Inogen, Inc. has entered into a definitive agreement to sell substantially all of its assets used in its United States oxygen rental business to Rotech Healthcare Inc. The transaction, signed on September 29, 2026, is subject to customary closing conditions and is expected to close in the fourth quarter of 2026.
Under the terms of the Asset Purchase Agreement, the aggregate purchase price is estimated at up to approximately $24.8 million, based on the inventory and patient records to be transferred. The payment will be made in six installments and is subject to post-closing reconciliation. The deal includes specified on-rent and on-hand inventory and related patient records.
Inogen also announced a separate product supply agreement with Rotech. This long-term agreement is intended to support accelerating patient demand and access to Inogen’s oxygen concentrators through Rotech’s national distribution network.
Following the completion of the sale, Inogen plans to present the Rental Business as discontinued operations in its financial results beginning with the third quarter of 2026. The company noted that the Rental Business generated revenue of $24.3 million in the first half of 2026, representing a year-over-year decline of 9.8%.
In connection with the transaction, Inogen’s Board of Directors approved an amendment to the company’s existing share repurchase program. The amendment, which becomes effective only upon the closing of the sale, increases the aggregate repurchase authorization from $30.0 million to $45.0 million. The extended authorization will expire on June 30, 2028, or when the maximum authorized dollar amount has been utilized, whichever occurs first.
