Inogen Expands Its Respiratory Product Portfolio with Acquisition of Physio-Assist

Inogen, Inc. (Nasdaq: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced that the company has entered into a definitive agreement to purchase Physio-Assist SAS, a privately-held company headquartered in France.

Physio-Assist developed and manufactures Simeox, a technology-enabled airway clearance device with a proven efficacy and safety profile, currently used outside of the United States, to treat a condition in the lungs known as bronchiectasis, where the lung’s bronchi become damaged and widened, that is often present in cystic fibrosis and chronic obstructive pulmonary disease. Simeox is used in pulmonary rehabilitation centers, as well as at home. Simeox has been cleared under CE mark in the EU and is currently being sold in Europe, 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, President and Chief Executive Officer of Inogen. “Simeox imminently expands our product offering in EMEA, and potentially in the US to serve COPD and other chronic disease patients who suffer from bronchiectasis with an innovative, non-invasive, and next generation airway clearance solution. We believe this is a compelling transaction, as it expands our addressable market opportunity, enhances our long-term growth and profitability, and is expected to generate an attractive return on investment.”

“I am very excited about Physio-Assist becoming a part of the Inogen organization and view this as a significant milestone in the journey to scale the Simeox differentiated product offerings globally in service of bronchiectasis and cystic fibrosis patients with unmet needs,” said Adrien Mithalal, Chief Executive Officer of Physio-Assist.

Strategic Rationale

• Aligns with Inogen’s strategy to diversify its portfolio and expand market opportunities imminently in the rest of the world and potentially in the US.
• Aligns with Inogen’s long-term financial goals.
• Leverages Inogen’s commercial infrastructure and capabilities.
• Provides a differentiated and clinically proven innovative airway clearance technology with capital sales and desirable recurring revenue from disposables.
• Provides access potentially to a large growing bronchiectasis market opportunity with 400,000 to 490,000 patients in the US upon regulatory clearance.

Financial Details