InnovaCare Incorporation Overview

InnovaCare Incorporation serves approximately 467000 members and is the leading managed healthcare service provider in North America. The company’s headquarters are located in Fort Lee. It operates among the most leading health plans in the Puerto Rico region through its subsidiary, MMM Healthcare, while providing a wide range of healthcare services in the mainland of the United States.

InnovaCare Health has been committed over the years to provide its members with the best quality healthcare services, and this has been made possible by the company’s creation of sustainable models of managed care that is well coordinated. The institution’s mission is to redefine healthcare management to be in a position to meet the challenges of the current complex healthcare environment.

In 2016, Richard Shinto introduced three additional leadership positions at InnovaCare Health. The posts included the Chief Actuarial Officer, Chief Administration Officer, and the Chief Accounting Officer. The Chief Actuarial Officer position was given to Jonathan Meyers who had previously been working for various companies in the actuarial department. Some of the place he worked for include: Medicare and Medicaid for Horizon BCBS, where he worked as the director of actuarial services, and the New York Healthcare Partners where he served as Chief Actuary.

The Chief Administrative Officer position was given to Penelope Kokkinides. She holds a Bachelor’s Degree in biological sciences and classical languages from the University of Binghamton. Moreover, she holds a Master’s Degree in public health from the Columbia University of Public Health. In addition to her papers, she has over a decade’s experience in government healthcare programs such as Medicare and Medicaid.

She also held executive positions such as the Executive Vice President and COO for Centerlight Healthcare, COO of Touchstone Health, as well as the corporate vice president for Care Management and Disease Management at Americhoice where she helped to develop the company’s health model.

InnovaCare Health’s Chief Accounting Officer’s position was given to Mike Sortino who previously worked for Samsung Fire &Marine Insurance Company where he was the controller. Before working at Samsung, he served as the CFO of the HCC Specialty for over five years. Mike’s experience goes far beyond twenty years in the reinsurance as well as the insurance industries.

According to Richard Shinto, the three added executives have shown a high level of expertise and professional ethics and integrity, which is what InnovaCare Health has been in need of for the longest time.

https://www.linkedin.com/in/rick-shinto-71986913

Marc Beer Bio

Marc Beer has almost twenty-five years of experience in commercialization and development in pharmaceutical services, diagnostics, devices, and biotechnology. In 2016, he co-founded Renovia together with Yolanda Lorie and Ramon Iglesias. They closed series A financing successfully with leading healthcare capital venture funds. In 2000 Beer became the Chief executive Officer of ViaCell. ViaCell is a biotechnology company that specializes in the development, collection and preservation of umbilical cord stem cells. In a period of seven years, Marc led ViaCell through a series of rapid growth and robust commercial organization. The company went public in 2005 and was acquired by PerkinElmer in 2007. At the time he was serving at ViaCell as CEO. He was also serving in the board of directors of Erytech Pharma as a member. This is a biopharmaceutical company that is publicly traded.

 

Before joining ViaCell, Marc Beer was the vice president of Genzyme. As the head of global marketing, he was responsible for launching commercial products that address rare diseases affecting a global population. Before joining Genzyme, he worked at Abbot Laboratories under the pharmaceutical and diagnostic division in various roles. He was also a member of Mass Life Science Board of Commonwealth of Massachusetts. He served on the Governing Board of the Biotechnology Industry Organization Emerging Companies Section. Marc was the founding Chairman of the compensation committee and chairman of the board of directors of Good Start Genetics. The company was acquired by InVitae recently. He is also a member of the Minerva neurosciences audit committee. Marc Beer serves on the Business Advisory Council of Miami University.

 

Rinovia has decided to move forward with new products that treat pelvic floor disorders. On Tuesday the company made a Series B round worth $32 million and a venture debt of $10 million. The company is now developing several therapeutic and diagnostic products for treating pelvic floor disorder. One of this disorder is urinary incontinence which is estimated to affect 250 million women in the whole world. In April, Leva, Renova’s first products received FDA approval. The Longwood Fund recently joined the Series B round. The investing firm had earlier invested in Renovia. The funds will assist in testing and developing four diagnostic and therapeutic products. This includes a new generation of Leva device.

 

Marc Beer recently said that Renovia is thrilled to have a group of healthcare investors who share in the vision of the company supporting it. The vision of the company is to treat, diagnose and improve lives of many women affected by pelvic floor disorders. Customers will be able to get valuable data with the proprietary and innovative sensor technologies. This will drive great understanding and knowledge of pelvic disorders, inform new treatment options and lower healthcare costs in the long term. Learn more: https://www.businesswire.com/news/home/20180821005199/en/Renovia-Completes-42.3-Million-Series-Financing