YUCAIPA, Calif., Oct. 14, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. , a leading Global Medical Device manufacturer focused in the $4 billion Respiratory Market for the growing ageing and emerging markets for Home (DME), Hospital and Aviation Industries, announced today that the company has received a proposal from a leading manufacturer to help reduce production costs and material costs by 50% for the manufacture of the Oxyview and the Oxyview Nasal Cannula.
As a part of improving product quality in large production, and reducing material and production costs to be more competitive in the respiratory marketplace, the company has received a proposal from a leading respiratory equipment manufacturer based in Pomona-California. The company CEO, and some of the management staff received a proposal on Wednesday last week to manufacture both the Oxyview and the Oxyview Nasal Cannula at 50% of the original costs from its current manufacturer and supplier. On Friday last week, they had a meeting in Pomona with the new manufacturer to discuss the new manufacturing and distribution of Oxyview and the new Oxyview Nasal Cannula.
“Now that we are selling our respiratory products, and sales have escalated, we must reduce our cost of goods sold in order to increase our profit margins and decrease the costs to our dealers and buyers. This change will give the company a stronger foot-hold in the market. We have a proprietary product and there is nothing in the marketplace that can compete with our device. We have gained support for all sectors of our industry, inclusive of leading respiratory equipment manufacturers, clinical foundations and more important, our shareholders,” stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://www.ingen-tech.com/
About Ingen:
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 32 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. Jeff Morgan 909-790-7180 info@ingen-tech.com www.ingen-tech.com
