Seasoned Leader Brings More than Two Decades of
Medical Device Experience and Proven Track Record of Driving Growth
and Organizational Transformation
Inogen, Inc. (NASDAQ: INGN), a medical technology company
offering innovative respiratory products for use in the homecare
setting, today announced that its Board of Directors has appointed
Kevin Smith as Inogen’s President and Chief Executive Officer and a
member of the Board of Directors, effective immediately, succeeding
Nabil Shabshab.
Mr. Smith brings more than 20 years of commercial leadership
experience in the medical device industry, including respiratory
care and durable medical equipment businesses, and a history of
success in executing value-creating transformations across
organizations. He most recently served as Chief Executive Officer
at Sirtex Medical Limited, a global manufacturer of interventional
treatment solutions, where he successfully implemented a profitable
growth strategy, including global expansion, and oversaw the
company’s business development strategy. Mr. Smith previously held
senior positions at Sensium Healthcare Ltd., Teleflex, Hillrom
Holdings and ZOLL Medical Corporation. Throughout his career, he
has developed extensive expertise strategically navigating
enterprises through market cycles, leading business turnarounds,
optimizing business channels, introducing new products, and driving
growth and international market expansion.
“Inogen is a global leader in portable oxygen therapy solutions,
with a large and growing market, and leading patient-centric
product portfolio,” said Elizabeth Mora, Chairperson of the Board.
“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 journey. With deep global medical device experience and a
strong track record of successful business transformations, we
believe Kevin is the right leader to capitalize on Inogen’s
potential. We look forward to benefitting from his expertise as we
seek to advance our commercial strategy, win new customers, and
drive sustainable, long-term value for our shareholders.”
Mr. Smith said, “I am honored to join Inogen, a company with a
strong brand, global reach, and purpose-led vision. I believe
Inogen has a solid foundation, with leading products, and
significant potential to make innovative respiratory solutions the
standard of care to improve patient health. I look forward to
working with the Board and entire team to drive growth, innovation,
and enhanced performance to create value for patients and our
shareholders alike.”
Ms. Mora added, “On behalf of the Board, I want to thank Nabil
for his service and contributions to Inogen. Nabil has helped
navigate Inogen through headwinds over the past few years, and we
wish him well in his future endeavors.”
The Company reaffirms its full year financial guidance
previously announced on November 7.
In light of the transition, the Company will no longer attend
the Stifel 2023 Healthcare Conference and the Piper Sandler 35th
Annual Healthcare Conference taking place later this month.
About Kevin Smith
Mr. Smith joins Inogen from Sirtex Medical Limited, a previously
ASX-listed leading manufacturer of interventional treatment
solutions, where he most recently served as Chief Executive Officer
since 2019. He originally joined Sirtex in 2017 as Executive Vice
President, Sales & Marketing for the Americas, and was
responsible for transforming the company’s business development
approach, implementing impactful commercial strategies for
sustained profitable growth, and leading Sirtex’s expansion into
Latin America.
From October 2015 to November 2016, Mr. Smith served as Chief
Commercial Officer at Sensium Healthcare Ltd., where he was
responsible for revising the growth strategy, and eventually
arranging a sale of the business to The Surgical Company. Earlier
in his career, Mr. Smith held a variety of leadership roles in the
global therapeutic and medical device industry, including a
seven-year tenure at Teleflex within the cardiac business unit,
where he served as Global Vice President of Sales and Marketing,
and eventually International Vice President of Sales and Marketing.
Key highlights of Mr. Smith’s tenure at Teleflex include leading
new product launches, driving sales channel optimization
initiatives and implementing strategies to improve gross margins
and profitability.
Mr. Smith earned an MBA in global management from the University
of Phoenix and holds a Bachelor’s degree in marketing from the
University of Kentucky.
About Inogen
Inogen, Inc. (Nasdaq: INGN) is a leading global medical
technology company offering innovative respiratory products for use
in the homecare setting. Inogen supports patient respiratory care
by developing, manufacturing, and marketing innovative
best-in-class portable oxygen concentrators used to deliver
supplemental long-term oxygen therapy to patients suffering from
chronic respiratory conditions. Inogen partners with patients,
prescribers, home medical equipment providers, and distributors to
make its oxygen therapy products widely available allowing patients
the chance to remain ambulatory while managing the impact of their
disease.
For more information, please visit www.inogen.com.
Inogen has used, and intends to continue to use, its Investor
Relations website, http://investor.inogen.com/, as a means of
disclosing material non-public information and for complying with
its disclosure obligations under Regulation FD. For more
information, visit http://investor.inogen.com/.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, among others, statements with respect to the
announced changes to management; statements concerning or implying
Inogen’s future financial performance; statements regarding
Inogen’s goals and potential, including the potential for Inogen to
scale its business, drive operational efficiencies, accelerate its
growth, win new customers, and drive long-term value for its
shareholders; the ability of management personnel to contribute to
the execution of Inogen’s strategic plans and goals; the ability of
Inogen to achieve sustainable, long-term growth; and Inogen’s full
year financial guidance. Any statements contained in this
communication that are not statements of historical fact may be
deemed to be forward-looking statements. Words such as “believes,”
“anticipates,” “plans,” “expects,” “will,” “intends,” “potential,”
“possible,” and similar expressions are intended to identify
forward-looking statements. Forward-looking statements are subject
to numerous risks and uncertainties that could cause actual results
to differ materially from currently anticipated results, including
but not limited to, risks related to its announced management and
organizational changes, and risks arising from the possibility that
Inogen will not realize anticipated future financial performance or
strategic goals. In addition, Inogen's business is subject to
numerous additional risks and uncertainties, including, among
others, risks relating to market acceptance of its products;
competition; its sales, marketing and distribution capabilities;
its planned sales, marketing, and research and development
activities; interruptions or delays in the supply of components or
materials for, or manufacturing of, its products; seasonal
variations; unanticipated increases in costs or expenses; risks
associated with international operations; and the possibility that
Inogen will not realize anticipated revenue from recent or future
technology acquisitions or that expenses and costs related thereto
will exceed Inogen’s expectations. Information on these and
additional risks, uncertainties, and other information affecting
Inogen’s business operating results are contained in its Annual
Report on Form 10-K for the period ended December 31, 2022, its
Quarterly Report on Form 10-Q for the calendar quarter ended
September 30, 2023 and in its other filings with the Securities and
Exchange Commission. These forward-looking statements speak only as
of the date hereof. Inogen disclaims any obligation to update these
forward-looking statements except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231113839529/en/
Investor Contact ir@inogen.net
Media Contact Andi Rose / Mahmoud Siddig Joele Frank,
Wilkinson Brimmer Katcher 212-355-4449
Inogen (NASDAQ:INGN)
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