InnovAge completes acquisition of ConcertoCare’s PACE programs

InnovAge Holding completed its acquisition of two PACE programs in California from ConcertoCare today. ConcertoCare, a tech-enabled, value-based provider of at-home, comprehensive care for seniors and other adults with unmet health and social needs, operated one PACE program in the Crenshaw neighborhood of Los Angeles and had a second program under development in Bakersfield as part of its ConcertoPACE service line. With the addition of the ConcertoPACE programs, InnovAge now operates 18 PACE centers in five states, with four additional PACE centers under development, including Bakersfield. Combined, the two new ConcertoPACE programs are expected to add additional capacity for approximately 750 participants at maturity. ConcertoPACE census and results are expected to be immaterial to InnovAge for the remainder of the fiscal year ending June 30, 2024.