InnovaCare Health Receives Majority Investment from Bain Capital Private Equity

InnovaCare Health, a Lake None, Fla.-based provider of integrated and value-based healthcare services, received a majority investment from Bain Capital Private Equity.

The amount of the deal was not disclosed.

The company intends to use the funds to scale its physician-led model to enter key markets nationwide.

Led by President and CEO Dr. Richard Shinto, CFO Doug Malton and the current management team, who will retain significant ownership in the business, InnovaCare combines physician-led care models with technology and a focus on personalized, coordinated care to manage and improve the health of patient populations. Its integrated primary care provider network treats more than 250,000 patients annually, and the company also supports physicians who collectively serve more than 27,000 Medicare Advantage members.

Summit Partners, which has been an investor in InnovaCare since 2019, will also retain equity ownership in the company.