InnovAge Names Ben Adams as New Chief Financial Officer
05 Julio 2023 - 3:30PM
InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV), an industry
leader in providing comprehensive healthcare programs to
dual-eligible seniors through the Program of All-inclusive Care for
the Elderly (PACE), names Ben Adams its Chief Financial Officer
(CFO), effective July 10. Adams will lead the company's finance
organization and help position the company for responsible,
profitable growth.
Adams joins InnovAge’s executive leadership team as Barb
Gutierrez steps down from the role of CFO to explore new career
opportunities. The InnovAge team and Board of Directors
thank Ms. Gutierrez for her many years of outstanding service,
steady leadership and numerous contributions that have had a
positive impact on the participants we serve.
“Ben’s financial background and deep experience in the
healthcare services sectors is a great fit for InnovAge as we
continue to improve and grow our business,” said Patrick Blair,
President and CEO. “Ben brings more than 25 years of healthcare
finance experience, including executive operational leadership,
strategy development and implementation, and transaction execution.
This experience will serve us well as we continue to care for more
seniors, improve operating performance and expand our capabilities
as both a care provider and payor.”
“We are very excited to have Ben join the InnovAge executive
team,” said Jim Carlson, Chairman of the InnovAge Board of
Directors. “Ben brings a deep financial skill set, broad industry
experience and a professional reputation that makes him an ideal
fit for InnovAge’s CFO.”
"I am thrilled to be joining InnovAge as it continues to expand
its PACE offerings which enable seniors to age in the place of
their choosing while being supported by outstanding
patient-centered care,” said Adams. “I look forward to working with
Patrick Blair and the entire leadership team as we work to
collaboratively position the company for continued delivery of its
mission.”
Adams brings nearly three decades of healthcare finance
experience to InnovAge, including most recently as the CFO of
Kepro, a physician-led, technology-enabled company that facilitates
care for priority populations to help them remain in the home or
community of their choice. Prior to Kepro, Adams served as CFO of
RxSense, LLC, which provides direct to consumer pharmacy discount
programs and B2B technology solutions to a broad range of pharmacy
benefit providers. Earlier in his career, Adams was a senior health
care investment banker for more than two decades. Adams has a B.A.
in Economics from Tufts University and an M.B.A. in Finance with
Honors from Columbia Business School.
Blair concluded, “Additionally, the entire InnovAge family
thanks Barb for her longstanding service to the company and
dedication to our mission. Barb played an instrumental role in
leading the company through our IPO and subsequent operations as a
public company. We wish her well in all her future endeavors.”
About InnovAgeInnovAge is a market leader in
managing the care of high-cost, dual-eligible seniors through the
Program of All-inclusive Care for the Elderly (PACE). With a
mission of enabling older adults to age independently in their own
homes for as long as safely possible, InnovAge’s patient-centered
care model is designed to improve the quality of care its
participants receive while reducing over-utilization of high-cost
care settings. InnovAge believes its PACE healthcare model is one
in which all constituencies — participants, their families,
providers, and government payors — “win.” As of March 31, 2023,
InnovAge served approximately 6,310 participants across 17 centers
in five states. https://www.innovage.com/.
Investor Contact:Ryan
KubotaRKubota@InnovAge.com
Media Contact:Lara
HazenfieldLhazenfied@InnovAge.com
Forward-Looking Statements – Safe Harbor
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: “anticipate,”
“intend,” “plan,” “believe,” “project,” “estimate,” “expect,”
“may,” “should,” “will” and other words and terms of similar
meaning that they do not relate strictly to historical or current
facts. Examples of forward-looking statements include, statements
regarding our expectations with respect to the Company’s new Chief
Financial Officer; the effective transition and readjustment of
responsibilities within the Company; and our expectations with
respect to the Company’s ability to improve and grow. Important
factors that could cause actual results to differ materially from
those indicated in the forward-looking statements include, among
others, failure to execute an orderly Chief Financial Officer
transition; the impact of the transition on the Company, its
employees and its suppliers; the viability of, and/or our failure
to execute, our business strategy and our ability to realize
expected results; and other risk factors identified in our SEC
reports, including, our most recent Annual Report on Form 10-K and
any subsequent Quarterly Report on Form 10-Q, in each case, as
filed with the SEC.
Any forward-looking statement made by the Company is based on
information currently available to us. Except as required by law,
we undertake no obligation to publicly update any forward-looking
statement, whether written or oral, whether as a result of new
information, future developments or otherwise.
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