InnovAge Receives Private Equity Investment from Welsh, Carson, Anderson & Stowe

InnovAge, a Denver, OK-based provider of high-quality senior care programs and services, received a private equity investment from Welsh, Carson, Anderson & Stowe (WCAS).

Led by Maureen Hewitt, President and CEO, InnovAge operates the Program of All-Inclusive Care for the Elderly (PACE), in-home care services, healthcare and day programs, care management services, memory loss programs and affordable senior housing.

The net proceeds of the sale of InnovAge assets, which totals $196m (with a potential $8m earn out in 2018), will be used to create and fund the newly formed The NextFifty Initiative, an independent, Colorado-based nonprofit organization dedicated to funding senior care related initiatives that improve community services for the elderly population and caregivers.

FinSMEs

16/05/2016