Welcome to our dedicated page for Innovage Holding news (Ticker: INNV), a resource for investors and traders seeking the latest updates and insights on Innovage Holding stock.
InnovAge Holding Corp. (Nasdaq: INNV) is a healthcare company that manages the care of high-cost, frail, and predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). The InnovAge news feed on Stock Titan highlights company announcements that reflect its role in senior care and its position as a market leader in PACE based on participants served.
News about InnovAge frequently covers financial results, including quarterly and annual earnings releases, updates on census (participants served), and guidance ranges for total revenues and Adjusted EBITDA. These items are often accompanied by Form 8-K filings and investor conference calls, giving context on how the business is performing and how management views its progress.
Investors and observers can also follow corporate developments such as leadership appointments in clinical and administrative roles, joint ventures, and strategic collaborations. For example, InnovAge has announced a joint venture involving its Florida PACE center in Tampa with Tampa General Hospital, aimed at expanding community-based care options for seniors. Other updates include participation in major healthcare conferences and recognition such as recertification as a Great Place to Work®.
The news stream additionally features mission- and advocacy-related activities, such as InnovAge’s sponsorship of a PBS documentary on caregiving, which aligns with its focus on supporting seniors and caregivers. Together, these updates provide a view into how InnovAge operates its PACE model, interacts with government payors and community partners, and communicates with shareholders. Bookmarking this page allows readers to monitor new earnings releases, governance updates, and strategic announcements related to INNV.
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InnovAge Holding Corp. (Nasdaq: INNV) announced it will release its 2023 fiscal third quarter financial results on May 9, 2023, after market close. A conference call to discuss the results will take place at 5 p.m. E.T. on the same day.
InnovAge specializes in providing healthcare programs for frail seniors who are dual-eligible for Medicare and Medicaid via the Program of All-Inclusive Care for the Elderly (PACE). As of December 31, 2022, the company served approximately 6,460 participants across 18 centers in five states.
InnovAge Holding Corp. (Nasdaq: INNV) announced the appointment of Patty Fontneau to its Board of Directors, effective immediately. This change follows the departure of Pavithra Mahesh and Caroline Dechert, which retains investment firm representation while adding independent voices. Chairman Jim Carlson emphasized Fontneau's extensive payor-side experience and leadership in healthcare services as crucial for enhancing the Board's capabilities. Fontneau, currently the CEO of Reach Out and Read Colorado, has significant experience from her leadership roles with Cigna and Colorado’s health insurance marketplace. As of December 31, 2022, InnovAge serves approximately 6,460 seniors across five states.
InnovAge Holding Corp. (Nasdaq: INNV) has appointed Christine Bent as its new Chief Operations Officer effective March 20, 2023. Bent, who brings extensive experience in healthcare management, will oversee operations at existing PACE centers and the development of new programs in different markets. InnovAge’s CEO, Patrick Blair, emphasized the importance of sustaining operational gains and ensuring responsible growth. With a mission to provide quality care to frail dual-eligible seniors, InnovAge currently serves about 6,460 participants across 18 centers in five states.
InnovAge Holding Corp. (Nasdaq: INNV) reported financial results for its fiscal second quarter ending December 31, 2022. Total revenues were $167.5 million, down 4.5% from $175.4 million year-over-year. The company faced a net loss of $10.5 million, contrasting with a net income of $1.1 million in the same period last year. Adjusted EBITDA also fell to negative $2.0 million, compared to $14.8 million previously. The Center-level Contribution Margin decreased significantly by 45.4%, now at $22.6 million. As of the quarter's end, InnovAge held $99.5 million in cash and equivalents, with $84.6 million in debt, reflecting ongoing financial challenges.
InnovAge Holding Corp. (Nasdaq: INNV) is set to announce its fiscal second quarter financial results on February 7, 2023, after market close. This will be followed by a conference call at 5 p.m. E.T. which will be made available via live audio webcast on the company’s website. InnovAge specializes in managing care for high-cost, dual-eligible seniors through the PACE program. As of September 30, 2022, the company serves approximately 6,540 participants across 18 centers in five states, aiming to improve care quality while minimizing high-cost care settings.
InnovAge Holding Corp. (Nasdaq: INNV) announced the release of enrollment sanctions for its six Colorado centers by the Centers for Medicare & Medicaid Services (CMS) and the Colorado Department of Healthcare Policy and Finance (HCPF). This allows the company to resume enrolling eligible Colorado seniors into its Program of All-Inclusive Care for the Elderly (PACE) across its centers. InnovAge previously faced sanctions, but following corrective actions and monitoring, it aims to enhance care quality. The company had also received a sanction release for its Sacramento center in November 2022 and is awaiting further actions from California's health authorities.