Ingen Announces Projections of $10M in Sales for 2010
YUCAIPA, Calif., Nov. 3, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink
Sheets:IGNT), 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, discussed conservative projections for 2010 on
The Money Channel's American Scene Radio with host Steve Crowley this past
Tuesday.
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 in 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 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 adults, 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 manufactures 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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CONTACT: Ingen Technologies, Inc.
Jeff Morgan
909-790-7180
www.info@ingen-tech.com
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