InnovAge Welcomes John Koehn as Senior Vice President of External Affairs

Rhea-AI Summary

InnovAge Holding Corp. (Nasdaq: INNV) has appointed John Koehn as Senior Vice President of External Affairs, effective May 13, 2024. Koehn brings extensive experience in healthcare management, previously serving as Market President at AmeriHealth Caritas and Health Plan President for Amerigroup New Jersey. His expertise in P&L, risk management, long-term care, and provider relations aligns with InnovAge's mission to improve care for dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). InnovAge currently serves around 6,820 participants across 19 centers in six states.

Positive

• Appointment of John Koehn, a seasoned healthcare executive with extensive experience, as Senior Vice President of External Affairs.
• John Koehn's background in managing over 160,000 beneficiaries at AmeriHealth Caritas.
• John Koehn's successful implementation of major initiatives at Amerigroup New Jersey.
• InnovAge's commitment to enhancing senior care through the PACE model.
• InnovAge's service to approximately 6,820 participants across 19 centers in six states.

Negative

• No specific financial improvements or milestones were mentioned in the press release.
• Potential risks if new leadership initiatives do not align with the company's current strategies.

DENVER, May 20, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), welcomes John Koehn as its Senior Vice President of External Affairs as of May 13, 2024.

John brings a wealth of experience in healthcare management and a proven track record of success in areas critical to InnovAge’s mission and growth, including P&L and risk management, long-term care, provider relations, and business development. John has had exceptional success in fostering close relationships with key stakeholders to drive program management and operational strategies.

“John's leadership will be invaluable in navigating the complex landscape of healthcare and external relations,” said Patrick Blair, InnovAge President and CEO. “We believe his extensive background in government relations and policy and his executive roles across various healthcare organizations equip him with the insight and experience necessary to lead our external affairs initiatives.”

“I am excited to join InnovAge’s team of talented and dedicated clinicians and professionals who are committed to advancing InnovAge’s 30+ years of success in PACE,” said John Koehn, InnovAge Senior Vice President of External Affairs. “PACE is a proven model addressing some of our nation’s most pressing senior care challenges. It provides improved and more equitable outcomes, true and meaningful dual integration, and, in a sustainable way. PACE is what every state needs to achieve a robust senior care strategy. Simply put, PACE works and seniors like it.”

Previously, John was the Market President at AmeriHealth Caritas, where he managed over 160,000 beneficiaries and oversaw critical programs to improve member satisfaction, clinical care quality, and profitability. Prior to his tenure at AmeriHealth, John served as the Health Plan President for Amerigroup New Jersey, where he was instrumental in implementing major initiatives such as Managed Long-Term Services and Supports. His strategic negotiations and health risk adjustment strategies underscored significant savings, showcasing his ability to lead in challenging environments.

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. www.InnovAge.com

Investor Contact:
Ryan Kubota
RKubota@InnovAge.com

Media Contact:
Lara Hazenfield
Lhazenfied@InnovAge.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc1669cc-261f-4c9c-ab65-b9d81284340b

FAQ

Who is the new Senior Vice President of External Affairs at InnovAge?

John Koehn is the new Senior Vice President of External Affairs at InnovAge, effective May 13, 2024.

What experience does John Koehn bring to InnovAge?

John Koehn has extensive experience in healthcare management, including roles as Market President at AmeriHealth Caritas and Health Plan President for Amerigroup New Jersey.

What is InnovAge's mission?

InnovAge aims to enable older adults to age independently in their own homes for as long as safely possible through the Program of All-inclusive Care for the Elderly (PACE).

How many participants does InnovAge currently serve?

As of March 31, 2024, InnovAge serves approximately 6,820 participants across 19 centers in six states.

What is PACE?

PACE is a healthcare model designed to improve the quality of care for dual-eligible seniors while reducing high-cost care settings.