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 (INNV) operates a specialized healthcare platform delivering integrated care for seniors through the PACE program. This page aggregates official company announcements, financial disclosures, and operational updates for investors and industry observers.
Access timely press releases covering earnings reports, care model innovations, regulatory developments, and strategic partnerships. Our curated collection helps stakeholders track INNV's performance in senior care markets while monitoring implementation of their capitated payment model.
Key updates include Medicare/Medicaid compliance changes, center expansions, clinical quality improvements, and leadership announcements. Bookmark this page for centralized access to verified InnovAge communications, maintained with neutral reporting standards.
Glancy Prongay & Murray LLP has announced a class action lawsuit for investors of InnovAge Holding Corp (NASDAQ: INNV) who have suffered substantial losses since its IPO in March 2021. The lawsuit arises from allegations that InnovAge failed to disclose critical information regarding its service quality and regulatory scrutiny, potentially leading to suspension of new enrollments by the Centers for Medicare and Medicaid Services. Interested investors can submit their contact information to participate, with a lead plaintiff deadline set for December 13, 2021.
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.
InnovAge Holding Corp. (Nasdaq: INNV) announced strong fiscal fourth quarter and full-year financial results for the year ending June 30, 2021. Total revenues reached $637.8 million, a 12.5% increase year-over-year, driven by a census growth of 7.4% to approximately 6,850 participants. However, the company reported a net loss of $44.7 million for the year. Adjusted EBITDA rose by 29.5% to $85.3 million. InnovAge plans to open new centers in fiscal 2023 and has achieved high vaccination rates among participants and employees. The company projects total revenues between $712 and $725 million for fiscal year 2022.
InnovAge Holding Corp. (Nasdaq: INNV) will announce its fiscal 2021 fourth quarter and year-end financial results on September 21, 2021, after the market closes. A conference call to discuss the results is scheduled for 5 p.m. E.T. Participants can join by dialing (833) 398-1024 for U.S. callers or (914) 987-7722 internationally, using participant code 3506946. InnovAge, a leader in managing care for dual-eligible seniors, aims to enhance care quality while reducing costs through a value-based healthcare model.
InnovAge Holding Corp. (Nasdaq: INNV) announced an equity investment in Jetdoc, a telehealth platform, aiming to enhance virtual healthcare services. The investment aligns with an increased demand for telehealth, which is 38 times higher than pre-pandemic levels, per McKinsey. InnovAge plans to collaborate with Jetdoc to develop a virtual care platform specifically for the Program of All-Inclusive Care for the Elderly (PACE). InnovAge's CEO noted the importance of telehealth for seniors, while Jetdoc's CEO emphasized improved access for vulnerable patients.
InnovAge has launched a new PACE center in Virginia's Roanoke Valley, increasing its capacity to serve seniors from 210 to approximately 430. The 25,242 square-foot facility offers comprehensive care services, including health services, social support, and transportation. InnovAge aims to facilitate independent living for seniors, enhancing their quality of life post-COVID-19. This center contributes to InnovAge's mission of managing high-cost care for dual-eligible seniors, reinforcing its leadership in value-based healthcare.
InnovAge Holding Corp. (Nasdaq: INNV) announced its participation in two prominent healthcare conferences. CEO Maureen Hewitt and CFO Barb Gutierrez will engage in a virtual fireside chat at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 5:00 p.m. (ET) and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 8-9, 2021. InnovAge specializes in healthcare delivery for high-cost, dual-eligible seniors, serving about 6,700 participants across 18 centers in five states.
InnovAge Holding Corp. (Nasdaq: INNV) reported its fiscal third-quarter results for 2021, showcasing net revenue of $156.3 million, an 8% increase from the previous year. Center level contribution rose by 20% to $41.4 million, with a margin of 26.5%. Despite a net loss of $10.9 million due to acquisition-related costs, adjusted EBITDA improved by 15% to $20.3 million. The company anticipates Q4 revenues between $160 million and $162 million, with full fiscal year 2021 revenues projected at $626 million to $628 million.
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