Private Equity Pursues Profits in Keeping the Elderly at Home

DENVER — Inside a senior center here, nestled along a bustling commercial strip, Vivian Malveaux scans her bingo card for a winning number. Her 81-year-old eyes are warm, lively and occasionally set adrift by the dementia plundering her mind.

Dozens of elderly men and women — some in wheelchairs, others whose hands tremble involuntarily — gather excitedly around the game tables. After bingo, there is more entertainment and activities: Yahtzee, tile-painting, beading.

But this is no linoleum-floored community center reeking of bleach. Instead, it’s one of eight vanguard centers owned by InnovAge, a company based in Denver with ambitious plans. With the support of private equitymoney, InnovAge aims to aggressively expand a little-known Medicareprogram that will pay to keep older and disabled Americans out of nursing homes.

http://www.nytimes.com/2016/08/21/business/as-the-for-profit-world-moves-into-an-elder-care-program-some-worry.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news

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