Inogen accelerates entry in China 

GOLETA, Calif. – Inogen has entered into a strategic collaboration with Jiangsu Yutue Medical Equipment & Supply Co. (Yuwell) to broaden its product portfolio through distribution of certain respiratory products in the United States, expand and enhance its innovation pipeline through joint R&D efforts and accelerate its entry into the Chinese market. 

As part of the collab, Yuwell, which generated more than $1 billion in revenue in 2023, has also agreed to invest about $27.2 million into Inogen, representing a 9.9% common equity interest. 

“The collaboration with Yuwell is a pivotal step in accelerating Inogen's growth trajectory,” said Kevin Smith, president and CEO of Inogen. “By expanding our product portfolio, global presence and enhancing our innovation pipeline, we expect to be well-positioned to capture new market opportunities. This collaboration supports our commitment to delivering long-term value to our shareholders and reinforces our vision of establishing Inogen as a platform for best-in-class respiratory solutions for patients across the globe. We are confident that our collaboration with Yuwell will play a crucial role in our continued success." 

The collaboration agreement is effective immediately. Yuwell’s equity purchase is expected to close during the first quarter of 2025, subject to certain customary closing conditions. 

Yuwell has a broad portfolio across respiratory treatment, diabetes management, electronic diagnostic products, first aid solutions and rehabilitation, among other areas. It has nine state-of-the-art R&D centers and seven advanced product facilities, with a global presence that spans more than 100 countries and supports more than 300,000 health care institutions. 

“Inogen is a leader in the respiratory therapy market and our strategic collaboration provides both parties with the ability to broaden their geographic reach and further meet patient needs across the world,” said ALex Wu, chairman of Yuwell. “Yuwell shares Inogen’s commitment to developing and providing innovative, quality products and we believe that together we can make a meaningful difference in the lives of respiratory patients. Together, Yuwell and Inogen aim to define the next generation of respiratory products.”