Ingen Starts 2010 With a Leap
UCAIPA, Calif., Jan. 5, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News), a leading global Medical Device Manufacturer for the Oxyview Nasal Cannula, focused on the $4B Respiratory market for the growing aging population and emerging markets for Home (DME), Hospital and Aviation industries, announced today that they have signed a Supply Agreement with Amsino International Inc. on December 1, 2009.
The Pomona-California based Amsino was established in 1993 and is a leading medical device developer and manufacturer dedicated to advancing healthcare worldwide by developing, manufacturing, and marketing medical products that help improve the safety and effectiveness of patient care. Amsino's product and service portfolio includes infusion products and access devices, blood collection and transfusion devices, anesthesia and surgical products, urological products, enteral feeding and irrigation products, respiratory therapy products, patient care products, and a full-service contract manufacturing business. Amsino products are distributed in the United States and more than 30 other countries worldwide.
Ingen and Amsino will manufacture the Oxyview and Oxyview Nasal Cannula at a reduced cost compared to current manufacturing costs. The Supply Agreement is effective for a 3-year term and is renewable.
Ingen is ready for ISO 13485 Certification and is now waiting in line for an audit date in January-2010. The company expects to be certified and the CE Mark and distribution of product will follow. The company expects GSA approval and will make an announcement in January. Both ISO certification and GSA will expand product distribution to U.S. Government branches, inclusive of the Department of Defense and the VA Hospital network, as well as export to China, Japan, Canada, Australia and Europe.
"We look forward to working with Richard Lee, CEO of Amsino, and his professional team. This agreement allows Ingen to reduce manufacturing costs by 40%, and increase efficiency and quality of our respiratory product line. Amsino International was introduced to us through Pacific Pearl Group, our Investment Banking consultants, who have evaluated Amsino as a good fit for manufacturing and distribution of the Ingen product line. With ISO certification near completion and GSA close to approval, the relationship between Amsino and Ingen is expected to be a prosperous one," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://www.amsino.com/
www.oxyviewnasalcannula.com
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 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 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 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.
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