Inogen Archives - Medical Design Sourcing

Inogen has a new CEO

Kevin Smith [Image courtesy of Smith’s LinkedIn profile]Inogen (Nasdaq: INGN), which specializes in respiratory products for homecare, announced a change in the corner office today.

The company’s board of directors has named Kevin Smith as Inogen’s new president and CEO, effective immediately. Smith succeeds Nabil Shabshab, who started as CEO in 2021.

Smith has over two decades of experience in the medical device sector, including in respiratory care and durable medical equipment. His most recent role was CEO at Sirtex Medical, a manufacturer of interventional treatment solutions. He’s held senior roles at Sensium Healthcare, Teleflex, Hillrom Holdings and Zoll Medical.

“We believe we have tremendous opportunities to scale our business, drive operational efficiencies and accelerate our growth trajectory, and the board believes it is the right time for new leadership to improve performance and support Inogen’s next phase of its journe…

Inogen completes Physio-Assist acquisition

The Simeox system acquired by Inogen. [Image from Physio-Assist]Inogen (Nasdaq: INGN) announced today that it completed its previously announced acquisition of Physio-Assist.

Goleta, California-based Inogen announced its plan to acquire the French airway clearance technology developer in July. The deal includes a $32 million payment upfront and could reach up to $45 million in total.

Physio-Assist develops and manufactures its Simeox technology. Simeox, which currently has availability outside the U.S., is a technology-enabled airway clearance device. It treats bronchiectasis, where the lung’s bronchi become damaged and widened. It often occurs in cystic fibrosis and chronic obstructive pulmonary disease (COPD).

Pulmonary rehabilitation centers use Simeox, although it also offers in-home capabilities. The system has CE mark and other commercial availability in Asia and the Middle East. As a result of the closing of the deal, Inogen owns Physio-Assist now. I…

Inogen CFO steps down, interim replacement named

Inogen (Nasdaq:INGN) today announced that it named Mike Sergesketter as interim CFO after Kristin Caltrider stepped down.

Caltrider stepped down from the position, citing personal reasons. Her decision has no relation to any disagreements with the company or its management, operations, policies or practices. The company enlisted a leading executive search firm to begin the process of finding a permanent replacement.

Sergesketter takes on the interim post having previously assumed that role between December 2021 and March 2022. Before that, he served as CFO at Kimball Electronics.

“I would like to thank Kristin for her contributions to Inogen and share my optimism for the future of the company as we continue our strategic evolution to become a more prominent player in respiratory care,” said Nabil Shabshab, Inogen president and CEO. “Mike has brought value to Inogen as an accomplished CFO and partner to me, and I am pleased to welcome him back…

Inogen acquires French airway clearance tech developer Physio-Assist

The Simeox system acquired by Inogen. [Image from Physio-Assist]Inogen (Nasdaq: INGN) announced today that it entered into a definitive agreement to acquire Physio-Assist.

Physio-Assist, a France-based, privately-held company develops and manufactures its Simeox technology. Simeox, which currently has availability outside the U.S., is a technology-enabled airway clearance device. It treats bronchiectasis, where the lung’s bronchi become damaged and widened. It often occurs in cystic fibrosis and chronic obstructive pulmonary disease (COPD).

Pulmonary rehabilitation centers use Simeox, although it also offers in-home capabilities. The system has CE mark and other commercial availability in Asia and the Middle East.

“This acquisition aligns with our strategy to diversify our portfolio to globally improve patient lives through respiratory care,” said Nabil Shabshab, Inogen president and CEO. “Simeox imminently expands our product offering in EMEA, and po…

Inogen grows sales 13% in Q3

Inogen (Nasdaq:INGN) this week posted third-quarter results that beat the overall consensus on Wall Street.

The Goleta, California-based respiratory care company reported a loss of $9.5 million, or -42¢ per share, on sales of $105.4 million for the three months ended Sept. 30, for a sales growth of 13.19% compared with Q3 2021.

Adjusted to exclude one-time items, earnings per share were -18¢, 24¢ ahead of The Street where analysts were looking for sales of $97.72 million.

“I am pleased with the progress the team has made on our transformational journey. We fulfilled customer demand by overcoming supply chain challenges through extraordinary efforts, resulting in year-over-year double-digit revenue growth,” CEO Nail Shabshab said in a news release. “Our balance sheet remains strong and capable of driving our transformation. We are executing on our strategic initiatives, improving commercial productivity while building innovation programs that will enhance…

Inogen posts Street-beating Q2

Inogen (Nasdaq:INGN) shares are down today — a day after releasing Q2 results that beat the consensus forecast.

The Goleta, California–based respiratory care company posted losses of $3.4 million, or 15¢ per share, on sales of $103.4 million for the three months ended June 30, 2022, for a bottom-line slide into the red on sales growth of 1.8%.

Adjusted to exclude one-time items, losses per share were 2¢, 25¢ ahead of Wall Street, where analysts were looking for sales of $100.7 million.

“We delivered solid performance in the quarter driven by our ability to fulfill customer demand, while effectively managing supply chain challenges and macro headwinds,” Inogen President and CEO Nabil Shabshab said in a news release. “We are also seeing encouraging progress from our ongoing imperatives focused on strengthening the foundations of the company while simultaneously executing on our transformation. As we embark on the second half of the year, we are actively ma…

Inogen appoints Agnes Lee as senior VP of investor relations, strategic planning

Inogen (NSDQ:INGN) this week announced it appointed Agnes Lee as senior VP of investor relations and strategic planning, effective May 23.

Lee most recently served as VP of investor relations at Butterfly Network where she created an investor relations program to promote the company to analysts and investors. She also led investor marketing to reflect an evolution of the company’s vision and strategy.

“I am excited to welcome Agnes to the Inogen team as we continue to strengthen our strategic planning capabilities, further execute against our growth initiatives and communicate our strategy internally and externally, all with the overarching goal of transforming Inogen and driving shareholder value. Agnes brings extensive medical technology and life sciences experience and has an excellent track record in effective engagement with shareholders and analysts,” CEO Nabil Shabshab said in a news release.

Lee has held numerous leadership roles at Fluidig…

Inogen rises despite missed Q4 projections

Inogen (NSDQ:INGN) shares ticked up today on fourth-quarter results that came up shy of the consensus forecast.

INGN shares were up 6.9% at $32.01 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1.1%.

The Goleta, California-based company posted losses of $22.9 million, or $1.01 per share, on sales of $76.4 million for the three months ended Dec. 31, 2021, for a large bottom-line slide deeper into the red on sales growth of 3.3%.

Inogen’s losses per share of $1.01 came in 30¢ behind projections on Wall Street, where analysts were looking for sales of $76.6 million.

“Over the past year, our team has made steady progress to advance our overall strategy, working to expand our sales footprint in the prescriber channel and implement initiatives aimed at driving productivity of our overall commercial operations,” Inogen President and …

Inogen CFO stepping down, interim replacement named

Inogen (NSDQ:INGN) announced today that it appointed Mike Sergesketter as its interim chief financial officer.

Goleta, California-based Inogen said in a news release that Sergesketter — whose role as CFO was made effective today — most recently served as CFO of Kimball Electronics.

Sergesketter success Alison Bauerlein, who will remain on with Inogen in a transitional finance role through the first quarter of 2022. The company has enlisted an executive search firm to help with the hunt for a permanent replacement.

“I am grateful for the time and collaboration I have had with Ali and want to thank her for her many contributions as a key member of the team that launched and grew Inogen,” Inogen President & CEO Nabil Shabshab said in the release. “I wish her well in her future endeavors.”

Sergesketter has over 40 years of finance experience in the manufacturing services industry, having led the transformation of the finance and …

Inogen names chief technology officer

Inogen (NSDQ:INGN) this week announced that it has appointed Stanislav Glezer as chief technology officer.

Glezer will be responsible for R&D and engineering, medical affairs and regulatory affairs. He joined the company in June this year as chief medical officer and will remain an executive VP of the company.

Prior to joining the company, Glezer held numerous leadership roles at medical technology and biotechnology firms like BD, Adocia, Novo Nordisk and Sanofi.

Goleta, California-based Inogen also said that executive VP of engineering Brenton Taylor will leave the company following a transition period ending April 1, 2022.

“Since joining Inogen as chief medical officer earlier this year, Stan has made a significant impact in helping us instill clinically-informed discipline in innovation, product development practices and go-to-market strategy. In this new role, Stan’s deep background in clinical research, success in developing, commercializ…

MedTech 100 roundup: Significant uptick for industry

The up-and-down nature of the medtech industry continues to carry through 2021, with a recent dip now followed by a rapid ascent.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 11) at 109.63 points, producing a 2.5% rise from the 106.96-point mark set one week prior (June 4).

It provides a welcome sight after the industry’s progress came to a halt with a -1.4% dip the week before last. The index remains in a position to produce another upswing after demonstrating signs of picking up again when April brought the industry’s all-time best performance.

Even with setbacks that slowed the industry recently, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 18.8% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 76.5% increase from the mid-pandemic low…

Inogen appoints chief medical officer

Inogen (NSDQ:INGN) this week announced that it has appointed Stanislav Glezer as executive VP and chief medical officer, effective June 21.

Glezer joins the Goleta, Calif.-based company after a stint as worldwide VP of medical care for diabetes care at BD. Prior to BD, he served as chief medical officer at Adocia and has held numerous leadership roles within Novo Nordisk and Sanofi.

“On behalf of the board of directors, I would like to congratulate Stan on this appointment as I am confident that he will be a tremendous asset to Inogen and a great addition to our executive team. I believe that expanding our clinical expertise and evidence dossier in respiratory therapy will serve us well in our endeavors to drive our market development efforts to eventually increase the penetration of portable oxygen concentrators (POCs) in support of our growth strategy as well as help guide our innovation agenda,” CEO Nabil Shabshab said in a news release. “I belie…