DENVER, June 30, 2021 —
InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV) today announced the opening of its new Program of All-inclusive Care for the Elderly (PACE) center in Virginia's Roanoke Valley. The state-of-the-art center, located at 1606 Lynchburg Turnpike in Salem, will enable InnovAge to serve more seniors than the Company’s previous facility in Roanoke.
An alternative to nursing homes, PACE is a proven care delivery model in which participants receive comprehensive health services, social support, medication management, transportation and meals, among other services. InnovAge’s centers serve as hubs where seniors receive these crucial care services under one roof, allowing them to live life on their own terms: independently and in their own homes, for as long as safely possible. InnovAge has been providing PACE services in the Roanoke Valley since 2017 and also operates centers in other Virginia communities in Charlottesville, Richmond and Newport News.
“The need for caregiver and health services for older Americans is growing. As we transition out of the COVID-19 pandemic, frail seniors and their families, more than ever, are looking to enjoy life in the safety of their own homes and communities,” said InnovAge president and CEO Maureen Hewitt. “We bring a deep passion for geriatric care to our work, and our new Roanoke center will enhance our ability to provide participants with personalized care and guide them through every aspect of the aging journey.”
The new InnovAge PACE center is 25,242 square feet and can serve approximately 430 seniors. The previous center was limited to a capacity of 210. InnovAge owns the property at the new location, and designed and constructed the building from ground up. It features five clinical exam rooms, including one that is designated for use by outside specialty providers; and four day rooms, all of which open to a large connected and secure patio. One of the day rooms is designated specifically for memory care. Other features include a dental suite, larger warming kitchen, therapy area, and personal care areas, as well as improved administrative areas.
Roanoke-area seniors and family caregivers can connect with and learn more from an InnovAge care expert at www.InnovAge.com
InnovAge is a market leader in managing the care of high-cost, dual-eligible seniors. Our mission is to enable seniors to age independently in their own homes for as long as possible. Our patient-centered care model meaningfully improves the quality of care our participants receive, while reducing over-utilization of high-cost care settings. InnovAge is at the forefront of value based senior healthcare and directly contracts with government payors, such as Medicare and Medicaid, to manage the totality of a participant’s medical care. InnovAge believes its healthcare model is one in which all constituencies - participants, their families, providers and government payors - “win.” InnovAge currently serves approximately 6,700 participants across 18 centers in five states.