INNOVATE Corp. reports developments across a diversified portfolio organized around Infrastructure, Life Sciences and Spectrum. News commonly covers consolidated earnings, subsidiary performance, DBM Global cash dividends, steel construction activity, Spectrum network and broadcasting updates, and capital or operating developments within portfolio companies.
Life Sciences updates center on MediBeacon, an equity method investment developing fluorescent tracer agents and transdermal detection for kidney function assessment through the TGFR System, including FDA, NMPA and CE Mark regulatory milestones. INNOVATE also reports R2 system sales and commercial agreements as part of its portfolio-company operating updates.
INNOVATE Corp. (NYSE: VATE) announced that its subsidiary R2 Technologies’ Glacial Rx is the first and only Class II dermal cooling system FDA-cleared for dermabrasion, scar revision, and tattoo removal. The clearance marks a significant milestone following Glacial Rx's commercial launch in March 2021, indicating its unique position in the aesthetics industry. R2's CEO highlighted the innovative effort behind this achievement, noting that it led to a new FDA product code. The company continues to receive orders from aesthetic providers, further enhancing its market presence.
INNOVATE Corp. (NYSE: VATE) has successfully completed its name change from HC2 Holdings, effective September 20, 2021. The new name reflects the Company's commitment to growth in key sectors such as Infrastructure, Life Sciences, and Spectrum. With the transition, trading under the new ticker symbol 'VATE' has commenced on the New York Stock Exchange.
The rebranding aims to position INNOVATE as a leader in the new economy, focusing on innovative growth strategies. Shareholders do not need to take any action regarding the name change.