Innovage Holding Corp. Stock Price, News & Analysis

LogicMark, Inc. (LGMK) announced the appointment of Barbara Gutierrez to its Board of Directors, where she will lead the Audit Committee. With over 30 years of financial leadership experience, Gutierrez is currently the CFO of InnovAge Holding Corp. (INNV) and brings extensive expertise in capital transactions and strategic planning. CEO Chia-Lin Simmons highlighted her pivotal role in enhancing the company's B2B focus and the broader care economy. LogicMark aims to redefine its position with innovative technologies and substantial market opportunities.

InnovAge Holding Corp. (Nasdaq: INNV) reported its fiscal Q3 results for the period ending March 31, 2022, with revenues of $177.4 million, up 13.5% year-over-year. The company’s participant census increased by 2.1% to approximately 6,800. However, net loss improved to $3.2 million compared to $10.9 million a year earlier. Center-level contribution margin decreased by 32.3%, and adjusted EBITDA dropped to $1.9 million from $20.3 million in Q3 2021. Dr. Melissa Welch announced her departure as Chief Medical Officer, with Dr. Ann M. Wells stepping in temporarily.

InnovAge Holding Corp. (Nasdaq: INNV) will release its 2022 fiscal third quarter financial results on May 10, 2022, after market close. A conference call will follow at 5 p.m. E.T. to discuss the results, accessible via phone and an audio webcast. InnovAge, a leader in managing care for high-cost, dual-eligible seniors, serves around 7,050 participants across 18 centers in five states. The company emphasizes a patient-centered care model, aiming to enhance care quality while minimizing high-cost care utilization.

InnovAge Holding Corp. (Nasdaq: INNV) announced participation in the 2022 Citi Virtual Healthcare Conference on February 23, 2022, featuring CEO Patrick Blair and CFO Barb Gutierrez. The event includes a live webcast of their fireside chat at 10:15 a.m. (ET). InnovAge specializes in comprehensive healthcare for dual-eligible seniors, encouraging independent living. As of December 31, 2021, the company served approximately 7,050 participants across 18 centers in five states, emphasizing a patient-centered care model that reduces reliance on costly care settings.

InnovAge Holding Corp. (Nasdaq: INNV) reported its fiscal second quarter results for the period ending December 31, 2021. The company achieved $175.4 million in revenue, a rise of 11.5% year-over-year, with a census of approximately 7,050 participants. Despite positive revenue growth, net income decreased to $1.1 million from $9.6 million in the prior year, attributed to rising medical costs and increased administrative expenses. Adjusted EBITDA also fell to $14.8 million from $22.6 million.

InnovAge Holding Corp. (Nasdaq: INNV) is set to release its 2022 fiscal second quarter financial results on February 9, 2022, after market close. Following the release, a conference call will be held at 5 p.m. E.T. to discuss the results. The call can be accessed by dialing (833) 398-1024 for U.S. participants or (914) 987-7722 for international participants, using participant code 9797448. InnovAge specializes in managing care for high-cost, dual-eligible seniors, serving approximately 6,990 participants across 18 centers in five states as of September 30, 2021.

InnovAge Holding Corp. (Nasdaq: INNV) announces the resignation of CEO Maureen Hewitt, effective January 1, 2022, after 15 years with the company. The Board has appointed Patrick Blair, previously President, as the new CEO. Blair aims to restore trust with regulators while enhancing the PACE program, a senior healthcare model. The company serves nearly 7,000 participants across five states, focusing on high-quality, cost-effective care for dual-eligible seniors. Board Chair Andrew Cavanna emphasizes Blair's leadership experience in healthcare as crucial for addressing current challenges.

InnovAge Holding Corp. (Nasdaq: INNV) announced that the Centers for Medicare and Medicaid Services (CMS) has sanctioned its Colorado centers due to deficiencies found in a recent audit. As a result, CMS has suspended new enrollments until the Company resolves these deficiencies, which include inadequate service delivery and care coordination. The Colorado Department of Health Care Policy and Financing is also issuing sanctions. Consequently, InnovAge is withdrawing its fiscal year 2022 guidance while it evaluates options to appeal the sanctions. As of Sept. 30, 2021, the Company serves approximately 6,990 participants across 18 centers.

InnovAge Holding Corp. (Nasdaq: INNV) announced that CEO Maureen Hewitt will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 8:15 p.m. (ET). The event will feature a virtual fireside chat with key executives, including Patrick Blair, President, and Barb Gutierrez, CFO. InnovAge specializes in delivering comprehensive healthcare programs tailored for frail, dual-eligible seniors, aiming to enhance care quality while minimizing costs. As of September 30, 2021, the company served approximately 6,990 participants across 18 centers in five states.