Inogen Announces Appointment of General Counsel

Rhea-AI Summary

Inogen has appointed Jason Somer as the new Executive Vice President and General Counsel, effective July 12, 2021. CEO Nabil Shabshab emphasized that Somer's 25 years of legal experience will enhance Inogen's legal and compliance functions, crucial for the company's growth strategy. Somer expressed his commitment to increasing stockholder value while leading the legal organization. His previous roles include serving as head legal counsel at Invoca, and he holds advanced degrees in law and biology.

Positive

• Jason Somer's 25 years of legal experience expected to strengthen Inogen's legal and compliance functions.
• Somer's appointment may enhance the growth strategy and increase stockholder value.

Negative

• Concerns about continuity and experience gaps due to management change.

Inogen, Inc. (NASDAQ: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, announced today that its Board of Directors has appointed Jason Somer as Inogen’s Executive Vice President and General Counsel and Secretary, effective July 12, 2021.

Nabil Shabshab, Inogen’s Chief Executive Officer, said, “On behalf of the Board of Directors, I would like to congratulate Jason on this appointment as I believe that he will be a tremendous asset to Inogen and a great addition to our executive team. I believe Jason’s twenty-five years of experience in general counsel and attorney roles will be a great enabler in building a stronger Inogen and further strengthening our legal and compliance functions as we continue to evolve and roll out our ongoing growth strategy.”

“I am honored by the opportunity to lead Inogen’s legal and compliance organization in our mission to increase the freedom and independence for respiratory patients,” said Mr. Somer. “I look forward to contributing to the next phase of Inogen’s planned growth with a commitment to integrity and compliance while increasing stockholder value.”

Mr. Somer currently serves as head Legal Counsel at Invoca, Inc., a SaaS analytics company. Prior to his time at Invoca, Mr. Somer served as Associate General Counsel at Sunniva, Inc., and as General Counsel and Corporate Secretary for Innova Gaming Group, a gaming company. Prior to joining Innova, Mr. Somer served as the Senior Vice President of Business Development and General Counsel at Sunora Energy Solutions, a solar energy development company. Mr. Somer also previously served as the Vice President of Special Projects and the Senior Global Counsel at Suntech Power, a Shanghai-based solar energy technology company. Prior to joining Suntech Power, Mr. Somer served as Director of Legal Affairs & Business Development at Ironport Systems, Inc. and as Associate General Counsel and a Business Development Director at Neoforma, Inc. Mr. Somer joined Neoforma from Morrison & Foerster where he was a corporate/securities associate based in New York. Mr. Somer holds a L.L.M. from Boston University, a L.L.B. from the University of British Columbia School of Law, and a B.Sc. from the University of Western Ontario in Biology/Pharmacology.

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/.

About Inogen

We are a medical technology company offering innovative respiratory products for use in the homecare setting. We primarily develop, manufacture and market innovative portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

For more information, please visit www.inogen.com.

Cautionary Note About 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 management and organizational changes, statements concerning or implying Inogen’s future financial performance, trends and opportunities affecting Inogen, and the ability of management personnel to contribute to the development of and increasing patient access to Inogen’s products and technologies, expanding and growing its business, and increasing value for its stockholders. 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, risks arising from the possibility that Inogen will not realize anticipated revenue; the risks related to the COVID-19 public health emergency; the impact of changes in reimbursement rates and reimbursement and regulatory policies; the possible loss of key employees, customers, or suppliers; risks relating to Inogen’s acquisition of New Aera and the integration of New Aera’s business and operations within those of Inogen; risks relating to reimbursement coding of the Tidal Assist^© Ventilator (TAV); the possibility that Inogen will not realize anticipated revenue from the technology acquired from New Aera or that expenses and costs will exceed Inogen’s expectations; intellectual property risks if Inogen is unable to secure and maintain patent or other intellectual property protection for the intellectual property used in its products; and intellectual property risks relating to the acquisition of New Aera, including the risk of intellectual property litigation. 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; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen's business and operating results are contained in Inogen's Quarterly Report on Form 10-Q for the period ended March 31, 2021 and its subsequent SEC filings. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005125/en/

FAQ

What is the significance of Jason Somer's appointment at Inogen?

Jason Somer's appointment as Executive Vice President and General Counsel is significant as he brings 25 years of legal expertise, which is expected to strengthen Inogen's legal and compliance functions.

When did Jason Somer's position as General Counsel at Inogen become effective?

Jason Somer's position as General Counsel became effective on July 12, 2021.

What prior experience does Jason Somer have before joining Inogen?

Before joining Inogen, Jason Somer served as head Legal Counsel at Invoca and held various roles in legal and corporate governance at other companies.

How might Jason Somer's appointment impact Inogen's stockholder value?

Jason Somer has expressed a commitment to increasing stockholder value, which may positively influence investor confidence and the company's performance.

What are the challenges related to management changes at Inogen?

Challenges may include continuity issues and the risk of experience gaps in leadership, which could affect strategic execution.