Inogen Sells US Oxygen Rental Business to Rotech Healthcare

Inogen Inc. signed an agreement to sell its U.S. oxygen rental business to Rotech Healthcare for up to $25 million in cash. The transaction, which includes specified rental assets, is expected to close in the fourth quarter of 2026.

As part of the deal, Inogen entered into a long-term supply agreement for Rotech to distribute Inogen oxygen concentrators through its national network. The divestiture follows a 9.8% year-over-year revenue decline in the rental business during the first half of 2026, where it totaled $24.3 million. Inogen will now shift its focus toward respiratory innovation and its direct-to-consumer cash-pay sales channel.

In conjunction with the sale, Inogen's Board of Directors increased the company's share repurchase authorization by $15 million, raising the total to $45 million through June 30, 2028. CEO Kevin Smith stated that these transactions strengthen the company's business and financial profile while sharpening its strategic focus.