YUCAIPA, Calif., May 19, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT) a leading Global Medical Device manufacturer focused in the $4 Billion U.S. and $8 Billion global Respiratory Market for the growing ageing population and emerging markets for Home (DME), Hospital and Aviation Industries announced today that they have reached an agreement with Legend Medical Devices, Inc. to combine the Oxyview and cannula together to increase market share.
Legend Medical Devices is a world leading manufacturer and marketer of respiratory products for anesthesia, respiratory care and infection control. The company is a subsidiary of Asia Healthcare Holdings focused on developing the most cost effective medical products that can help the healthcare professionals achieve quality airway management. Their main business is to design, manufacture, import and distribute FDA approved and ISO certified medical products in the U.S. market through business alliances with their subsidiaries and partnerships with medical manufacturing companies in Asian countries, such as China, Korea, and other countries.
Ingen Technologies has agreed to purchase the Legend-MD(tm) cannula manufactured by Legend Medical Devices, and Legend Medical Devices has agreed to package the Oxyview with their nasal cannulas. Ingen will start selling the Oxyview-Cannula in June-2009. The company intends to offer the new disposable Oxyview-Cannula at the same price as the leading competitor's price. "The new product will offer the home oxygen patients, worldwide, a much better and improved cannula at the same price as the competition, however. The competitor cannula does not include a pneumatic flow-meter. This will be the first cannula of its kind offered with a pneumatic gravity-independent flow meter already attached," stated Chris Wirth, Chief Operations Officer for Ingen Technologies.
The Oxyview-Cannula allows the patient to verify that they are receiving the prescribed dosage of oxygen and that their equipment is functioning properly. Without the Oxyview-Cannula, there is no means to confirm oxygen flow nearest the patient or whether or not the equipment is working properly. A cannula is the oxygen tubing and nasal attachment that connects to the delivery equipment and extends to the patient's nose. The cannula is a disposable item. With the Oxyview-Cannula, Patients will improve their home oxygen therapy. The company will continue to sell the individual reusable Oxyview.
"The Oxyview-Cannula will revolutionize the cannula market. There is an estimated 23 million home oxygen patients in the U.S. that use several cannulas each month. With the Oxyview-Cannula competitively priced, the patients will now have a choice between the old-style cannula and ours. This new product is a win-win for the patients and our company," stated Scott Sand, Chief Executive Officer of Ingen Technologies.
About Oxyview:
Oxyview is a proprietary medical device with US issued patents that stands alone in an increasing patient home oxygen therapy market while there are 23 million patients diagnosed with chronic obstructive pulmonary disease (COPD) in the United States, according to the World Health Organization, and another 12 million patients that are undiagnosed in the US. COPD is the fifth leading cause of death in the US and there are 600 million COPD patients worldwide where in most cases, COPD is either the first or second leading cause of death in other countries. The majority of COPD patients require continued home oxygen therapy, which includes all of the required equipment supplied by the home (DME) provider. With the new regulations for oxygen reimbursement in the US, the home (DME) providers need to cut costs to stay in business. Oxyview provides a substantial savings as a result of decreasing the number of service calls for the home (DME) provider. Oxyview is a pneumatic metering device that displays oxygen flow near the patient. The Oxyview flow meter easily and quickly installs on to the oxygen tubing nearest the patient where oxygen flow matters the most. Without the Oxyview, patients cannot confirm oxygen flow, and as a result there is an increase in anxiety and the patient calls the home (DME) provider with concerns. Oxyview also allows the home (DME) provider to trouble-shoot other equipment problems over the telephone which eliminates an on-site visit with the patient. More important, the Oxyview provides the patient with more assurance that they are receiving adequate and prescribed oxygen flow. The Oxyview costs less than a single service call.
http://www.legendmd.com/partners.php
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