DENVER, Nov. 05, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge” or the “Company”) (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), today announced financial results for its fiscal first quarter ended September 30, 2024. “Our first quarter results reflect our continued momentum and the execution of our strategy to deliver high quality care, while contin ...

Core Viewpoint - InnovAge Holding Corp. has appointed Michael Scarbrough as the new President and Chief Operating Officer, and Maria Lozzano as President of Pharmacy Services, effective November 4, 2024, to enhance its leadership and strategic execution [1][2]. Leadership Changes - Michael Scarbrough joins InnovAge's executive team following Christine Bent's departure from the COO role to pursue new opportunities [2] - The separation of the President and CEO roles aims to better facilitate the execution of the company's strategic priorities [2] - Maria Lozzano has been promoted to President of Pharmacy Services, previously serving as Senior Vice President and Chief Business Development Operations Officer [4] Executive Backgrounds - Michael Scarbrough brings over 30 years of healthcare experience, including leadership roles at Optum at Home and Prospero Health, focusing on Medicaid populations and care delivery models [3] - Scarbrough's experience includes managing services for 800,000 Medicare Advantage D-SNP members and co-founding a company that provided home-based advanced care [3] - Maria Lozzano has nearly eight years of experience at InnovAge and previously held leadership positions at VNA of California and Premier Infusion Care [4][5] Company Overview - InnovAge is a leader in managing care for dual-eligible seniors through the PACE program, aiming to improve care quality while reducing high-cost care utilization [5] - As of June 30, 2024, InnovAge served approximately 7,020 participants across 20 centers in six states [5]

InnovAge Holding Corp. (INNV) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be release ...

DENVER, Oct. 11, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. ("InnovAge") (Nasdaq: INNV), a leading Program of All-inclusive Care for the Elderly (PACE) provider, plans to highlight its ongoing clinical, operational, and business transformations at the 2024 National PACE Association (NPA) Conference. As the nation's largest provider of PACE by number of participants, InnovAge provides coordinated and integrated care across a range of physical, medical, and social services. This ensures eligible seniors ...

DENVER, Sept. 16, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by InnovAge Holding Corp. ("InnovAge") (Nasdaq: INNV), please note that in the fifth paragraph of the release, the title for Dr. Ann Wells has been corrected to Chief Quality and Population Health Officer of InnovAge. The updated release follows: InnovAge Holding Corp. ("InnovAge") (Nasdaq: INNV), a leading Program of All-inclusive Care for the Elderly (PACE) provider, has been selected as a research partner ...

Core Insights - InnovAge Holding Corp. has been selected as a research partner for a national study aimed at preventing falls among seniors, coinciding with National PACE Awareness Month and Falls Prevention Month [1][4] - Falls are the leading cause of injury and death among older adults, with one in four adults aged 65 and older experiencing a fall each year, highlighting the importance of InnovAge's proactive measures [2] - InnovAge participants experience 16% fewer falls than the National PACE Association's estimated average due to comprehensive care and personalized interventions [2] Company Overview - InnovAge is a leading provider of the Program of All-inclusive Care for the Elderly (PACE), focusing on enabling seniors to age safely in their homes and communities [3][5] - The company serves approximately 7,020 participants across 20 centers in six states as of June 30, 2024, emphasizing its role in managing care for high-cost, frail, and predominantly dual-eligible seniors [5] - InnovAge's patient-centered care model aims to improve care quality while reducing the over-utilization of high-cost care settings, benefiting participants, families, providers, and government payors [5] Research and Development - The study, in collaboration with LeaHD and several universities, aims to understand the factors contributing to falls among seniors and develop tailored intervention strategies [4] - The research will also focus on improving the lives of adults living with disabilities and chronic conditions, with completion expected in October 2025 [4]

Group 1: Earnings Performance - InnovAge Holding Corp. reported a quarterly loss of $0.01 per share, better than the Zacks Consensus Estimate of a loss of $0.02, and improved from a loss of $0.09 per share a year ago, representing an earnings surprise of 50% [1] - The company posted revenues of $199.4 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.85%, compared to year-ago revenues of $176.87 million [2] - Over the last four quarters, InnovAge has surpassed consensus revenue estimates four times, but has only exceeded consensus EPS estimates once [2] Group 2: Stock Performance and Outlook - InnovAge shares have increased by approximately 4.7% since the beginning of the year, while the S&P 500 has gained 14.7% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the earnings outlook, including current consensus earnings expectations for upcoming quarters [4][6] - The current consensus EPS estimate for the coming quarter is -$0.04 on revenues of $203.95 million, with a breakeven estimate on revenues of $841.72 million for the current fiscal year [7] Group 3: Industry Context - The Medical Services industry, to which InnovAge belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]

DENVER, Sept. 10, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. ("InnovAge" or the "Company") (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail seniors, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), today announced financial results for its fiscal fourth quarter and full year ended June 30, 2024. "We outlined an ambitious agenda last year focused on quality, compliance, and operational excellence and believe w ...

Core Insights - InnovAge Holding Corp. celebrated the fourth anniversary of its Sacramento center, highlighting its growth and commitment to providing comprehensive healthcare programs for dual-eligible seniors through the PACE model [1][2][3] Company Overview - InnovAge is a leader in managing care for high-cost, frail, and predominantly dual-eligible seniors, aiming to enable older adults to age independently in their homes [4] - As of March 31, 2024, InnovAge served approximately 6,820 participants across 19 centers in six states, with the recent opening of its Orlando center bringing the total to 20 centers [4] Growth and Development - The staff at the Sacramento center has increased from 20 to meet the needs of hundreds of participants, reflecting significant growth since its inception [2] - The center offers a wide range of services including transportation, in-home care, medication management, dental care, and various therapies, all tailored to individual needs [2][3] Community Engagement - InnovAge recognized community partners that assist seniors, particularly within the Latino community and low-income families, providing counseling and support services [3] - The Sacramento PACE center features multiple facilities including day rooms, a primary care clinic, a dental suite, and a therapy gym, enhancing the service delivery to participants [3]

Core Insights - InnovAge Holding Corp. celebrated the fourth anniversary of its Sacramento center, highlighting its growth and commitment to providing comprehensive healthcare programs for dual-eligible seniors through the PACE model [1][2] Company Overview - InnovAge is a leader in managing care for high-cost, frail, and predominantly dual-eligible seniors, aiming to enable older adults to age independently in their homes [4] - As of March 31, 2024, InnovAge served approximately 6,820 participants across 19 centers in six states, with the recent opening of its Orlando center bringing the total to 20 centers [4] Growth and Development - The Sacramento center has seen significant growth, expanding from a staff of seven to over 28 to meet the needs of hundreds of participants [2] - The center features various facilities, including five day rooms, a primary care clinic with 13 exam rooms, a dental suite, and a therapy gym [3] Services Offered - InnovAge provides a wide range of integrated healthcare and support services at no cost for Medicare and MediCal-covered participants, including transportation, in-home care, medication management, and social services [2] - The program emphasizes personalized care plans developed in collaboration with seniors and their families, promoting independence and well-being [2]