Ingen Technologies, Inc. Opens Acquisition Possibilities During Growth Period
YUCAIPA, Calif., June 17, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News) a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing ageing population and emerging markets for Home (DME), Hospital and Aviation Industries announced today that the Board of Directors agreed to allow the company to explore various buy out possibilities.
"Our latest news regarding the recent debt reduction and expected profitability in our coming fourth quarter has opened doors with larger and proven successful publicly traded medical companies to acquire Ingen," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
"The company management has agreed to hire an Investment Banker to explore all potential offers to acquire the company. The company would only consider a buy out based upon the value of the assets, including the increased value in the patents and intellectual property," stated Thomas J. Neavitt, Chief Financial Officer.
About Ingen/Oxyview:
Ingen is an established medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the U.S., and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing U.S. and Foreign Patents and successful licensing with the Food & Drug Administration, and has commenced domestic and global distribution with manufacture representative organizations, and OEM partners. In addition to selling its respiratory products within the global medical industry, the company is selling the same products within other industries that include aviation, automotive, emergency response, military and government transportation. The company holds a Device Manufacturing License with the State of California, Department of Public Health, Food and Drug Branch as it manufacturers all of its respiratory products in the United States. There are 23 million U.S. patients with Chronic Obstructive Pulmonary Disease (COPD), and 600 million patients worldwide. Ingen Technologies is now the largest manufacturer of in-line gravity-independent oxygen flow meters.
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Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission. Contact:
Ingen Technologies, Inc. Chris Wirth 909-790-7180 info@ingen-tech.com www.INGEN-TECH.COM