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.
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.
InnovAge Holding Corp. (Nasdaq: INNV) appointed Patrick Blair as President, effective Dec. 1, 2021. Blair will manage operations and implement growth plans, which include opening three new sites in fiscal year 2023. He brings extensive experience from leadership roles in healthcare, including BAYADA Home Health Care and Anthem. The board expressed confidence in Blair's ability to enhance InnovAge's operational capabilities and drive profitable growth in the senior healthcare market. As of September 30, 2021, InnovAge serves nearly 7,000 participants across 18 centers in five states.
InnovAge Holding Corp. (Nasdaq: INNV) has received approval from Indiana to launch a Program of All-Inclusive Care for the Elderly (PACE) in Terre Haute, expanding its service area and potentially benefiting 79% of eligible seniors in the state. The new center is expected to open in fiscal year 2024, aiming to enroll over 600 seniors and create 100 local healthcare jobs. InnovAge's analysis estimates around 3,000 PACE-eligible seniors in the region by 2026, enhancing its footprint in the senior care market amidst increasing demand.
InnovAge Holding Corp. (Nasdaq: INNV) reported fiscal Q1 2022 results, highlighting total revenues of $173.1 million, reflecting a 13.4% year-over-year increase. The number of participants grew by 7.2% to 6,990. Center-level contribution margin reached $42.3 million, a 4.3% increase, though as a percentage of revenue, it declined by 2.2 percentage points due to normalized medical costs. Net income stood at $7.6 million compared to a loss of $49.8 million a year prior. InnovAge confirmed its fiscal 2022 guidance, projecting revenues between $712 million and $725 million.
InnovAge Holding Corp. (Nasdaq: INNV) will announce its fiscal Q1 2022 financial results on November 9, 2021, post-market close. A conference call will follow at 5 p.m. E.T. for analysis and discussion of the results. Participants can join by calling U.S. number (833) 398-1024 or international number (914) 987-7722, using code 8193149. InnovAge focuses on managing care for high-cost, dual-eligible seniors, serving around 6,850 participants across 18 centers in five states as of June 30, 2021. The company aims to enhance quality care while reducing high-cost care utilization.
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