Ingen Technologies, Inc. Press Release Retraction
A press release was mistakenly issued on January 23, 2008, announcing anagreement between Ingen Technologies, Inc. and Lincare, Inc. (Nasdaq: LNCR)This is in fact NOT the case at this time. Lincare had simply authorized Ingenas a vendor and authorized Ingen to communicate the Oxyview(R) product to allof their locations through the form of several email communications betweenLincare and Ingen. Lincare provided Ingen with the Lincare Locations List inXcel format. Lincare delivered six purchase orders to purchase a variableamount of Oxyview(R) product from Ingen. There was no written agreementbetween Lincare and Ingen. There was an understanding between both partiesregarding Oxyview(R) pricing and the fact that Lincare authorized Ingen as avendor to sell Oxyview(R) and communicate directly to more than 1000 Lincarelocations. To date, Ingen fulfilled its delivery obligations to Lincare inregards to all of the purchase orders. Ingen understood that Lincare providesservices to more than 500,000 patients in the United States. Historically,patients purchasing Oxyview(R) direct from Ingen have purchased twoOxyview's(R), one for their remote oxygen delivery system, either liquid orgas, and one for their in-home concentrator which is a stationary system thatproduces oxygen from ambient air. This would account for the possibility of 1MOxyview's(R). Further, there are new oxygen therapy patients entering themarket every day, which would account for additional possibilities to placemore Oxyview(R) product.
The officials at Ingen Technologies regret any inconvenience due to thiserroneous announcement.
Oxyview(R) is a proprietary safety device that received FDA Classificationin 2006. This device provides additional confidence to any patient receivingoxygen. It allows the patient to confirm oxygen flow rate and delivery nearestthe patient, where it matters the most. Currently there are no other similardevices that offer this technology. Although there are gravity dependent flowmeters attached to most oxygen systems that monitor system flow rate, therewas nothing available that would attaché to the Oxygen tubing to confirmproper oxygen delivery near the patient. Oxyview(R) provides an improvedtechnology to enhance patient confidence and assurance of oxygen flow.Oxyview(R) monitors the oxygen flow the patient is receiving, and does notcompete with or replace the current flow meters that are monitoring oxygenflow rate the delivery system is producing. Most Oxygen tubing is 7 feet to30 feet in length, and the patient is too far away from the delivery source.Oxyview(R) allows convenience for the patient in offering a simple costeffective tool to provide visual flow rate next to the patient.
"When I received email authorization from Lincare early this month, weimmediately communicated our Oxyview(R) product to all of their locations in amatter of only a few days. We immediately received purchase orders andhundreds of telephone calls responding positively to our Oxyview(R) product.Unfortunately, we did not request Lincare's authorization of the Press Releaseof January 23rd, nor were we advised by Lincare of any of their policies priorthe Press Release; as such, Lincare abruptly terminated the relationship withIngen. I have provided several written apologies to the CEO of Lincare andother Lincare management requesting their consideration, with no success.However, we have received a few telephone calls from Lincare location managersrequesting information on how their patients can purchase the Oxyview(R)direct from Ingen. I have offered the Lincare patients the same low price thatwas established with Lincare. Lincare patients can purchase direct from Ingenif they call our office and make a request to purchase Oxyview(R)," statedScott Sand, Chairman and CEO.
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