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Ingen reviews proposal to allow Tokibo to represent Oxyview, Oxyalert in Asia
By E. Janene Geiss
Philadelphia, Jan. 31 - Ingen Technologies, Inc. said Tuesday that the company has received a proposal from the Tokibo Group to represent the OxyView, OxyAlert and Secure Balance in Asia.
The company said there is a $15 million market for the products in Asia, according to a company news release.
The Tokibo Group is a conglomerate of seven companies. Two of the companies, TKB International, Inc. and Newport Medical Instruments, Inc., are located in Costa Mesa, Calif., officials said.
Tokibo is the largest independent medical device distributor in Japan and the partner of many prominent U.S. companies such as Cardinal Health, Welch Allyn, Vital Signs and Newport Medical Instruments, officials said.
Tokibo Co. Hong Kong Ltd. is the distributor in Hong Kong and mainland China for many of the same companies, officials said.
"We believe that there would be a great deal of synergy between our existing product portfolio and Ingen's products and that our installed base of customers would enable us to ramp up sales quickly and steadily," Elizabeth Sanborn, vice president of business development for TKB International, Inc., said in the release.
In addition, Ingen said it is working toward completing all necessary SEC filings to move to the OTC Bulletin Board.
"With the increase in share price, revenues and profits ... I look forward to establishing OxyView revenues to strengthen our capital structure and build earnings and value for our shareholders and their investment in Ingen," Scott Sand, chairman and chief executive officer of Ingen, said in the release.
Ingen is a Calimesa, Calif., medical device manufacturer and a growth-oriented company that owns U.S. patents, trademarks and proprietary medical products. The company's flagship product is OxyAlert, a second-generation design of the company's BAFI product line.
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