Tag: Inogen

WASHINGTON – AAHomecare has launched a survey to learn what education topics would be most beneficial to an HME company’s livelihood and operations.   The association will use the results of the survey to help shape a curriculum featuring respected thought leaders from the HME Industry and beyond that addresses pressing concerns.  “In a recent industry survey, nearly 250 HME professionals nationwide shared business pain points revealing critical challenges impacting...

GOLETA, Calif. – Inogen has named Mike Sergesketter as interim CFO, effective immediately, a role he previously held between December 2021 and March 2022. He has also served as CFO of Kimball Electronics. Sergesketter succeeds Kristin Caltrider, who has stepped down for personal reasons. “I would like to thank Kristin for her contributions to Inogen and share my optimism for the future of the company as we continue our strategic evolution to become a more prominent player in respiratory...

 GOLETA, Calif. – Inogen’s new strategy is taking longer than expected, says CEO Nabil Shabshab, resulting in “disappointing” financial results for the second quarter, especially for its direct-to-consumer sales channel.  The company reported $26.8 million in DTC sales for the quarter compared to $40.6 million for the same period last year.  “While we have made progress with the execution of our commercial strategy, we are disappointed with the performance...

GOLETA, Calif. – Inogen has been named a finalist in the Diversity, Equity & Inclusion Commitment category of Ragan’s CSR & Diversity Awards Program for its FreshAir@Inogen campaign. The campaign, which was launched in June, is led by the company’s internal Diversity, Equity, Inclusion, Belonging & Accessibility Taskforce. The taskforce established a vision and principles to guide their work as they tackled modernizing benefit plans, improving selection processes, ensuring equitable...

MELVILLE, N.Y. - Henry Schein, a provider of health care solutions to office-based dental and medical professionals, has signed an agreement to acquire a majority ownership position in Shield Healthcare, a provider of medical supplies with net sales of about $180 million in 2022.  Henry Schein, which acquired Prism Medical, also a provider of supplies, in 2021, says its acquisition of Valencia, Calif.-based Shield Healthcare will advance its continuum of care delivery model.  “As...

GOLETA, Calif. - Inogen reported total revenue of $83.6 million for the second quarter of 2023, a 19% decrease compared to the prior year, as higher rental revenue and domestic business-to-business sales were more than offset by declines in direct-to-consumer sales and international B2B sales.  It reported a net loss of $9.8 million vs. $3.4 million.  “While disappointed in our second quarter performance, we remain focused on driving execution behind our commercial strategy...

GOLETA, Calif. – Inogen has launched the Rove 6 portable oxygen concentrator in the United States with an eight-year expected service life. The company launched the Rove 6 in Europe in December. Inogen has also extended the eight-year expected service life to its Inogen One G5 POC in the United States. “In capital-based business models it is critical to maximize the value of the devices you invest in to enhance your returns,” said Nabil Shabshab, president and CEO. “We are...

GOLETA, Calif. - Inogen has entered into a definitive agreement to acquire Physio-Assist SAS, a privately held company based in France that makes a technology-enabled airway clearance device called Simeox, for $32 million.  Simeox has been cleared under CE mark in the EU and is currently being sold in Europe, Asia and the Middle East.  “This acquisition aligns with our strategy to diversify our portfolio to globally improve patient lives through respiratory care,” said...

GOLETA, Calif. - Inogen has entered into a definitive agreement to acquire Physio-Assist SAS, a privately held company based in France that makes a technology-enabled airway clearance device called Simeox, for $32 million.  Simeox has been cleared under CE mark in the EU and is currently being sold in Europe, Asia and the Middle East.  “This acquisition aligns with our strategy to diversify our portfolio to globally improve patient lives through respiratory care,” said...

GOLETA, Calif. – Inogen’s 10.2% decrease in total revenues for the first quarter of 2023 was impacted, in part, by HME provider customers tightening their belts, but the company is making progress winning them over with its value proposition, says CEO Nabil Shabshab.  The company reported sales revenue of $55.8 million for the first quarter of 2023 compared to $67.4 million for the same period in 2022, about a 17% decrease.  “There were some challenges in the business-to-business...