Ingen Technologies Inc, a medical device manufacturer, announced today that it has engaged an Oxyview purchase agreement with the Lincare Corporation spanning the group’s more than 1000 locations in the US and representing a bumper deal for the company.
Lincare Corporation has been synonymous with state-of-the-art oxygen systems since 1965 and its reputation for 24-hour, seven-days-a-week responsiveness, expert service representatives, and professional staff testifies to its absolute commitment to provide the very best quality home respiratory service available. Lincare responds to the needs of every patient individually by providing the oxygen system most appropriate for the individual’s lifestyle.
Scott Sand, CEO and Chairman, said, “Lincare Corporation approved the US delivery of Oxyview on 16th January 2008. Since Thursday last week we have sent out a fax-blast to all of the Lincare locations, and recently started receiving the first 6 purchase orders for 6 of their locations. Each order is for 10 or more units. We are expecting to deliver over a million units each year to Lincare patients. This would represent more than $8m in annual revenues for Ingen Technologies.”
Lincare regularly monitors how well each respiratory patient follows the prescribed course of treatment, ensuring compliance with litre flow and hours of use. Regularly monitoring patient compliance increases the likelihood that patients will receive the maximum benefit from the prescribed therapy.
“Ingen has been fortunate enough to attract the interest and distribution power of the world's largest distributors of home oxygen supplies. Invacare Supply Group and Lincare Corporation represent over 95% of the US and World markets for respiratory care products. This affords the Company a channel to place Oxyview and OxyAlert with annual deliveries of over 20 million patients in the home setting and another 40 million patients in hospitals and skilled nursing facilities,” declared Thomas Neavitt, CFO.
Ingen Technologies Inc. is a medical device manufacturer certified through the Department of Health Services, and last year received FDA clearance, offering products for the respiratory markets.