Home Health & Hospice Week
Largest U.S. PACE Provider Goes Public, Raising $350 Million
The nation’s largest PACE provider has made its Initial Public Offering. Denver-based InnovAge sold 16.7 million shares at $21 each, above its expected price range of $17 to $19, raising $350 million, reports Barrons.com. At press time, the stock was trading at $24.95 per share. The successful IPO comes despite InnovAge reporting $40.2 million in losses for the six months ended Dec. 31, compared with $5.8 million in profit for the same period in 2019, Barrons notes. Private equity firms Welsh, Carson, Anderson and Apax Partners will own 86 percent of InnovAge after going public. InnovAge currently serves about 6,600 participants across 17 centers in five states, it says in a release. The Program of All-Inclusive Care for Elderly aims to keep seniors safely at home and out of nursing homes by coordinating and furnishing medical and social services via a PACE center.
Home Health & Hospice Week
- COVID-19 Vaccination:
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Largest U.S. PACE Provider Goes Public, Raising $350 Million
The nation’s largest PACE provider has made its Initial Public Offering. Denver-based InnovAge sold 16.7 [...] - Industry Notes:
New HH Advocacy Group Includes Amazon Health
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Accountant Arrested In Relation To Client's Fraud Scheme In Texas
A recent $134 million fraud case in Houston serves as a stark reminder that it’s [...]
