INNOVATE Announces MediBeacon FDA Approval for Next-Gen TGFRTM System
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2025
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INNOVATE announced that MediBeacon, in which INNOVATE owns a 44.7% equity interest, has received approval from the U.S. Food and Drug Administration, FDA, for the next generation MediBeacon TGFRTM System including the latest TGFRTM Reusable Sensor. The TGFR System enables kidney function assessment at the point of care by measuring the clearance rate of Lumitrace, a non-radioactive, non-iodinated fluorescent GFR agent. The TGFR Reusable Sensor placed on the skin measures the change in Lumitrace fluorescence intensity as a function of time.
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About INNV
InnovAge Holding Corp. is a healthcare delivery platform. The Company is engaged in managing the care of high-cost, frail, and dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). Its programs are designed to allow frail seniors to live life on their terms by aging in place, in their own homes and communities, for as long as safely possible. Through its PACE program, it offers a range of medical and ancillary services for seniors, including in-home care services (skilled, unskilled and personal care), center services such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to and from the PACE center, and third-party medical appointments and care management. Its participant-centered approach is led by the Company's Interdisciplinary Care Teams (IDTs), who oversee all aspects of each participant’s care plan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
InnovAge CEO Patrick Blair to Present at 2026 J.P. Morgan Healthcare Conference
- Executive Presentation: InnovAge CEO Patrick Blair is set to present at the 44th Annual J.P. Morgan Healthcare Conference on January 12, 2026, showcasing the company's leadership in providing comprehensive healthcare services to frail seniors, which is expected to attract investor interest.
- Market Leadership: As of September 30, 2025, InnovAge serves approximately 7,890 participants across 20 centers in six states, indicating its significant impact in managing high-cost healthcare, thereby further solidifying its market position.
- Innovative Care Model: InnovAge's PACE model aims to enhance the ability of seniors to live independently while reducing over-utilization of high-cost care settings, reflecting the company's commitment to improving care quality for older adults, which may attract more support from government payors.
- Investor Relations: The live webcast of the conference will provide real-time information to investors, enhancing interaction between the company and its investors, thereby increasing transparency and trust in the healthcare sector.
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InnovAge Settles $27 Million Securities Fraud Class Action with Investors
- Settlement Amount Finalized: InnovAge Holding Corp. has reached a $27 million cash settlement with investors to resolve allegations of securities fraud related to its IPO materials, indicating a significant financial burden on the company due to legal issues.
- Litigation Background: The case, filed in 2021, accused InnovAge of providing false information to investors during the IPO period, leading to investor losses and reflecting serious deficiencies in corporate governance and transparency.
- Significant Stock Impact: Following the announcement of regulatory sanctions, InnovAge's stock plummeted by 78%, making it one of the five worst-performing IPOs of 2021, highlighting a severe lack of market confidence in the company's operations and compliance.
- Legal Team Recognition: The Honorable William J. Martinez of the U.S. District Court commended the plaintiffs' counsel for their exceptional performance, underscoring the importance of legal expertise and strategy in complex securities litigation.
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