Maureen Hewitt, president and CEO of InnovAge, has been named Entrepreneur Of The Year® 2018 in the Services category in the Mountain Desert region by EY. The award recognizes entrepreneurs who are excelling in areas such as innovation, financial performance, and personal commitment to their businesses and communities. Hewitt was selected by an independent panel of judges, and the award was presented last night in Denver.
“The EY Entrepreneur of the Year program has brought so much value to communities throughout this region and across the country," Hewitt said. “I am honored to be among such an elite group of entrepreneurs and leaders.”
InnovAge is the largest provider in the U.S. of the Program of All-inclusive Care for the Elderly, or PACE, based on participants served. As an alternative to nursing facilities, PACE provides customized healthcare and social engagement to frail seniors to help them age in place for as long as safely possible. Participants have personalized care plans and receive most of their healthcare and social support at a local PACE center. PACE is a program of the Centers for Medicare & Medicaid Services and is funded by the federal government and participating states.
Under Hewitt’s leadership, the number of PACE participants InnovAge serves has grown from 350 seniors at three centers in Denver in 2006 to almost 4,000 seniors in nine centers across four states; and employee counts have increased from 400 to nearly 1500. When InnovAge’s growth could not continue without an infusion of capital, Hewitt led InnovAge’s conversion to for-profit status and then cemented a partnership with the largest healthcare-focused private equity firm in the country, Welsh, Carson, Anderson, & Stowe. In 2016, InnovAge was the first PACE provider to convert to for-profit status and last year, the company made its first acquisition (as a for-profit entity) of a PACE center. The company is currently building de novo sites and pursuing acquisitions and joint ventures with multiple PACE providers throughout the U.S.
As a Mountain Desert award winner, Hewitt is now eligible for consideration for the Entrepreneur Of The Year 2018 National Awards. Award winners in several national categories, as well as the Entrepreneur Of The Year National Overall Award winner, will be announced at the Entrepreneur Of The Year National Awards gala in Palm Springs, California, on November 10, 2018. The awards are the culminating event of the Strategic Growth Forum®, the nation’s most prestigious gathering of high-growth, market-leading companies.
InnovAge 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.