Inogen Recognized as One of the Fastest Growing Companies in North America According to Deloitte's 2014 Technology Fast 500(TM)
Attributes 605% Revenue Growth Between 2009 and 2013 to Disruptive Technology and Unique Business Model
GOLETA, Calif., Nov. 13, 2014 (GLOBE NEWSWIRE) -- Inogen, Inc. (Nasdaq:INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced it was included on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Inogen grew revenue 605% between 2009 and 2013.
Inogen's chief executive officer, Raymond Huggenberger, credits disruptive technology and a unique business model with the company's 605% revenue growth. He said, "We have designed our products as well as our company from the ground up to increase the freedom and independence of oxygen therapy patients. We believe we have developed disruptive and patient preferred products that, combined with our unique direct-to-consumer business model, has resulted in significant demand for our solutions."
"The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015."
"For 20 years, the Deloitte Fast 500 rankings have honored the innovation that is part of these companies' DNA," added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. "We're glad to be serving these high-growth companies, and helping the technology sector recognize the great strides and transformation these companies are making in their respective areas."
In addition to Deloitte's Technology Fast 500™, Ali Bauerlein, Inogen's CFO, has recently been awarded with personal accomplishments such as: Entrepreneur of the Year by Goleta's Finest and Stars of the 101 Women in Business by the Association for Corporate Growth 101 Corridor.
About Deloitte's 2014 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.
Inogen has used, and intends to continue to use, its Investor Relations website, www.inogen.com/investor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit www.inogen.com/investor.
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 concerning or implying future financial performance or trends and growth opportunities affecting Inogen. 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, risks that Inogen will not realize anticipated revenue and that future results could be materially different from any future results expressed or implied by these forward-looking statements. In addition, Inogen's business is subject to numerous additional risks and uncertainties, including, among others, risks related to reduced reimbursement rates in connection with the implementation of the competitive bidding process under Medicare and the new Centers for Medicare & Medicaid Services rules; the possible loss of key employees, customers, or suppliers; Inogen's 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; risks associated with international operations; 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, including Inogen's Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, which is expected to be filed on or around November 12, 2014. 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.
CONTACT: Investor Relations Contact: email@example.com 805-562-0500 ext 7 Media Contact: Byron Myers 805-562-0503
Released November 13, 2014