InnovAge (Nasdaq: INNV), a Program of All-Inclusive Care for Elderly (PACE) provider, officially went public Thursday. Denver-based InnovAge offers one of the largest PACE programs in the U.S. The company has about 1,900 employees and serves 6,600 seniors in Colorado, New Mexico, California, Pennsylvania and Virginia. In addition to its PACE offerings, InnovAge owns two […]
The largest Program of All-Inclusive Care for the Elderly (PACE) provider in the United States is reportedly getting another major investor. On Friday, reports surfaced that London-based private equity firm Apax Partners plans to buy a stake in InnovAge from fellow PE giant Welsh, Carson, Anderson & Stowe (WCAS). Apax Partners’ deal for a piece […]
In one of the latest sets of COVID-19 directions for Medicare providers, the U.S. Centers for Medicare & Medicaid Services (CMS) unveiled updated guidelines for all Programs of All-Inclusive Care for the Elderly (PACE) organizations on Tuesday. Broadly, CMS’s guidelines cover standard procedures for infection control and prevention for COVID-19, also known as the coronavirus. […]
InnovAge Converts to For-Profit to Fund The NextFifty Initiative InnovAge, a Denver, Colorado-based provider of in-home care services, affordable senior housing and other health care and day programs, has finalized an agreement with private equity firm Welsh, Carson, Anderson & Stowe (WCAS) to expand its services and convert from a non-profit entity to a for-profit. […]
During the pandemic, some senior care models succeeded, and some didn’t. The Program of All-Inclusive Care for the Elderly (PACE) was one that did. In 2023, PACE enrollment exceeded 70,000 participants and has seen an over 40% growth in enrollment since 2019. Many home-based care providers have already gotten into PACE. The Jacksonville-based Alivia Care […]
Sharecare Inc. (Nasdaq: SHCR) – a large digital health company that owns the home-based care coordinator CareLinx – confirmed last week that it had received an unsolicited acquisition proposal from Claritas Capital. Specifically, Claritas Capital’s proposal included an acquisition of all of the outstanding shares of Sharecare common stock “for cash consideration of between $1.35 […]
The Program of All-Inclusive Care for the Elderly (PACE) model performed especially well amid the COVID-19 emergency. Building off of that momentum, it’s likely that the model will continue to make inroads throughout 2022. “What a great world we’re in for PACE expansion — I think it started with COVID,” Jade Gong, founder and principal […]
The Program of All-Inclusive Care for the Elderly (PACE) model was ahead of its time. Created close to a half century ago, it fits extremely well with the health care issues that seniors are facing in 2021. There are currently 140 PACE programs operating 272 PACE centers across the U.S., serving 55,000 total participants, according […]
ModivCare expands into remote patient monitoring ModivCare Inc. (Nasdaq: MODV), a diversified health care services company with a large personal care business, has signed an agreement to acquire VRI Intermediate Holdings LLC, a provider of remote patient monitoring solutions. Under terms of the agreement, the Denver-based ModivCare will acquire 100% of VRI for a purchase […]
One of the most active private equity firms in the senior care space is launching a new portfolio company dedicated to value-based care. Welsh, Carson, Anderson & Stowe (WCAS) announced the formation of Valtruis on Tuesday, along with an initial capital commitment of $300 million. Spearheaded by a founding leadership team that includes managing partners […]
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