Today, every industry has become competitive with many players trying to clinch to the market leader positions. InnovaCare Health is one such company that strives to provide quality and inexpensive healthcare services in North America. Although based in New Jersey, InnovaCare Health has its significant clientele base settled in Puerto Rico boasting of over 200000 members and 7500 network providers. The organization’s ability to bring affordability and quality under one concept makes it a favorite among many Puerto Ricans. InnovaCare specializes in providing Medicare Advantage and Medicaid program health plans in a bid to accomplish its mission.
Since its inception, InnovaCare has grown tremendously and made moves towards accomplishing its goals. We cannot ignore the force behind these strategic moves, and incredibly managed healthcare models that keep InnovaCare Health at the top of its game. The organization’s President and Chief Executive Officer, Dr. Rick Shinto, takes credit for the development and growth in the company. He is backed by his rich educational background where he earned his medical degree from the State University of New York. Shinto also holds an MBA from the University of Redlands. Later, he accumulated valuable experience both in medical practice and managed healthcare. Rick’s portfolio reads his service time in multiple reputable institutions such as CalOptima, MedPartners, NAMM, Aveta, and MMM healthcare; all executive positions.
With over twenty years of experience, dedication, and tenacity to see the healthcare system deliver quality services to patients, his efforts didn’t go unnoticed. While serving in Aveta Inc, Rick Shinto was awarded the Ernst and Young Entrepreneur of the year. He went further ahead to bag one of Top 25 Minority Executives in Healthcare Awards in 2018 while at InnovaCare Health.
In 2016, after announcing that InnovaCare Health would bring in three executives to the leadership panel, Rick also revealed the company’s plan to join the Health Care Payment Learning and Action Network. The program would initiate more quality-based services rather than usual quantity-based concepts. InnovaCare Health seems to be headed in the right direction with Dr. Rick Shinto behind the wheel.
HGGC’s growth into the leading middle market privately owned firm can be attributed to the exceptionally talented team of professionals working in the firm. The team has members who have gained much-needed experience after working in the private sector for several years. The firm’s main aim is to bring their partners interests in line with the firm’s interests so that they realize success as a team. The framework of HGGC is set up in a way that they bring in the best practices from global and private equity corporations to create the best performing middle market businesses.
WATCH: Steve Young on his journey from @NFL‘s @49ers to co-founding a global @privateequity firm that oversees portfolio companies that employ more than 62,000 employees worldwide – https://t.co/ztKzHZHry0
— HGGC (@HGGC_LLC) May 10, 2018
The firm is based in Palo Alto Calif. The main investments of the firm are located in North America. However, it also considers investing in international businesses. HGGC is uniquely renowned by its Advantage Investing approach. The approach empowers the company with the ability to not only source but also acquire scalable businesses that attract numerous businesses. This is realized through partnerships with founders, sponsors, and management teams, who in turn reinvest with the firm, hence, coming up with strongly aligned interests. In the course of its existence, HGGC has been involved with over 130 platform investments, liquidity events, and add-on acquisitions with an estimation of over $20 billion in transactions.
Recently, the firm partnered with Dyal Capital Partners as they acquired a minority interest in the firm. Besides, the firm in January 2017 invested in Davies Group, which is an insurance provider. Since the investment, the group has done over 11 transactions and are in the course of delivering double-digit in terms of annual organic growth. HGGC power when it comes to attracting investors is what led to a minority investment in Davies Group by AIMCO (Alberta Investment Management Corporation).
HGGC has a minority investment in Idera Inc. Idera is also in partnership with other investors, such as Company Management and TA Associates. The firm aims to be in numerous investments ranging from business services, financial services, infrastructure, chemicals, industrial services, software and technology field, consumer products, and healthcare. For instance, Idera Inc is a company that develops software and has over 50,000 clients in different industries such as energy, education, healthcare, media, technology, and retail.