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InnovAge Holding Corp. (NASDAQ: INNV) is a trailblazer in the healthcare industry, dedicated to supporting seniors in aging with dignity in their own homes. Through the Program of All-inclusive Care for the Elderly (PACE), InnovAge delivers comprehensive, patient-centered care aimed at improving quality of life and reducing the need for high-cost care settings such as hospitals and nursing homes.
InnovAge operates 19 PACE centers across six states, serving approximately 6,820 participants as of March 31, 2024. The company's PACE programs offer a holistic approach to healthcare, encompassing a wide range of services including transportation, in-home care, medication management, dental care, specialty care, physical, occupational, and speech therapy, as well as social services, meals, and recreational activities. These services are provided at no cost to eligible seniors with Medicare and Medicaid coverage.
Recent achievements include the acquisition of two PACE programs in California from ConcertoCare, expanding InnovAge's presence on the West Coast and adding capacity for approximately 750 participants at maturity. Additionally, InnovAge has launched several initiatives aimed at enhancing operational performance and financial stability, contributing to its ongoing growth and success.
InnovAge's mission is to enable seniors to age independently for as long as safely possible. The company's care model fosters partnerships with seniors, their families, and healthcare providers, creating customized care plans that address individual needs and promote independence. InnovAge's commitment to excellence and operational growth is evident in its strategic expansions and continuous improvement endeavors.
For the latest news and updates on InnovAge Holding Corp., visit their investor relations page.
InnovAge Holding Corp. (NASDAQ: INNV) announced a $5.0 million share repurchase program authorized by its Board of Directors. The program allows the company to buy back its common stock from the open market, private transactions, or other compliant methods. The timing and number of repurchased shares will depend on various factors like stock price, trading volume, and regulatory requirements. The company is not obligated to purchase any shares and can suspend or discontinue the program at any time.
InnovAge Holding Corp. (Nasdaq: INNV), a leader in senior healthcare through the Program of All-inclusive Care for the Elderly (PACE), has been recertified as a Great Place to Work. This recognition results from a comprehensive survey of all employees, highlighting their pride in the company's community impact and the meaningful nature of their work. InnovAge tailors healthcare services to seniors, promoting independence and well-being. This recertification underscores the supportive and trustful work culture fostered by InnovAge, benefiting staff, participants, and caregivers alike.
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.
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.
InnovAge Holding Corp. announced financial results for the fiscal third quarter ended March 31, 2024, showing total revenues of $193.1 million, an increase of 11.9% compared to the same period in 2023. The company reported a net loss of $6.2 million and adjusted EBITDA of $3.6 million. InnovAge also provided financial guidance for the full fiscal year 2024.
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