Tag: Inogen
Respiratory supply chain stabilizes
March 15, 2024HME News Staff
In the four years since the COVID-19 pandemic began, the respiratory market has been “on a rollercoaster” with supply chain challenges. Now, with the virus less of a threat, the situation has stabilized, manufacturers say.
“We are seeing the supply chain environment return to (previous) levels and have maintained a 98% on-time delivery status in 2023,” said Kevin Smith, CEO of Goleta, Calif.-based Inogen. “Our manufacturing facility in Plano, Texas, has undergone...
Inogen CEO sees ‘room for improvement’
March 1, 2024HME News Staff
GOLETA, Calif. – Inogen CEO Kevin Smith has spent his first few months on the job “observing and reflecting” on the company’s business model and has begun to make changes to return it to “sustained profitability.”
Smith, who came onboard in November, told investors during a Feb. 27 conference call that Inogen is no longer working with a third party for sales reps for its prescriber channel. The company began scaling its prescriber channel in the first...
Inogen reports decreases, but plans for growth in 2024
February 28, 2024HME News Staff
GOLETA, Calif. – Inogen reported $75.9 million in revenue for the fourth quarter of 2023 compared to $88.1 million for the same period in 2022, primarily due to a decrease in domestic business-to-business sales and direct-to-consumer sales, partially offset by higher rental revenue.
The company reported $315.7 million in total revenue for full-year 2023 compared to $377.2 million in 2022, primarily due to declines in direct-to-consumer sales, as well as domestic and international business-to-business...
In brief: Fraud bill, LCD for prostheses, diamond anniversary
January 26, 2024HME News Staff
WASHINGTON – Sens. Mike Braun, R-Ind., and Bill Cassidy, R-La., have introduced legislation to target irregular billing for certain DME and other diagnostic products in the Medicare program.
The “Medicare Transaction Fraud Prevention Act” directs CMS to create a two-year pilot to oversee Medicare-covered purchasing of DME and other diagnostic testing related products for the 5% of beneficiaries that already receive electronic notices.
The bill, which would ask...
Inogen appoints new CFO
January 25, 2024HME News Staff
GOLETA, Calif. – Inogen has named Michael Bourque as CFO effective March 4. Bourque has served since 2021 as treasurer and CFO of Chase Corporation, now owned by KKR & Co. Prior to that, he served as CFO of Keystone Dental, and senior vice president, CFO and treasurer of Analogic Corporation from 2014 to 2018. “I am incredibly excited to announce Michael as the new chief financial officer of Inogen,” said Kevin Smith, president and CEO. “His experience building best-in-class...
Inogen names chief commercial officer
January 9, 2024HME News Staff
GOLETA, Calif. – Inogen’s board of directors has named Gregoire Ramade as chief commercial officer. Most recently, he served as the company’s senior vice president of international sales from November 2023. Prior to that, he was the senior vice president and chief commercial officer of Vapotherm from October 2020 to October 2023 and vice president, international sales and worldwide marketing, since May 2016. Ramade’s experience also includes a stint at Philips Respironics:...
In brief: Reimbursement relief is in play & ResMed, Inogen shake up exec teams
November 15, 2023HME News Staff
WASHINGTON – Two industry related bills will be considered by the Health Subcommittee today, Nov. 15, according to AAHomecare.
The subcommittee, part of the Energy & Commerce Committee in the U.S. House of Representatives, will consider:
H.R. 5555, a bill that would extend the 75/25 blended Medicare reimbursement rates in non-competitive bidding areas and provide a 90/10 blended rate in bid areas; and
H.R. 5371, a bill that would allow an upgrade within a code for...
Inogen replaces CEO
November 13, 2023HME News Staff
GOLETA, Calif. - Inogen’s board of directors today, Nov. 13, appointed Kevin Smith as president and CEO effective immediately, succeeding Nabil Shabshab.
Smith, who will also be a member of the board, brings more than 20 years of commercial leadership experience in the medical device industry, including respiratory care and DME businesses, and has a history of success in executing value-creating transformations across organizations. He most recently served as CEO at Sirtex Medical,...
Inogen cites progress amid revenue declines
November 10, 2023Liz Beaulieu, Editor
GOLETA, Calif. – Inogen continues to address lingering headwinds and refine its strategy to, ultimately, position itself for a more productive 2024, said CEO Nabil Shabshab during a recent conference call.
The company reported revenues were $17.3 million for its domestic business-to-business channel in the third quarter, a 59.4% decrease year over year.
“We recognized revenue of $17.3 million, which was impacted by residual headwinds to our business from the share loss...
Inogen seeks return to revenue growth
November 8, 2023HME News Staff
GOLETA, Calif. – Inogen reported total revenue of $84 million for the third quarter, a 20.3% decrease from the same period last year.
The company says that strong growth in rental and international business-to-business sales was more than offset by lower domestic business-to-business sales and lower direct-to-consumer revenue, as it focuses on optimizing commercial investments and driving sales representative productivity.
“We have continued to improve on executing...