Pennant Completes Acquisition of Signature Healthcare at Home Assets

PNTG 01.02.2025

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  • 01.02.2025 - Pennant Completes Acquisition of Signature Healthcare at Home Assets
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EAGLE, Idaho,Jan. 02, 2025(GLOBE NEWSWIRE) --The Pennant Group, Inc.(NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, and senior living companies, today announced that it has closed on the purchase of certainOregonassets ofSignature Healthcareat Home (“Signature”).

Pennant completed its purchase of Signature’sIdahoandWashingtonassets onAugust 1, 2024and its purchase of certain of Signature’sOregonassets onJanuary 1, 2025, thus concluding the full two-stage acquisition as previously announced. TheOregonassets include seven locations across the state, adding to Pennant’s existing presence inPortlandand Grant’s Pass.

“We are delighted to welcome these operations to the Pennant fold,” saidBrent Guerisoli, Pennant's Chief Executive Officer. “This is a substantial purchase that allows us to serve multiple new markets acrossOregonand cements Pennant as one of the leading providers of home health and hospice in thePacific Northwest. Following a record-breaking year in 2024, we are excited to continue the growth of our home health and hospice business in 2025.”

"From the outset of this process, we knew that Signature’s culture and approach were well-aligned with Pennant," saidJohn Gochnour, Pennant’s President and Chief Operating Officer. “That has proven to be the case as we’ve integrated theIdahoandWashingtonoperations over the previous two quarters. Due to the two-stage nature of this acquisition, we have enjoyed an extended transition period that has allowed us to get to know theOregonleaders and operations very well. As Signature’sOregonleaders tap into Pennant’s unique operating model and sharing of best practices, we couldn’t be more confident in their bright future.”

About Pennant

The Pennant Group, Inc.is a holding company of independent operating subsidiaries that provide healthcare services through 122 home health and hospice agencies and 57 senior living communities located throughoutArizona,California,Colorado,Idaho,Montana,Nevada,Oklahoma,Oregon,Texas,Utah,Washington,WisconsinandWyoming. Each of these businesses is operated by a separate, independent operating subsidiary that has its own management, employees and assets. References herein to the consolidated "company" and "its" assets and activities, as well as the use of the terms "we," "us," "its" and similar verbiage, are not meant to imply thatThe Pennant Group, Inc.has direct operating assets, employees or revenue, or that any of the home health and hospice businesses, senior living communities or the Service Center are operated by the same entity. More information about Pennant is available atwww.pennantgroup.com.

Pennant Contact Information

The Pennant Group, Inc.(208) 506-6100ir@pennantgroup.com

SOURCE:The Pennant Group, Inc.

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Source: Pennant Group, Inc.

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