Inogen (INGN) Piper Sandler 36th Annual Healthcare Conference summary

Market overview and disease focus

• COPD affects 450 million globally, projected to reach 600 million by 2050, and is a leading cause of death in the US.

• Environmental hazards, not just smoking, are significant risk factors for COPD.

• Most long-term oxygen therapy patients still use tanks, limiting mobility; less than 20% use portable oxygen concentrators (POCs).

• Half of patients are unaware of POCs as an option when diagnosed.

Product innovation and portfolio expansion

• Launched Rove 4, a lightweight POC with four settings, targeting early-stage patients.

• Acquired PhysioAssist and its Simeox device, expanding into airway clearance beyond POCs.

• Simeox is marketed in Europe; US regulatory clearance is in progress.

• Inogen Connect digital health platform is being further developed for patient and B2B engagement.

Commercial strategy and channels

• Operates direct-to-consumer, prescriber, and B2B channels to reach patients and providers.

• Direct-to-consumer channel builds strong brand awareness but has higher costs due to advertising.

• B2B channel targets large buyers to convert tank users to POCs, leveraging the eight-year device life.

• Rental and prescriber channels support awareness and patient engagement.