providers, suppliers and COPD support groups in the USA. The sales in 2010 will represent approximately less than 1% of the US market in oxygen cannula sales.
With the new manufacturing revisions, manufacturing costs will decrease approximately by 50%, while this new revision increases quality and efficiency in the manufacture of Oxyview and the Oxyview Nasal Cannula. The prior sales margins of 63% will remain the same while the company passes these manufacturing savings directly to its distribution as an incentive to better compete with the competition.
"With the new auditors in place, and near completion of the required SEC filings, the management is focused on increasing sales and distribution of the Oxyview and Oxyview Nasal Cannula; while we continue to finalize ISO and GSA in the next 2 months. The GSA application was submitted in September-2009 and GSA has informed us that they have undergone internal changes and would respond in the next 30 days. GSA increases our sales in to the VA hospitals, while the ISO certification opens huge doors for exporting our products globally," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://www.moneychannel.tv/scas.php
http://www.swivel.com/data_sets/show/1016323
http://www.copd-international.com/library/statistics.htm
www.ingen-tech.com
About Ingen: Ingen is an established 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 successful licensing with the Food & Drug Administration, and has commenced domestic and global distribution with manufacture representative organizations, and OEM partners. In 2009, the company introduced the new Oxyview Nasal Cannula for adult, children and infants. In addition to selling its respiratory products within the global medical industry, the company is selling the same products within other industries that include aviation, automotive, emergency response, military and government transportation. The company holds a Device Manufacturing License with the State of California, Department of Public Health, Food and Drug Branch as it manufacturers all of its respiratory products in the United States. There are 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.
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