Inogen to divest U.S. oxygen rental business to Rotech for up to $25M; buyback raised to $45M

Inogen Inc

Asset Purchase Agreement signed Sept 29, 2026; Rotech buys Inogen's U.S. rental assets including on-rent/on-hand inventory and patient records for up to ~$24.8M in six installments.
Deal expected to close in Q4 2026 subject to customary conditions; Rental Business had $24.3M H1 2026 revenue, down 9.8% YoY, and will be reported as discontinued operations from Q3 2026.
Separate long-term supply agreement has Rotech distributing Inogen oxygen concentrators through its national network to accelerate patient demand.
Board approved a $15M increase to the share repurchase authorization, to $45M total, effective only on deal close; expiration extended from Dec 31, 2027 to June 30, 2028.
CEO Kevin Smith said the deals strengthen Inogen's business and financial profile; company expects higher revenue growth rate and adjusted operating income.

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