InnovAge Holding has concluded the acquisition of two Programme of All-inclusive Care for the Elderly (PACE) programmes in California from ConcertoCare.
ConcertoCare runs one PACE programme in Crenshaw, Los Angeles and has another programme under development in Bakersfield. These are part of the ConcertoPACE service line.
Currently, InnovAge manages 18 PACE centres spanning five states, including the ConcertoPACE programmes.
Additionally, it has four more PACE centres under development, which includes Bakersfield.
Together, the new upcoming ConcertoPACE programmes are projected to accommodate around 750 participants once fully developed.
InnovAge CEO Patrick Blair said: “The addition of ConcertoPACE fits strongly with our multi-faceted roadmap to accelerate responsible growth while balancing our commitment to operational excellence in our existing markets.
“We look forward to deepening our presence in California and to see PACE continue as an important component of the state’s bold Master Plan for Aging which aims to ensure Californians have real solutions to help them age in place.
“I want to personally welcome the ConcertoPACE team members and participants to the InnovAge family.”
InnovAge expects an ‘immaterial’ impact of the ConcertoPACE census and results on the rest of the fiscal year ending 30 June 2024.
ConcertoCare offers tech-driven, at-home care that addresses the health and social needs of seniors and other adults.
InnovAge is focused on managing the care of seniors who are high-cost, frail, and predominantly dual-eligible. Its goal is to help older individuals live independently in their homes for as long as they remain safe.
