On February 14, 2022, InnovAge Holding Corp. (the “Company”) received notice from the Centers for Medicare & Medicaid Services (“CMS”) stating that CMS denied the Company’s application to develop the previously announced PACE center in Terre Haute, IN, which was projected to open in fiscal year 2024. The denial was based on deficiencies detected during CMS’ 2021 audits of the Company’s Sacramento and Colorado PACE programs.
The Company continues to be committed to operating in the state of Indiana and is evaluating its options for the future. The Company cannot guarantee the outcome of this process.
