CEO Talks About $50M With Export Sales Projections
Press Release
Source: Ingen Technologies, Inc.
On 11:45 am EST, Tuesday November 3, 2009
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Companies:Ingen Technologies, Inc.
YUCAIPA, Calif., Nov. 3, 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 the projected export sales of their new Oxyview Nasal Cannula this Friday, November 6, 2009 at 10:34AM Eastern Standard Time on The Money Channel's American Scene Radio with host Steve Crowley.
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The company's recently issued Chinese patent, new distribution and expected ISO certification in December-2009 opens doors in the People's Republic of China. Chronic obstructive pulmonary disease (COPD) is a major epidemic in China, costing that society billions of dollars in health care expenditures and lost productivity from premature (and perhaps unnecessary) deaths every year. In 2000, the total cost of COPD and other smoking-related diseases in China was more than U.S. $5 billion and, in 2000, COPD was the second leading cause of mortality in China, trailing only cerebrovascular disease. Ingen has secured intellectual property rights in China, and upon ISO Certification in December-2009, projects a staggering $25M annual sales revenue in China along by 2012. The company has received an offer for China distribution from a major supplier and this will be announced later this month.
The company's pending European patents expected to issue in 2010, its new introduction at Germany's MEDICA this November-2009 and ISO Certification and CE Mark scheduled for December-2009 triggers generous revenues in Europe starting next year. In Europe estimates suggest that 10% of the population has COPD and is now the 5th leading cause of death in the European Communities. The social healthcare structure throughout Europe and for home oxygen care would recognize the cost savings through the use of the company's Oxyview Nasal Cannula and cost reductions as a result of a decrease in unnecessary home visits. Europe's medical care system indicates at least $25M in annual sales to Ingen by 2012.
The company's ISO Certification in December 2009 also allows its new distributor in Australia, Medical Industries Australia, to begin selling the new Oxyview Nasal Cannula immediately. COPD is costing the nation an estimated $818 to $898 million annually. This is a conservative estimate because it is based on 1993-94 figures extrapolated to the Year 2001. The addition of hidden costs could increase the estimate to more than $1 billion per year. It is the 4th leading cause of death for Australians. Annual sales in Australia should reach $1M by 2012, considering their medical care structure and economy of scale.
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.
"Export sales will represent the majority of our $10M in 2010, and by 2012 reach $50M. The export sales are expected to out-perform domestic sales here in the USA as COPD is a more serious problem in China and Europe," Stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
YUCAIPA, Calif., Nov 4, 2009 (GlobeNewswire via COMTEX) -- 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 company has received a purchase order from MedOx Corporation for 40,000 new Oxyview Nasal Cannulas in value of $100,000.
A growing elderly population, increase in home oxygen therapy and surgeries, and an increase in Chronic Obstructive Pulmonary Diseases in the USA has resulted in an increase of buyers for Ingen's new Oxyview Nasal Cannula. The company now provides 8 different models of the Oxyview and Oxyview Nasal Cannula. The cannulas are designed for Adults, Pediatrics and Infants, and include 0-6 liters/minute and a low-flow 0-3 liters/minute unit that is either reusable or comes attached to a high quality 7' latex free oxygen tube with a curved soft-tip nasal cannula. The Oxyview Nasal Cannula is the only oxygen cannula in the world with a flow meter built-in that provides extremely accurate flow rate readings for the patient and caregiver.
The company also received very good news today from the COPD Foundation. The November issue of COPD Digest has been printed and shipped and is receiving an excellent response at the American College of Chest Physician's Annual 2009 conference in San Diego, CHEST 2009. Ingen has a full-page color ad in this edition of the COPD Digest and telephone orders and PayPal orders have increased this week.
"We are seeing a strong increase in revenues, and expect this trend to continue over the next several years. Our accountants and auditors are diligently working on completion of the SEC filings, specifically the 10-KSB. We anticipate filing a revised annual and quarterly report on the OTC Pink Sheets later next week. The company is progressing forward very nicely at this time and we will continue to make public announcements as each event occurs," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board
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