CALIMESA, Calif., April 3 /PRNewswire-FirstCall/ -- Ingen Technologies, Inc. , a medical device manufacturer and developer of next generation medical technology, announced today a declaration of intent to enter negotiations for a strategic private label of OxyView between NEOTECH Products, Inc. and Ingen Technologies, Inc. This would add an additional potential $10M-$15M in annual OxyView sales.
The anticipated collaboration follows discussions between senior officers of both companies to further develop a private label distribution of OxyView under the NEOTECH brand name. Ingen Technologies is emerging as a major force of innovative medical products to enable cost reduction and quality assurance within various medical sectors.
NEOTECH, in turn, has developed a 20 year distribution product line in over 90% of the hospitals in the United States. The leaders in pulmonary supplies for hospitalized premature babies, NEOTECH has an established product base, inclusive of oxygen cannula products for newborns. All of the products are disposable (throw away), and NEOTECH has requested that Ingen provide the OxyView along side the NEOTECH products.
Currently, many premature babies require specialized oxygen delivery procedures. The OxyView provides the clinical staff as a valuable device that enables assurance of flow-rate and pressure near the cannula. NEOTECH’s Medical Director, Arnold Heyman, MD contacted Scott Sand, Chairman & CEO of Ingen Technologies to request a special meeting to discuss distribution options for the baby medical market. The Valencia-California based NEOTECH Products, Inc. has become the recognized leader in pulmonary cannulas for newborns, and infants. “This is an exciting opportunity for Ingen to collaborate with NEOTECH and open a new market that we had not expected,” said Scott Sand, Chairman & CEO.
The company continues to move closer to finalizing other large distributors of the OxyView product. “We should have some more very good news from other distributors in the coming weeks ahead,” said Chris Wirth, Director.
About Ingen Technologies, Inc.
Ingen Technologies, Inc. develops and markets cutting-edge medical technologies designed to increase accuracy of medical care, and prevent unnecessary medical costs associated with today’s healthcare. Ingen is a medical device manufacturer and a growth-oriented company that owns 2-US patent(s) and 1-Patent Pending, trademarks, intellectual property and proprietary medical products. The Secure Balance(TM) product generates profitable revenues for the company, and is a private-label product that includes a vestibular function testing system and balance therapy system that can identify and prevent fall injuries in the ever growing elderly population. The Company’s flagship product, OxyAlert(TM), a second-generation design of the Company’s BAFI(TM) product line provides a low-oxygen safety warning devices used on remote oxygen cylinders for patients, hospitals, commercial aircraft, military transport, and fire and safety equipment. OxyAlert(TM) technology encompasses the use of digital sensing and RF frequency transfer so that care givers can access a hand-held remote to monitor the actual oxygen level of any oxygen cylinder at a reasonable distance. OxyAlert(TM) increases safety and convenience for patients and clinical staff. OxyView, Patent Pending and FDA registered, is a pneumatic gauge that provides visual monitoring of oxygen flow-rate for patients (young and old) in the hospital, surgical room, outpatient therapy, nursing homes and emergency response facilities. This product enhances the safety, assurance and accuracy of patients being administered oxygen from any source. OxyView(TM) is a lightweight pneumatic gauge that is attached to the oxygen tubing just below the neck. It informs the nursing staff of the oxygen flow rate near the patient and cannula. It could quickly inform the physician or technician of any leak or inaccuracy between the delivery source and the cannula.
For more information, visit www.ingen-tech.com Investor Relations Contact: Scott R. Sand, C.E.O & Chairman Ingen Technologies, Inc. - Administrative Office 35193 Avenue “A”, Suite-C Yucaipa, California 92399 Phone: (800) 259-9622 or (909) 790-7180 Fax: (800) 777-1186 or (909) 795-6340 Email: Info@ingen-tech.com A Member of the Better Business Bureau A Member of the Chamber of Commerce A Licensed Business in the City of Yucaipa
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements that are made pursuant to “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. 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 will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
Ingen Technologies, Inc.
CONTACT: Investor Relations, Scott R. Sand, C.E.O & Chairman of IngenTechnologies, Inc. - Administrative Office, +1-800-259-9622, or+1-909-790-7180, or fax +1-800-777-1186, or +1-909-795-6340,Info@ingen-tech.com
Web site: http://www.ingen-tech.com/
