InnovAge Celebrates Grand Opening of Orlando’s First PACE Center in Partnership with Orlando Health

Rhea-AI Summary

InnovAge (Nasdaq: INNV) has announced the grand opening of its new PACE center in Orlando, Florida, in partnership with Orlando Health. The 32,000 square foot facility, located at 8410 South Orange Blossom Trail, aims to serve 1,300 seniors, offering a comprehensive range of healthcare services at no cost to those with Medicare and Medicaid. These services include transportation, in-home care, medication management, dental care, and more. The new center is part of InnovAge's mission to help seniors live independently and improve their quality of life. The partnership with Orlando Health is expected to amplify the impact of these services within the community.

Positive

• InnovAge opened a new 32,000 square foot PACE center in Orlando.
• The center can serve approximately 1,300 seniors.
• Offers comprehensive healthcare at no cost for Medicare and Medicaid holders.
• Services include transportation, medication management, dental care, and various therapies.
• Partnership with Orlando Health to enhance service reach and quality.
• InnovAge has over 30 years of experience in operating PACE programs.

Negative

• The press release does not provide specific financial metrics or revenue projections from the new center.
• The opening of a new center involves initial costs and investments, which are not detailed.
• While the center aims to serve 1,300 seniors, there is no information on current enrollment or initial uptake.

PACE Program Provides Highly Coordinated, Personalized Senior Care

ORLANDO, Fla., May 29, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), announced the grand opening of its new center in Orlando, Florida, located at 8410 South Orange Blossom Trail.

The new InnovAge center is a joint venture with Orlando Health, a healthcare system broadly recognized for its exemplary care programs, services and extensive community outreach and support. Orlando Health has partnered with InnovAge to help magnify the impact and extend the reach of PACE services for eligible seniors so they may live independently for as long as safely possible. InnovAge’s high quality healthcare is delivered at no cost to seniors with Medicare and Medicaid coverage.

The 32,000 square foot Orlando state-of-the-art senior healthcare center has the capacity to serve approximately 1,300 seniors and provides integrated PACE healthcare and support services through a personalized approach that encompasses transportation, in-home care, medication management, dental care, specialty care, physical, occupational, and speech therapy, exercise, social services, meals and nutrition, socialization, recreational activities, and more.

“We are thrilled to provide exceptional, robust healthcare and support to Orlando seniors in a highly coordinated manner, inclusive of transportation, nutrition, socialization and much more,” said InnovAge President and CEO Patrick Blair. “These comprehensive services are a big relief to seniors and their loved ones, but also to our health care partners and their staff. We believe the partnership with Orlando Health will support our efforts and create incremental value to participants and the community.”

Orlando Health Senior Vice President of External Affairs and Community Relations Andy Gardiner emphasized the need for InnovAge’s highly focused, personalized approach to senior care. “Our mission at Orlando Health is to improve the health and quality of life of the individuals and communities we serve. Orlando Health’s success is not just a result of our outstanding teams, but also because of our community partnerships. We are excited to weave InnovAge, which has more than 30 years of success operating PACE programs, into the fabric of our mission.”

Today’s grand opening was attended by local lawmakers, healthcare providers, community partners, and area families who toured the new center, sampled nutritious food, and interacted with staff who shared senior healthcare tips and community resource education.

Media Contact
Lara Hazenfield
InnovAge Public Relations & Content Creation Manager
lhazenfield@innovage.com
720-884-7568

About InnovAge
InnovAge is a market leader in managing the care of high-cost, frail, and predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). With a mission of enabling older adults to age independently in their own homes for as long as safely possible, InnovAge’s patient-centered care model is designed to improve the quality of care its participants receive while reducing over-utilization of high-cost care settings. InnovAge believes its PACE healthcare model is one in which all constituencies — participants, their families, providers, and government payors — “win.” As of March 31, 2024, InnovAge served approximately 6,820 participants across 19 centers in six states. With the opening of its Orlando center, InnovAge currently operates 20 centers. www.InnovAge.com.

About Orlando Health

Orlando Health, headquartered in Orlando, Florida, is a not-for-profit healthcare organization with $9.6 billion of assets under management that serves the southeastern United States and Puerto Rico. Founded more than 100 years ago, the healthcare system is recognized around the world for Central Florida’s only pediatric and adult Level I Trauma program as well as the only state-accredited Level II Adult Trauma Center in Pinellas County. It is the home of one of the nation’s largest neonatal intensive care units, one of the only systems in the southeast to offer open fetal surgery to repair the most severe forms of spina bifida, the site of an Olympic athlete training facility and operator of one of the largest and highest performing clinically integrated networks in the region. Orlando Health has pioneered life-changing medical research and its Graduate Medical Education program hosts more than 350 residents and fellows.

In FY 23, Orlando Health cared for 197,000 inpatients and 6.6 million outpatients. The healthcare system provided nearly $1.3 billion in total impact to the communities it serves in the form of community benefit programs and services, Medicare shortfalls, bad debt, community-building activities and capital investments in FY 22, the most recent period for which this information is available. Additional information can be found at http://www.orlandohealth.com, or follow us on LinkedIn, Facebook, Instagram, and Twitter @orlandohealth.

FAQ

What is the new InnovAge PACE center in Orlando?

The new InnovAge PACE center is a 32,000 square foot facility located at 8410 South Orange Blossom Trail, Orlando, providing comprehensive healthcare services to seniors.

What services are provided at InnovAge's new PACE center?

The center offers transportation, in-home care, medication management, dental care, physical and occupational therapy, social services, and more.

How many seniors can InnovAge's new Orlando center serve?

The new center has the capacity to serve approximately 1,300 seniors.

What is InnovAge's stock symbol?

InnovAge's stock symbol is INNV.

Who is InnovAge partnering with for the new PACE center in Orlando?

InnovAge is partnering with Orlando Health for the new PACE center in Orlando.

Is there a cost for seniors to use InnovAge's PACE services in Orlando?

No, the services are provided at no cost to seniors with Medicare and Medicaid coverage.