Innovage Holding Corp.
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Innovage Holding Corp. - overview
Established
1969
Location
Denver, CO, US
Primary Industry
Healthcare
About
Based in the US, InnovAge specializes in providing comprehensive senior care solutions that enable elderly individuals to live independently at home, utilizing the PACE (Program of All-Inclusive Care for the Elderly) model. InnovAge Holding Corp. is a provider of senior care that primarily offers the PACE model, facilitating healthcare services for seniors. Founded in 1969, the company is headquartered in Denver, US.
The founder is Kris Hallock, and notable leaders include CEO John Sims and other executives such as Marion Shipley and Masayuki Takayama. In July 2020, Apax Partners acquired a 49% stake in InnovAge for USD 465. 5 million, while Welsh, Carson, Anderson & Stowe retained a 49% stake in the company. In March 2021, InnovAge raised USD 350.
07 million in an IPO, selling 16. 67 million shares at USD 21 per share on the Nasdaq under the ticker "INNV. "InnovAge is a leading provider of the PACE (Program of All-Inclusive Care for the Elderly) model, designed to enable seniors to live independently at home rather than in nursing facilities. The company’s core offerings encompass personalized medical care, social support, and essential services tailored to the needs of seniors.
InnovAge serves eligible seniors across several states, including California, Colorado, Florida, New Mexico, Pennsylvania, and Virginia, ensuring access to critical support and care in their communities. InnovAge generates revenue primarily through the PACE program, employing a capitated payment model from Medicare and Medicaid. The company received a fixed monthly payment for each enrolled participant, covering a comprehensive range of healthcare services. For the most recent year, InnovAge reported a revenue of USD 763.
86 mn for 2024 with an EBITDA of USD -3. 80 mn. InnovAge aims to expand its services and geographic reach, focusing on launching new products and enhancing its current offerings. The recent funding from the Secondary Buyout in July 2020 will support these initiatives.
The company is targeting expansion into additional markets to enhance service accessibility for seniors. This strategic growth plan is part of InnovAge's commitment to improving quality of care and ensuring that more elderly individuals can benefit from its comprehensive services.
Current Investors
Apax Partners, Welsh, Carson, Anderson & Stowe
Primary Industry
Healthcare
Sub Industries
Home Healthcare, Nursing Homes & Assisted Living
Website
www.innovage.com/
Company Stage
Mature
Total Amount Raised
Subscriber access only
Innovage Holding Corp. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IPO | Completed | Innovage Holding Corp. | - | ||||||||
| Secondary Buyout | Completed | Innovage Holding Corp. | - | ||||||||
| Growth | Completed | Innovage Holding Corp. | - |
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