Press Release Summary:
Attached to oxygen tubing just below neck, disposable OxyView(TM) accurately measures oxygen flow-rate close to patient, allowing medical staff to quickly determine any malfunction of oxygen flow between source and patient. Pneumatic, analog gauge can be used with any oxygen delivery source and has additional uses in aviation, fire fighting, and military.
Original Press Release:
Ingen Technologies, Inc. Introduces OxyView(TM) to Medical Markets
- Forecasted New Revenues of $14M Per Year for IGTG -
CALIMESA, Calif., Jan. 3 /-- Ingen Technologies, Inc. , a medical device manufacturer of OxyAlert(TM), OxyView(TM), and Secure Balance(TM), announces that OxyView(TM) is complete and will be ready to be sold to medical markets worldwide in February 2006.
OxyView(TM) is a proprietary medical product with a US Patent Pending that provides a greater certainty of assurance and accuracy of oxygen flow-rate for patients using oxygen during surgery, hospitalization, and outpatient oxygen therapy. OxyView(TM) is a disposable pneumatic analog gauge that accurately measures the oxygen flow-rate close to the patient. It allows the medical staff and patient to quickly determine any malfunction of oxygen flow-rate between the source and the patient. OxyView(TM) can be used with any oxygen delivery source and has additional markets in aviation, fire fighting, and military.
"There are over 5,000 oxygen canula's used everyday in hospitals and surgical rooms, and over 8M patients using oxygen as outpatient therapy for a variety of pulmonary diseases. The hospitals and surgical staff are required to dispose of the units per OSHA regulations. OxyView(TM) is a product that is clean-packaged and disposable," said Chris Wirth, Director of Ingen Technologies.
OxyView(TM) retail pricing will start at $14.95 per unit. With the most current interest in distribution and strategic advertising, the Company anticipates penetrating 10% of the market throughout the year of 2006. This allows for $2.8M sold to hospitals and surgical facilities, and another $12M sold to oxygen suppliers/medical supply chains for patients using outpatient oxygen therapy during the first year. With the enthusiasm and demand the market has displayed towards the OxyView(TM) product, potential sales over the next 3 years could be as much as $40M per year for the Company.
"The elderly population will double and than triple over the next 10 years. The majority of pulmonary diseases reside within our elderly population over 55. OxyView(TM) is available to all patients of any age. With the increasing problems of malpractice law suits, OxyView(TM) provides additional means to assist with the prevention of various medical malpractice issues related to oxygen therapy and provides a means to assure proper and accurate oxygen delivery to all patients. The company provides investors and shareholders increasing revenues proportionate to the increasing demand of our medical products in relation to the growth of our elderly population," said Scott Sand, CEO & Chairman.
The OxyView(TM) information is available on the Company website.
About Ingen Technologies, Inc.
Ingen Technologies, Inc. is a public company trading under NASDAQ OTC:IGTG, which has been in business since 1999. IGTG is a medical device manufacturer and a growth-oriented company that owns US patent(s), trademarks, and proprietary medical products.
The Company's flagship product is OxyAlert(TM), a second-generation design of the Company's BAFI(TM) product line. Both of these products have been issued two US Patents: Patent No. 6,137,417 issued on October 24, 2000 and Patent No. 6,326,896 issued on December 4, 2001. Both of these products are low-oxygen safety warning devices used on remote oxygen cylinders for patients, 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.
The newest product, OxyView(TM), has a patent pending, and is a pneumatic gauge that provides visual safety warning of oxygen flow to hospitalized patients. This product enhances the safety, assurance and accuracy of hospitalized 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 oxygen flow rate near the patient. It could quickly inform the hospital staff of any leak or inaccuracy between the delivery source and the patient.
The Secure Balance(TM) product is a private-label product that includes a vestibular function testing system and balance therapy system. The vestibular function testing system is manufactured by Interacoustics LTD. in Denmark and is referred to as the VNG. The balance therapy system is manufactured by SportKAT(R), Inc. in San Diego, California. The Secure Balance(TM) program provides equipment, education and training about balance and fall prevention to physicians and clinicians worldwide.
The Pure Produce(TM) product is a continuing research & development program currently under design. This program uses hydroponics technology to grow various plants without the use of soil, fertilizer and water consumption. The Company anticipates entering the nutriceutical and pharmaceutical markets over the next two years.
"Our team of professionals has developed our medical products for the ever-increasing elderly population. Our products are superior to any of our competition and they allow for effective medical product availability to seniors, and at the same time the increasing senior population allows for a steady growth in sales and profits," said Scott Sand, CEO & Chairman of Ingen Technologies.
For more information, visit www.ingen-tech.com
CONTACT: Scott R. Sand, C.E.O & Chairman of Ingen Technologies, Inc., +1-800-259-9622, or fax, +1-800-777-1186, Info@ingen-tech.com