Inogen Announces FDA Clearance of Innovative Home Oxygen Concentrator
GOLETA, Calif., June 24, 2014 (GLOBE NEWSWIRE) -- Inogen, Inc. (Nasdaq:INGN) announced today that it has received FDA clearance for an innovative home oxygen concentrator called the Inogen At Home™.
The Inogen At Home™ is expected to be the lightest 5 liter per minute continuous flow oxygen concentrator on the market, when it is released for sale later this year. At approximately 18 pounds, the Inogen At Home™ will be more than 10 to 20 pounds lighter than current oxygen concentrators from leading manufacturers with equivalent flow capacity. Additionally, the Inogen At Home™ is expected to have the lowest power consumption of any 5 liter per minute continuous flow oxygen concentrator on the market, which should reduce the electricity cost for oxygen therapy patients. Other advancements made in the product include size and noise level reductions.
"Inogen set out to change the oxygen therapy market with our Inogen One family of products and in a similar fashion with the Inogen At Home™, we intend to change the perception of oxygen concentrators used in the home. We believe we have created a home concentrator with product attributes that will be patient preferred," said Raymond Huggenberger, Inogen CEO.
Inogen's release of the Inogen At Home™ combined with their award winning Inogen One family of products positions the company with a complete product portfolio able to fulfill the clinical requirements of most oxygen therapy patients. While the Inogen One product line is clinically validated for 24/7 use, the Inogen At Home™ gives Inogen a compelling solution for nocturnal-only oxygen therapy patients that do not yet require a portable solution, which are estimated to represent 30% of total oxygen patients in the United States.
The Inogen At Home™ is planned to be released for sale later this year.
Use of Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Inogen's new products, its plans, objectives, expectations and/or strategies relating to such new products, the field of at home oxygen equipment and potential developments in the at home oxygen equipment market. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including challenges inherent in developing, manufacturing, and launching new products. Information on these and additional risks affecting Inogen's business and operating results are contained in its filings with the Securities and Exchange Commission, including its most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2014. These forward-looking statements speak only as of the date hereof and Inogen disclaims any obligation to update these statements.
Inogen is innovation in oxygen therapy. We are a medical technology company that develops, manufactures and markets innovative oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
For more information, please visit www.inogen.com.
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Released June 24, 2014