Reportedly, the home respiratory market is estimated to generate $6bn in annual sales, with oxygen cannulas accounting for about $500m per year. The size of the market also continues to grow with more cases of COPD, a demographic increase in those over 65 years old, and a continued trend towards treatment of patients in-home as a low-cost alternative.

Ingen claimed that Smart Nasal Cannula improves patient care and reduces cost for oxygen providers. Oxyview is a cannula with an oxygen gauge that quantifies and confirms the flow of oxygen. Oxyview helps ease patient concerns and reduce home support calls.

Scott Sand, chief executive officer and chairman of the board, said: “These facts have created enormous opportunity for Ingen shareholders. A large sales contract is the next step to quickly ramp up revenues and net income. Lincare alone realized more than $1.4bn in revenues last year from oxygen and respiratory therapy services.

“They are one of several large companies that have potential for such a compelling value proposition. Potential contracts seem within reach for Ingen in the short term and have greater potential to be very lucrative for the long term.”