Inogen Announces Reimbursement for the Inogen One G3 in France
GOLETA, Calif., Sept. 9, 2014 (GLOBE NEWSWIRE) -- Inogen, Inc. (Nasdaq:INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, announced today that the Inogen One G3 portable oxygen concentrator has received coverage for reimbursement within France.
The Department of Social Affairs and Health in France has added the Inogen One G3 to its list of reimbursable oxygen therapy products and services, as published in the Official Journal of the French Republic. According to the publication, the Inogen One G3 is classified under long-term oxygen therapy for ambulation and requires a physician prescription. In like manner, the Inogen One G2 portable oxygen concentrator received similar coverage in France in mid-2013.
"Inogen's mission to provide freedom and independence to oxygen therapy users is a global mission," said Raymond Huggenberger, Inogen CEO. "We're pleased with the decision by the French authorities to grant reimbursement coverage to the Inogen One G3 and by doing so, help improve access to innovative and independence restoring products for oxygen therapy users throughout France."
France is estimated to be the third largest market in Europe, according to a research report by Global Industry Analysts, Inc.
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 the Inogen One G3's receipt of coverage for reimbursement in France. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including, but not limited to, Inogen's ability to maintain regulatory approvals for the Inogen One G3 in the EU, risks relating to market acceptance of its products in the EU, and risks associated with international operations. In addition, Inogen's business is subject to numerous additional risks and uncertainties, including, among others, risks arising from the possibility that Inogen will not realize anticipated revenue; the impact of reduced reimbursement rates in connection with the implementation of the competitive bidding process under Medicare; the possible loss of key employees, customers, or suppliers; its ability to successfully launch new products and applications; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; interruptions or delays in the supply of components or materials for, or manufacturing of, its products; seasonal variations in customer operations; unanticipated increases in costs or expenses; and intellectual property risks if Inogen is unable to secure and maintain patent or other intellectual property protection for the intellectual property used in its products. Information on these and additional risks, uncertainties, and other information affecting Inogen's business and operating results are contained in Inogen's Annual Report on Form 10-K for the year ended December 31, 2013 and in Inogen's subsequent reports on Form 10-Q and Form 8-K. These forward-looking statements speak only as of the date hereof. Inogen disclaims any obligation to update these forward-looking statements except as may be required by law.
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 September 9, 2014