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 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.
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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.
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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.
InnovAge Holding Corp. (Nasdaq: INNV) is set to release its 2021 third-quarter financial results on May 10, 2021, post-market close. A conference call will follow at 5 p.m. E.T., where detailed insights into the results will be provided. The company serves approximately 6,600 dual-eligible seniors across 17 centers in five states, focusing on value-based senior healthcare. InnovAge collaborates directly with government payors like Medicare and Medicaid, aiming to enhance participant care while minimizing the use of costly care settings.
InnovAge Holding Corp. (Nasdaq: INNV) has appointed Alice Raia as chief information officer, effective April 2021. Raia, with over 25 years of experience in healthcare and technology, will spearhead InnovAge’s strategy for data management and digital technologies, enhancing patient care. InnovAge, a leader in the PACE industry, aims to improve customer engagement and patient outcomes through technological advancements. With the increasing demand for senior care services, Raia's expertise will be critical in maintaining InnovAge's competitive edge in healthcare technology integration.
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