Entrepreneur and Rady Alum Byron Myers takes Inogen public with IPO
“Our mission is to give millions of people…back their freedom and independence.”
-Byron Meyers, MBA '10
Founder & VP of Marketing, Inogen
Inogen, a medical device company co-founded by Rady School alum Byron Myers (FlexWeekend MBA '10), completed a successful IPO in February 2014 raising $52.5 million for the company. This is the first time a company founded by a Rady School alum has gone public. This milestone is the culmination of 13 years of work by Myers, who is the Vice President of Marketing for the company, and his co-founders, who founded Inogen in 2001.
Myers noted that the experience of taking Inogen public was an exciting and rewarding experience. "This capital will enable us to continue to realize our commitment of delivering innovative and efficacious respiratory products by executing on our strategy and achieving the many milestones that we have ahead of us," Myers said. "Through my education at Rady I was able to interact with entrepreneurs and executives who had taken companies public, so I had a good idea of the process, but seeing it first hand was quite an experience. I was amazed at the amount of time and number of people, both internally and externally, that it took to complete the offering. The process concluded with a trip to Nasdaq's office in Times Square where we were able to watch the first trade and the start of our new journey as a public company."
The inspiration to start Inogen came from the grandmother of one of the founders, Mae, who was prescribed oxygen therapy. Using compressed oxygen tanks was a challenge for Mae, who worried about running out of oxygen and found the therapy limited her travel. Inogen developed a portable, tankless oxygen concentrator to increase patient mobility and eliminate oxygen supply concerns.
For Myers, the IPO will help further the company's mission. "Taking Inogen public will enable us to keep going on our mission, to keep giving back freedom and independence," Myers said. "One of our first milestones was giving Mae the first product that we manufactured and now really our mission is to give the millions of people just like Mae more independence in their everyday lives."
To learn more about Inogen, go to: http://www.inogen.com/