GOLETA, Calif., June 12, 2015 (GLOBE NEWSWIRE) -- Inogen, Inc. (Nasdaq:INGN), a medical technology company offering innovative respiratory products for use in the home care setting, announced today that it has been honored as the Company of the Year at the South Coast Business & Technology Awards. Inogen was presented with the award last evening at a ceremony attended by more than 700 people. The event has grown to be the region's largest annual gathering of business and technology leaders.
"The prestigious Company of the Year award is given to a company that is a market leader as demonstrated by its profitability, business development, and completion of its strategic objectives," said the SCB&T Steering Committee Co-Chair, Susan Rodriguez. "The South Coast Business & Technology Awards Steering Committee is pleased to shine a spotlight on Inogen for its product innovation and revenue growth, and positive impact on the economic vitality of the South Coast of Santa Barbara County."
For the past fourteen years, proceeds from the annual South Coast Business & Technology Awards have benefitted the Scholarship Foundation of Santa Barbara, the nation's largest community scholarship provider. The South Coast Business & Technology Awards Scholarship Fund grants scholarships to local students studying business and technology-related subjects at Santa Barbara City College, University of California Santa Barbara, and Westmont College. To date, the fund has distributed almost 690 awards totaling more than $1.6 million.
"Inogen is honored to receive the prestigious Company of the Year award this year," said Co-Founder and Chief Financial Officer, Alison Bauerlein. "Throughout the formation and growth of the Company, Inogen has benefitted from our tremendous local community. We are proud to serve as a significant employer in the region and also support programs mentoring new entrepreneurs."
Inogen has used, and intends to continue to use, its Investor Relations website, www.inogen.com/investor, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit www.inogen.com/investor.
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.
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, among others, statements concerning or implying Inogen's future growth prospects, product innovation and impact on economic vitality. 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 arising from the possibility that Inogen will not realize anticipated growth; the impact of reduced reimbursement rates, including in connection with the implementation of the competitive bidding and the newly released Center for Medicare and Medicaid Services (CMS) rules; the possibility that Inogen's business growth will not be sufficient to support headcount expansion; and challenges related to improving asset utilization. In addition, Inogen's business is subject to numerous additional risks and uncertainties, including risks related to the recently filed securities litigation pending against Inogen in United States District Court for the Central District of California. Information on certain of these 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, 2014 and in Inogen's subsequent reports on Form 10-Q and Form 8-K. 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.
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