The potential benefits of oxygen therapy are more likely to be realised now thanks to a recent credit award from venture capital, Square 1 Bank.
Just yesterday entrepreneurs’ friend and venture capital firm, Square 1 Bank, announced the extension of a $6m credit facility to the oxygen therapy company, Inogen, Inc.
Recipient firm, Inogen, specialises in cost effective respiratory home healthcare equipment which prioritises patient quality of life as well as efficiency for homecare providers.
Raymond Huggenberger, CEO of Inogen explained the firm’s motivation for the deal, he said, “Due to Inogen’s growth, we needed a financial partner that takes the time to understand our unique business needs and who can grow with the company to help us jointly increase the freedom and independence of oxygen therapy users.”
Square 1 Bank was equally positive about the investment, Chris Woolley, EVP of Venture Banking for the company explained, “We are confident in the company’s ability to execute on an impressive new business model. In our commitment to fuel innovation, we are pleased to help grow a pioneering business like Inogen and be a long-term partner. Their strong investors and management team will no doubt continue to scale the business.”