NEWS RELEASE

InnovAge Announces Intent to Acquire NewCourtland LIFE Program

InnovAge has signed a Letter of Intent (LOI) with NewCourtland Senior Services to purchase the NewCourtland LIFE Program in Pennsylvania. The Living Independence for the Elderly (LIFE) is an alternative to nursing homes and is designed to keep seniors living in their own homes and communities for as long as safely possible. Participants in LIFE are primarily dually eligible for both Medicare and Medicaid. The LIFE program is known nationally as the Program of All- inclusive Care for the Elderly (PACE).

The NewCourtland LIFE programs included in the LOI are located in Allegheny, Roosevelt Plaza and Germantown, and currently serve nearly 600 seniors.

“For more than 20 years, PACE/LIFE has been the core of our business,” said Maureen Hewitt, InnovAge president and chief executive officer. “Our passion and mission at InnovAge is to provide services to the most vulnerable seniors to help them age in their own homes with dignity. We look forward to bringing LIFE to more eligible seniors in Pennsylvania.” 

“The healthcare delivery system is changing, in Philadelphia and nationwide,” said Gail Kass, NewCourtland Senior Services president and chief executive officer. “Our decision to transfer ownership to InnovAge is consistent with our history of responding to the changing needs of aging seniors.”  

InnovAge currently serves almost 4,000 PACE participants and is the largest PACE provider in the U.S. based on participants served. The company currently operates nine PACE centers in four states. 

About InnovAge 
InnovAge is the largest U.S. provider of the Program of All-inclusive Care for the Elderly (PACE) based on participants served. The company is committed to empowering seniors and caregivers by creating a personalized roadmap for aging based on an individual’s unique and evolving needs. InnovAge has supported and cared for thousands of seniors since 2001 and currently operates in California, Colorado, New Mexico, and Virginia, with more than 1,300 employees. InnovAge is headquartered in Denver, Colorado. For more information, visit www.MyInnovAge.com

About NewCourtland Senior Services 
NewCourtland Senior Services is a Philadelphia-based, non-profit organization that provides thousands of low-income seniors with affordable housing, healthcare, and supportive services which are customized to meet each individual’s unique needs. Over the next fifteen years, NewCourtland has plans to address the growing need for affordable senior housing by building 2000 units for seniors.  To learn more, visit www.NewCourtland.org or call 1-888-530-4913.