Inogen Recognized as One of the Fastest Growing Companies in North America According to Deloitte’s 2016 Technology Fast 500™
Achieved 227% Revenue Growth between 2012 and 2015
GOLETA, Calif.--(BUSINESS WIRE)-- 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 energy tech companies in North America. This is the third consecutive year that Inogen has been named to the list. Inogen grew revenue 227% between 2012 and 2015.
Inogen’s chief executive officer, Raymond Huggenberger, credits the revenue growth to the expanding awareness of the company’s innovative solutions as well as the strong growth across the company’s consumer and business sales channels. He said, "It is an honor to be named to Deloitte’s Technology Fast 500™ for the third year in a row. We believe that the awareness of our innovative oxygen concentrators continues to expand among oxygen therapy patients and homecare providers and that is a primary driver fueling our growth across all of our sales channels."
About Deloitte’s 2016 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.
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, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Inogen has used, and intends to continue to use, its Investor Relations website, http://investor.inogen.com/, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit http://investor.inogen.com/.
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 awareness of Inogen’s products and the effect of such awareness on 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, 2015 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, 2016. 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.
Investor Relations Contact:
805-562-0500 ext 7
Byron Myers, 805-562-0503
Source: Inogen, Inc.
Released November 16, 2016