A foundation for the elderly created when a nonprofit care provider converted to a for-profit company is seeking its first chief executive officer and four additional board members.
NextFifty Initiative, formerly known as the InnovAge Foundation, is seeking board members who represent the community at-large, are involved in or represent the frail elderly, are enrolled in Medicare’s Program of All-Inclusive Care for the Elderly (PACE) or have an immediate family member in the program within the past two years.Community members who meet these requirements and are interested in applying to be on the board may visit the “Join Us” tab on www.next50initiative.org for more information. New board members will join a board of eight current members.
Colorado Attorney General Cynthia Coffman in March allowing InnovAge to convert from a nonprofit provider to a for-profit company. InnovAge, a provider of services for about 2,500 patients in Colorado and about 3,000 nationwide, is being acquired by Welsh, Carson, Anderson & Stowe, a New York-based private equity firm.
The new foundation is the result of the conversion of InnovAge to a for-profit entity. That conversion made NextFifty Initiative the recipient of net proceeds of $196 million from the sale.