Inogen announces divestiture of U.S. oxygen rental business to Rotech
INGN•Inogen agreed to sell its U.S. oxygen rental assets to Rotech for up to $25 million in cash and signed a long-term supply agreement. The company expects the transactions to increase its revenue growth rate and adjusted operating income, and its board approved a $15 million increase to its share repurchase authorization, bringing it to $45 million.
1. Assets and buyback
Inogen announced the divestiture of its U.S. oxygen rental business to Rotech, which will buy the rental assets for up to $25 million in cash. The companies also signed a long-term supply agreement. Inogen said it expects the transactions to increase its revenue growth rate and adjusted operating income; its board approved a $15 million increase to its share repurchase authorization, bringing the total to $45 million.
