YUCAIPA, Calif., July 6, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing aging population and emerging markets for Home (DME), Hospital and Aviation Industries, announced today that the company is interested in acquiring Comfort Medical Supply, Inc.
Comfort Medical Supply is located in Calimesa, California, and is a six year old business that provides medical equipment and supplies to the local area. Comfort Medical Supply has made a purchase offer of $39,000, with $100,000 of inventory and with annual sales of $200,000. Comfort Medical Supply has recently made improvements to the store for better visibility while the new shopping center nears completion. There is no debt and the sale will be finalized in 30 days. The company will acquire immediately receive the equity benefits and future opportunity of this acquisition.
"Ingen needs to take advantage of the various opportunities our economy has to offer while we have some excess cash to invest. Our research shows that there are thousands of small medical supply stores for sale due to changes in Medicare and economical changes. Our management believes that acquiring some of these smaller medical suppliers will allow us to better manage and improve sales as well as build the company asset base as a part of our plan to return as a reporting company and on the OTCBB," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
About Ingen Technologies/Oxyview:
Ingen is an established medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the U.S., and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing U.S. and Foreign Patents and successful licensing with the Food & Drug Administration, and has commenced domestic and global distribution with manufacture representative organizations, and OEM partners. In addition to selling its respiratory products within the global medical industry, the company is selling the same products within other industries that include aviation, automotive, emergency response, military and government transportation. The company holds a Device Manufacturing License with the State of California, Department of Public Health, Food and Drug Branch as it manufactures all of its respiratory products in the United States. There are 32 million US patients with Chronic Obstructive Pulmonary Disease (COPD), and 600 million patients worldwide. Ingen Technologies is now the largest manufacturer of in-line gravity-independent oxygen flow meters.
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