InnovAge is a healthcare delivery platform specializing in fully-capitated, all-inclusive care for frail, dual-eligible seniors through the Program of All-Inclusive Care for the Elderly (PACE). The company directly contracts with Medicare, Medicaid, and other payers on a per-member-per-month capitated basis, bearing full healthcare cost risk and delivering comprehensive services including in-home care, primary and specialist care, therapy, behavioral health, and social support through vertically integrated interdisciplinary care teams working from community centers and in-home settings. InnovAge generates recurring revenue from government and private payers while serving one of the most medically complex senior populations, with a business model that reduces costs compared to traditional Medicaid while improving outcomes and enabling participants to age in place.