InnovAge Holding Corp. reports developments tied to its Program of All-inclusive Care for the Elderly (PACE) healthcare delivery platform for frail, predominantly dual-eligible seniors. The company provides comprehensive, capitated care intended to support older adults in home and community settings while managing use of hospitals, emergency rooms, and nursing homes.
Recurring news includes fiscal-quarter results, revenue and Adjusted EBITDA guidance, census and Total Member Months metrics, center performance, investments in clinical teams, technology and quality capabilities, and interactions with policymakers around the PACE model. Company updates also cover board composition, investor presentations, conference participation, and operating execution across its PACE centers.
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.
InnovAge (NASDAQ:INNV), the largest Program of All-inclusive Care for the Elderly (PACE) provider in the US, has announced its sponsorship of a new PBS documentary titled "Caregiving". The documentary, which premieres on June 24, 2025, at 9pm ET, features Grammy-winning actor Bradley Cooper as executive producer and stars, with Emmy-winning actor Uzo Aduba as narrator.
The documentary explores the national caregiving crisis through family stories dealing with funding cuts, policy changes, and workforce challenges. InnovAge CEO Patrick Blair emphasizes the company's mission in supporting seniors and caregivers through their PACE model, which enables elderly participants to maintain dignity and autonomy while staying at home.
InnovAge (INNV) has achieved recertification as a Great Place to Work®, highlighting its commitment to creating a supportive workplace environment. The certification is based on employee feedback, with 85% of employees expressing pride in their organization's mission and community impact. The assessment process evaluated over 60 elements of employee experience across InnovAge's locations.
As of March 31, 2025, InnovAge serves approximately 7,530 participants across 20 centers in six states through its Program of All-Inclusive Care for the Elderly (PACE) services. The company focuses on managing care for high-cost, frail, and predominantly dual-eligible seniors, with a mission to enable older adults to age independently in their own homes.
InnovAge (Nasdaq: INNV), a market leader in the Program of All-inclusive Care for the Elderly (PACE), has scheduled its fiscal third quarter 2025 financial results release for Tuesday, May 6, 2025, after market close. The company will host a conference call at 5 p.m. E.T. to discuss the results.
As of December 31, 2024, InnovAge operates 20 centers across six states, serving approximately 7,480 participants. The company specializes in managing care for high-cost, frail, and predominantly dual-eligible seniors through its patient-centered care model, which aims to improve care quality while reducing over-utilization of high-cost care settings.
InnovAge (Nasdaq: INNV), the largest provider of the Program of All-inclusive Care for the Elderly (PACE), is actively engaging with lawmakers to promote and protect senior care services. PACE, available in 33 states and DC, offers comprehensive healthcare services including in-home care, transportation, primary and specialty care, meals, therapy, dental, vision, and social activities for seniors who might otherwise require nursing home care.
The program has demonstrated significant benefits, with research showing 44% fewer preventable hospitalizations compared to nursing home residents. Additionally, PACE generates approximately $6,000 annual savings per person in Medicaid spending compared to nursing homes. The Federal Department of Health and Human Services recognized PACE as a 'high performer' in its 2021 report, highlighting its effectiveness in providing comprehensive senior care while maintaining cost efficiency.
InnovAge (Nasdaq: INNV), a leading provider of comprehensive healthcare programs through the Program of All-inclusive Care for the Elderly (PACE), has announced its participation in the upcoming KeyBanc Capital Markets Healthcare Forum. The company's CEO Patrick Blair and CFO Ben Adams will be presenting at the virtual event on March 18, 2025, at 3:45 p.m. PT. Investors and interested parties can access the live webcast through the investor relations section of InnovAge's website.
InnovAge (NASDAQ: INNV) reported its fiscal Q2 2025 financial results, showing mixed performance. Total revenue increased 10.6% to $209.0 million compared to $188.9 million in Q2 2024. However, the company's loss before income taxes widened significantly to $13.5 million, up from $3.7 million in the prior year period.
Key metrics include a census growth to approximately 7,480 participants from 6,780 in Q2 2024. Center-level Contribution Margin increased 10.3% to $37.1 million, while Adjusted EBITDA decreased to $5.9 million from $6.9 million, with margin declining to 2.8% from 3.7%. The company ended the quarter with $46.1 million in cash, $40.8 million in short-term investments, and $78.3 million in debt.
For fiscal year 2025, InnovAge maintained its guidance with projected total revenues between $815-865 million and Adjusted EBITDA of $24-31 million.
InnovAge Holding Corp. (Nasdaq: INNV) announced it will release its 2025 fiscal second quarter financial results on Tuesday, February 4, 2025, after market close.
The company will also host a conference call at 5 p.m. E.T. to review the results. A live audio webcast of the call will be available on InnovAge's website, and a replay will be accessible shortly after the call's completion.
InnovAge is a leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). The company aims to enable older adults to age independently at home while improving care quality and reducing high-cost care utilization. As of September 30, 2024, InnovAge served approximately 7,210 participants across 20 centers in six states.
For more information, visit the company's website or contact Investor Relations at Ryan Kubota (rkubota@innovage.com) or Media Relations at Lara Hazenfield (lhazenfield@innovage.com).
InnovAge Holding Corp. (Nasdaq: INNV), the largest Program of All-inclusive Care for the Elderly (PACE) provider in the U.S., marks its 35th anniversary of transforming senior care. Since its 1989 founding, InnovAge has expanded from one pilot location to 20 centers across 6 states, serving approximately 7,210 current participants and a total of 24,440 seniors throughout its history.
PACE, available in 33 states and D.C., offers comprehensive care for seniors who might otherwise require nursing home care, funded primarily through Medicare and Medicaid. The company continues to enhance its services with new technologies, PACE-customized electronic medical records, in-house dental and behavioral health care, Medicaid enrollment assistance, and 24/7 support. With proposed federal legislation including the PACE Anytime and Elizabeth Dole Acts, InnovAge aims to expand access to more eligible seniors.