SOURCE: HC2 Holdings, Inc.

HC2 Holdings, Inc.

December 09, 2014 08:00 ET

HC2's Subsidiary Pansend Has Founded GemDerm Aesthetics, Inc.

HERNDON, VA--(Marketwired - Dec 9, 2014) - HC2 Holdings, Inc. ("HC2") (OTCQB: HCHC) announced today that Pansend, LLC, its indirect wholly owned subsidiary, has founded GemDerm Aesthetics, Inc., which has licensed technology created by scientists R. Rox Anderson, M.D., Director of the Wellman Center of Photomedicine at Massachusetts General Hospital in Boston, a teaching affiliate of Harvard Medical School; Dieter Manstein, M.D., Ph.D., of the Cutaneous Biology Research Center in the Department of Dermatology at Massachusetts General Hospital; and Henry H.L. Chan, M.D., Ph.D., Honorary Clinical Professor, Department of Medicine, The University of Hong Kong and the Visiting Scientist of the Wellman Center for Photomedicine, Massachusetts General Hospital. 

The new company, founded by David A. Present, M.D. and Cherine Eldumiati Plumaker of Pansend, LLC, will transform the novel licensed technology to create innovative medical products and procedures. Aesthetic medical practitioners around the globe will be able to deliver uniquely effective solutions for common patient dermatologic conditions that are poorly treated by currently available treatment options.

Philip Falcone, HC2 Chairman, President, and CEO, stated, "We are excited to collaborate with Drs. Anderson, Manstein and Chan in the advancement of this novel and important technology in the field of dermatology."

Cautionary Statement Regarding Forward Looking Statements

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements. Generally, forward-looking statements include information describing the offering and other actions, events, results, strategies and expectations and are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions. These statements are based on the beliefs and assumptions of HC2's management and the management of HC2's subsidiaries (including target businesses). Factors that could cause actual results, events and developments to differ include, without limitation, capital market conditions, the ability of HC2's subsidiaries (including, target businesses following their acquisition) to generate sufficient net income and cash flows to make upstream cash distributions, HC2 and its subsidiaries ability to identify any suitable future acquisition opportunities, efficiencies/cost avoidance, cost savings, income and margins, growth, economies of scale, combined operations, future economic performance, conditions to, and the timetable for, completing the integration of financial reporting of acquired or target businesses with HC2 or HC2 subsidiaries, completing future acquisitions and dispositions, litigation, potential and contingent liabilities, management's plans, changes in regulations, taxes and the risks that may affect the performance of the operating subsidiaries of HC2 and those factors listed under the caption "Risk Factors" in HC2's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, filed with the Securities and Exchange Commission. All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. HC2 does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operation results.

About HC2

HC2 operates as a holding company of operating subsidiaries primarily in the United States and the United Kingdom. HC2 owns approximately 91% of Schuff International Inc., a leading provider of structural steel fabrication, erection and engineering support services in the United States. HC2 also owns Global Marine Systems Limited, which is a global offshore engineering company and provider of engineering and underwater services, responding to the subsea cable installation, maintenance and burial requirements of its world-wide customer base. HC2's indirectly wholly owned subsidiary PTGi International Carrier Services, Inc. operates direct routes and provides premium voice communication services for national telecom operators, mobile operators, wholesale carriers, prepaid operators, voice over internet service operators and Internet service providers. HC2 owns a majority interest in ANG Holding, Inc., a natural gas fueling company. HC2's indirectly wholly owned subsidiary Pansend, LLC owns 80% of Genovel Orthopedics, Inc., which seeks to develop products to treat early osteoarthritis of the knee. HC2 also has several non-controlling investments, including a 17% equity stake in Novatel Wireless, which designs and develops wireless communications technologies, and a minority interest in NerVve Technologies, Inc., an information technology company. Founded in 1994, HC2 is headquartered in Herndon, Virginia.

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