RIVERSIDE, CA--(Marketwire - June 19, 2012) - 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.
FOR MORE UPDATED INFORMATION USE THE FOLLOWING LINK: www.otcfn.com/ignt/
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.