YUCAIPA, Calif., June 2, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT) a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing aging population and emerging markets for Home (DME), Hospital and Aviation Industries, announced today that the company has started the manufacture of the new Oxyview-Cannula to be sold later this month.
There are a recorded 23 million patients in the U.S. using home oxygen therapy, and all of them, not including hospitalized patients, use several nasal cannulas each month. There are an estimated 600 million patients worldwide that require home oxygen therapy. The current market for the nasal cannula has a cost range of $2-$6 per cannula, and is used for approximately 10 days before disposed. These current cannulas do not include a built-in flow meter. The new disposable Oxyview-Cannula will include the nasal cannula and the Ingen Oxyview flow-meter attached at a cost of $4.75. Typically the nasal cannula is replaced 3-4 times each month because it builds up bacteria and moisture. The average list price for a nasal cannula is $5.75, however, the DME provider is responsible to include the cannula along with the other oxygen equipment reimbursable at a flat monthly rate from Medicare. There are several advantages to use the new Oxyview-Cannula, inclusive of allowing the patient to be assured that they are receiving the prescribed dosage of oxygen where it is need the most and troubleshooting equipment problems over the phone with the oxygen supplier preventing an on-site service call. Without the Oxyview-Cannula, patients cannot confirm oxygen flow nearest to them, nor can they actually be assured that the equipment is functioning properly. "The new Oxyview-Cannula should improve home oxygen therapy and decrease costs associated to unnecessary service calls," stated Chris Wirth, COO of Ingen Technologies.
The nasal cannula (NC) is a device used to deliver supplemental oxygen to a patient or person in need of extra oxygen. This device consists of a plastic tube which fits behind the ears, and a set of two prongs which are placed in the nostrils. Oxygen flows from these prongs. The nasal cannula is connected to an oxygen tank, a portable oxygen generator, or a wall connection in a hospital via a flow meter. The nasal cannula carries 1-6 liters of oxygen per minute. There are also infant or neonatal nasal cannulas which carry less than one liter per minute; these also have smaller prongs. The oxygen fraction provided to the patient ranges roughly from 24% to 35%. The nasal cannula was invented by Wilfred Jones and patented in 1949 by his employer, BOC.
The company has been selling Oxyview as an individually packaged respiratory product, and has now developed a disposable and more affordable Oxyview flow meter that will be attached and prepackaged to a variety of nasal cannula products. The company will sell the new Oxyview-Cannula under the Ingen logo. The potential market size for the new Oxyview-Cannula is approximately $200M per year in the US and $150M per year outside the US.
"The new disposable Oxyview-Cannula should revolutionize the home oxygen therapy market worldwide. There is nothing else in comparison, and Ingen will sell the new nasal cannula at competitive prices starting this month," stated Scott Sand, CEO and Chairman 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 troubleshoot 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.
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