ORLANDO, Fla.--(BUSINESS WIRE)--InnovaCare Health, a national leader in integrated and value-based healthcare services, is pleased to announce several long-planned leadership transitions. Rick Shinto, MD, the founder and Chief Executive Officer, will become Chair of InnovaCare’s Board of Directors. Will Abbott, who joined InnovaCare in January as Chief Operating Officer, has been promoted to Chief Executive Officer. Ravi Chari, MD, joins InnovaCare as Chief Operating Officer.
“Rick is a pioneer of value-based care with a standout track record of building leading and innovative healthcare organizations, spanning several decades and across geographies as varied as California, Puerto Rico, Florida, and Texas. Once again, with InnovaCare Health, he has built a leading platform,” said Chris Gordon, Partner at Bain Capital Private Equity. “In service to InnovaCare’s future, Rick augmented an experienced, proven team with new top-tier executive talent and remains fully committed to supporting the platform as Board Chair.”
Under Dr. Shinto’s tenure as Chief Executive Officer, InnovaCare Health has grown to over $500 million revenue, serving 130,000 patients, including 50,000 seniors, mostly in risk-bearing arrangements.
“This planned transition to Will as CEO will be seamless,” stated Dr. Shinto. “The organization is in a strong position to continue delivering high quality care while expanding nationally. Will is an outstanding, proven leader who excels at harnessing the deep experience of our team to deliver superior outcomes. Dr. Chari will be a tremendous addition to our team, bringing years of experience as a practicing physician and scale healthcare services operator as well as a commitment to clinical excellence. I look forward to my continued and committed engagement as Chairman.”
Abbott brings to InnovaCare 20 years of operational and executive experience in multi-site healthcare providers. With expertise in healthcare strategy, growth, integration and operations, Abbott recently served as Chief Operating Officer for San Francisco-based Carbon Health, where he led operations within the technology-enabled medical provider group, scaling the business from 7 to 125 clinics across 13 states and expanding the scope of service lines and partnerships.
Before Carbon Health, Abbott spent 12 years with CVS Caremark, leading the national pharmacy operations team and ascending to Chief Operating Officer of its Long-term Care division, a $4.5 billion pharmacy business unit. Abbott began his career at the Boston Consulting Group, focusing on healthcare. Abbott graduated from Duke University’s Pratt School of Engineering. He holds an MBA from the University of Pennsylvania’s Wharton School.
Said Abbott, “I joined InnovaCare because of the potential to impact quality healthcare for seniors on a large scale, and especially because of the deep experience and proven track record of Dr. Shinto and the team who built a strong foundation. I’m honored to lead this organization in service of our patients, providers, and team members.”
Abbott continued, “We are all excited to welcome Dr. Chari to lead our medical and operations teams. Ravi will help us further build out our platform to expand our innovative model of physician partnerships and quality care across the U.S. along with our entire executive team.”
Dr. Chari brings over 20 years of medical, operational, and executive leadership experience to the InnovaCare leadership team. Dr. Chari most recently served as the President and CEO for HCA Healthcare’s West Florida Division, where he had responsibility for approximately 17,000 employees and a continuum of programs and services encompassing 15 hospitals and numerous outpatient sites and practices serving 1.2 million patients annually. With HCA, he delivered high quality outcomes and patient satisfaction while continuously growing market share and expanding operating margins. Under Dr. Chari’s leadership, the division enhanced its hospitals’ transplant, oncology, and Graduate Medical Education programs, and improved employee engagement and physician satisfaction, while also earning national certifications for its trauma and burn care programs. Before his tenure with HCA, Dr. Chari worked with Vanderbilt University Medical Center where he continuously received National Institutes of Health funding for over seven years and led the liver transplant program.
In this new role for the organization, Dr. Chari will lead clinical operations for the InnovaCare organization, across more than 10 markets throughout Florida and Texas, while also supporting the continued platform expansion to support the Company’s growth throughout the United States.
“I’m grateful to join the innovative team at InnovaCare Health,” said Dr. Chari. “I have been fortunate in my career to work with organizations that are committed to finding the best ways to provide quality care for their patients, in a way that optimizes their clinical staff experience, and I am thrilled to be able to continue this critical work at InnovaCare. We share the same passion for transforming care delivery, and I look forward to working alongside this team to improve the lives of the people we serve through compassionate, high-quality care.”
InnovaCare Health operates a quality and growth-minded network of physician practices, backed by experienced healthcare executives and led by physicians. InnovaCare grew revenue by over 50% in 2022. The Company, which received a majority investment by Bain Capital Private Equity in December 2021 alongside existing investor Summit Partners, has a strong development pipeline comprised of forward-looking primary care practices across several states.
About InnovaCare Health
Based in Orlando, Fla., InnovaCare Health improves the lives of patients and physicians through innovative solutions for value-based healthcare. Throughout its 20+ year history, InnovaCare Health has owned, operated and managed an integrated portfolio of leading medical groups, health plans, medical service organizations, clinical networks and more. For more information, please visit innovacarehealth.com or follow us on Facebook or LinkedIn.
