InnovAge Florida PACE – Tampa and Tampa General Hospital Form Joint Venture to Elevate PACE Services in Tampa

Rhea-AI Summary

InnovAge (NASDAQ: INNV), a leader in the Program of All-inclusive Care for the Elderly (PACE), has announced a strategic joint venture with Tampa General Hospital (TGH) for its Tampa, Florida center. The 35,000-square-foot facility, capable of serving approximately 1,300 seniors, will provide comprehensive care services across Hillsborough, Pasco, and Hernando counties.

The partnership combines InnovAge's PACE expertise with TGH's clinical excellence, ranked as the #1 hospital in Tampa Bay for 10 consecutive years and among the top 10% of U.S. hospitals in Geriatrics. The center offers integrated medical, dental, therapy, and social services, along with transportation and in-home support, primarily serving dual Medicare and Medicaid beneficiaries.

Positive

• Partnership with Tampa's #1 ranked hospital enhances clinical capabilities and market presence
• Large 35,000-square-foot facility capacity to serve 1,300 seniors indicates significant growth potential
• Access to TGH's extensive healthcare network and specialized geriatric care expertise
• Expansion of service area across three counties (Hillsborough, Pasco, and Hernando)

Negative

• None.

Two of the region’s leading organizations team up to elevate community-based care options for seniors across Tampa Bay.

TAMPA, Fla., Aug. 15, 2025 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV), a leader in senior care through the Program of All-inclusive Care for the Elderly (“PACE”), is proud to announce a new joint venture of its Tampa, Florida center, located at 4520 Seedling Circle, Tampa, Florida 33614 with Tampa General Hospital (TGH).

This joint venture unites two mission-driven organizations dedicated to helping older adults in Hillsborough, Pasco and Hernando counties to live healthier, more independent lives. InnovAge expects the joint venture with Tampa General to elevate a shared commitment to expanding innovative community-based care options and improve access to quality care, particularly for the clinically frail and underserved seniors in the market.

A Shared Commitment to Tampa Seniors

Tampa General Hospital is the #1 hospital in the Tampa Bay region for the 10th consecutive year, according to U.S. News & World Report’s 2025–2026 Best Hospitals rankings. Recognized nationally as among the top 10% of U.S. hospitals in Geriatrics, Tampa General is the region’s only academic health system and a trusted source of high-quality, complex care for the senior population. Tampa General’s commitment to maintaining optimal health for seniors and providing world-class care tailored to their unique needs is also recognized by the Institute for Healthcare Improvement (IHI) as an Age-Friendly Health System, at the highest level of designation—“Committed to Care Excellence.”

PACE (Program of All-Inclusive Care for the Elderly) is a proven care model designed to help seniors live independently at home while receiving the health care and support they need. PACE delivers fully coordinated medical, dental, therapy, and social services—along with transportation and in-home support. An interdisciplinary care team works closely with each participant to create a personalized plan that promotes health, dignity and quality of life, often at no cost for those with dual Medicare and Medicaid coverage.

“We are thrilled to partner with Tampa General Hospital, an organization that shares our deep commitment to improving the health and quality of life of the communities we serve,” said Patrick Blair, InnovAge CEO. “Together, we will bring the proven benefits of PACE to more seniors in the Tampa Bay area, helping them live safely and independently at home while receiving the comprehensive care they need. Tampa General’s reputation for clinical excellence and community leadership makes them an ideal partner for InnovAge, and we are excited about the positive impact we can create together.”

“Innovation is in our DNA and we look for partners who share that same philosophy,” said John Couris, Tampa General Hospital President and CEO. “InnovAge shares our vision of a healthier community for everyone, including our most vulnerable seniors. This joint venture reflects our mutual dedication to expanding access, creating innovative solutions and making a lasting difference in the lives of older adults in Tampa Bay.”

The InnovAge Florida PACE center in Tampa has one of the largest footprints in the nation, with a 35,000-square-foot facility that can serve approximately 1,300 seniors. It offers primary and specialty medical care, dental services, rehabilitation therapies, transportation, meals, and engaging social activities—coordinated by a dedicated care team to help participants remain independent and connected to their community.

Investor Contact
Ryan Kubota
rkubota@innovage.com

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

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, 2025, InnovAge served approximately 7,530 participants across 20 centers in six states. www.InnovAge.com.

About Tampa General
Tampa General Hospital, a 1,529-bed, not-for-profit academic health system, is one of the largest hospitals in America and delivers world-class care as the Tampa Bay region’s only center for Level l trauma and comprehensive burn care. The system’s hospitals include Tampa General Hospital, Tampa General Rehabilitation Hospital, Tampa General Behavioral Health Hospital which are all located in Tampa. Additionally, Tampa General Brooksville, Tampa General Spring Hill and Tampa General Crystal River anchor TGH’s footprint in Hernando and Citrus counties. Tampa General Hospital is the highest-ranked hospital in Tampa Bay in U.S. News & World Report’s 2025-2026 Best Hospitals, with six medical specialties ranking among the top 50 in the nation and five additional medical specialties ranked among the top 10% best hospital programs in the United States. As the first hospital in Florida to open a clinical command center for real-time situational awareness, Tampa General elevated its digital care coordination center to the next level by leveraging artificial intelligence (AI) and its analytics platform across both inpatient and outpatient care, ensuring patients receive leading-edge care as quickly and safely as possible. The academic health system’s commitment to growing and developing its team members is recognized by three prestigious Forbes magazine rankings — in the 2025 America's Best Large Employers, the top 50 in Florida in the 2024 America's Best Employers by State and the 2023 America's Best Employers for Women.

Tampa General is the safety-net hospital for the region, caring for anyone regardless of ability to pay; in fiscal year 2023, Tampa General provided a net community benefit of approximately $301.8 million in the form of health care for underinsured patients, community education and financial support to community health organizations in Tampa Bay. It was the nation’s No. 1 adult solid organ transplant center in 2024 and is the primary teaching hospital for the USF Health Morsani College of Medicine. With five medical helicopters, Tampa General transports critically injured or ill patients from 23 surrounding counties to receive the advanced care their conditions require. Tampa General is home to a nationally accredited comprehensive stroke center and its 32-bed Neuroscience, Intensive Care Unit is the largest on the West Coast of Florida. It is home to the Muma Children’s Hospital at TGH, the Jennifer Leigh Muma 82-bed neonatal intensive care unit and a nationally accredited rehabilitation center. Tampa General’s footprint includes TGH North, which consists of three hospitals and several outpatient locations in Citrus and Hernando counties; 17 Tampa General Medical Group Primary Care offices; TGH Family Care Center Kennedy; two TGH outpatient centers; TGH Virtual Health; and 19 TGH Imaging outpatient radiology centers throughout Hillsborough, Pasco, Pinellas and Palm Beach counties. Tampa Bay area residents receive world-class care from the TGH Urgent Care, powered by the Fast Track network of clinics. To see a medical care professional live anytime, anywhere on a smartphone, tablet or computer, visit Virtual Health | Tampa General Hospital (tgh.org). For more information, go to www.tgh.org.

This press release was published by a CLEAR® Verified individual.

FAQ

What is the significance of InnovAge's joint venture with Tampa General Hospital?

The joint venture combines InnovAge's PACE expertise with Tampa General Hospital's clinical excellence to provide comprehensive care services for seniors across three counties, leveraging TGH's position as the #1 hospital in Tampa Bay and its top 10% national ranking in Geriatrics.

How many participants can the InnovAge Florida PACE center in Tampa serve?

The Tampa PACE center features a 35,000-square-foot facility that can serve approximately 1,300 seniors, making it one of the largest PACE facilities in the nation.

What services does the INNV Tampa PACE center provide to seniors?

The center provides comprehensive services including primary and specialty medical care, dental services, rehabilitation therapies, transportation, meals, and social activities, all coordinated by a dedicated care team.

What is InnovAge's current operational scale as of March 2025?

As of March 31, 2025, InnovAge served approximately 7,530 participants across 20 centers in six states.

Which counties will be served by the InnovAge-Tampa General Hospital joint venture?

The joint venture will serve seniors in Hillsborough, Pasco, and Hernando counties in the Tampa Bay area.