Ingen Technologies Acquires US Patents
Tuesday July 12, 7:00 am ET
- Adds Both Value and Control to IGTN -
CALIMESA, Calif., July 12 /PRNewswire-FirstCall/ -- Ingen Technologies (OTC: IGTN - News), a medical device manufacturer of OxyAlert(TM) and Secure Balance(TM) has acquired and owns the rights to two US Patents.
Pursuant to a PATENT RIGHTS PURCHASE & SALE AGREEMENT dated July 11, 2005, the Company has purchased US Patent No. 6,326,896 and 6,137,417. The Company now owns rights to the proprietary medical technology. As a part of the purchase agreement, the Company retired the Licensing Agreement for said patents. "These are two very strong patents that add both value and control to the Company. Our engineers have had to invent the technology to measure gas flow and wireless transmission of data in order to create a more reliable monitoring system for patients and care givers." Said Scott Sand, CEO & Chairman.
The value of these US Patent(s) exceed $1,000,000.00, and provides tremendous marketing strength for the OxyAlert(TM) and GasAlert(TM) product lines expected to hit the market this year. These specific US Patent(s) cover more than 20 applications and invented technologies that make it very difficult for any consideration of competition.
OxyAlert(TM) is expected to reach $30,000,000.00 in sales in its first year. With both medical and commercial applications, OxyAlert(TM) provides the safety, assurance and cost savings needed in today's industry.
About Ingen Technologies
Ingen Technologies (OTC: IGTN - News), in business since 1999, is a medical device manufacturer and service provider for medical and consumer markets both domestic and abroad. Increasing revenues are generated from the Company's Secure Balance(TM) program; a medical product line for physicians and hospitals that provide patient services for Balance & Fall Prevention programs. The OxyALERT(TM) is another product line that has two issued US Patents and is a proprietary technology. This product is the second generation development of the Company's initial BAFI(TM) product; a medical safety device that provides wireless and remote monitoring of oxygen delivery systems for patients and small aircraft. Using the same patented and proprietary technology, the Company has the GasAlert(TM) product; a device that interfaces between any gas line and accessory, such as a water heater, dryer, stove or heater, to detect leaks. This is a mass consumer item expected to go to market in 2005.
"Our team of professionals has developed our medical products for the ever increasing elderly population. Our products are superior to any of our competition and they allow for effective medical product availability to seniors, and at the same time the increasing senior population allows for a steady growth in sales and profits"; said Scott Sand, CEO & Chairman of Ingen Technologies.
For more information, visit www.ingen-tech.com
Investor Relations Contact: Scott R. Sand, C.E.O & Chairman
Ingen Technologies, Inc.
285 E. County Line Road
Calimesa, CA 92320
800-259-9622
951-675-3266
800-777-1186 FAX
scottsand@ingen-tech.com
