Investors give Inogen $22 million
SANTA BARBARA, Calif. - A group of investors gave $22 million to Inogen in February, saying the manufacturer of portable oxygen concentrators is "at the forefront of a paradigm shift in home oxygen therapy." Inogen will use the funds to support new manufacturing capabilities and to expand into international markets. This latest funding was led by two first-time investors in the manufacturer, Denmark-based Novo A/S and Michigan-based Arboretum Ventures. In other news, Scott Wilkinson, a former Invacare exec, has joined Inogen as vice president of product management.