/C O R R E C T I O N -- InnovAge/

In the news release, All-Female Executive Team Drives InnovAge's Growth, issued 13-Jun-2019 by InnovAge over PR Newswire, we are advised by the company that the subheadline should say "Two Years" instead of "One Year" as originally issued inadvertently. The complete, corrected release follows:

All-Female Executive Team Drives InnovAge's Growth

Pioneering Company Expands Nationally, Nearly Doubling Enrollment, Centers and Staff in Two Years

DENVER, June 13, 2019 /PRNewswire/ -- The United States' senior population continues to grow faster than any demographic group, and InnovAge, the largest provider of the Program of All-inclusive Care for the Elderly (PACE) based on people served, continues to expand. Under the guidance of an all-female leadership team, InnovAge has nearly doubled its enrollment, staff and facilities, with more plans for growth.

"For more than 20 years, PACE has been the core of InnovAge's business," InnovAge CEO Maureen Hewitt said. "Our passion and mission are to help the most vulnerable seniors age in their own homes with dignity. I am fortunate to work alongside an executive team that is helping make this a reality for seniors across the country."

PACE is an alternative to nursing homes and is designed to keep seniors living in their own homes and communities for as long as safely possible. PACE-eligible seniors receive coordinated healthcare and social engagement at a center near their home. Included in the program is primary and preventive care, specialty care, dentistry and audiology, social work, physical, occupational and speech therapy, home and personal care, behavioral health, nutritional assessments, and prescription medications. Participants also receive transportation to and from their homes to the InnovAge PACE center as well as approved specialty health care appointments.

Since the U.S. government launched PACE in the 1970s, the program has grown to serve less than 50,000 frail seniors in 31 states. There are currently 1.8 million seniors dually eligible for Medicare and Medicaid living in a community served by PACE. Combined with the hundreds of thousands who could pay out of pocket for PACE, the opportunity and the need are staggering. 

"InnovAge is committed to expanding PACE to serve more seniors in more communities," Hewitt said. "More than 80 percent of seniors want to stay in their homes as they age and PACE is one of the few truly integrated healthcare programs that supports this very personal goal."

Within the last year alone, InnovAge has grown:

• From 3,500 seniors enrolled in PACE to nearly 6,000
• From 1,200 employees to nearly 2,000
• From nine PACE centers in four states to 16 centers in five states.

Future growth plans include a new PACE center in Sacramento, California, InnovAge also has plans to launch other PACE centers throughout California and is currently pursuing a number of joint ventures and acquisitions throughout the U.S. The company's growth accelerated in 2016 when InnovAge was purchased by Welsh, Carson, Anderson & Stowe, one of the largest and most respected healthcare-focused private equity firms in the country. The partnership has allowed InnovAge to expand quality PACE services across the country quickly and efficiently to frail seniors who can benefit from the care model 

About InnovAge.

InnovAge's mission is to help seniors live life on their terms by aging in place, in their own homes and communities, for as long as safely possible. The company's primary focus is the Program of All-inclusive Care for the Elderly, or PACE. Based in Denver, Colorado, InnovAge serves more participants than any other PACE provider in the U.S., caring for nearly 6,000 seniors. InnovAge employs approximately 2,000 professionals at 16 PACE centers in California, Colorado, New Mexico, Pennsylvania and Virginia. Established in 2001, InnovAge remains committed to expanding PACE to provide the best possible care to seniors throughout the country. For more information, visit www.MyInnovAge.com.

Contact:
Sarah Stavros
Director of Marketing, InnovAge
[email protected]
303.300.6904

SOURCE InnovAge