Investor Alert

press release

Jan. 19, 2021, 8:38 a.m. EST

The Pennant Group Acquires Arizona Home Health Provider

EAGLE, Idaho, Jan 19, 2021 (GLOBE NEWSWIRE via COMTEX) -- EAGLE, Idaho, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. /zigman2/quotes/214252817/composite PNTG -4.81% , the parent company of the Pennant group of affiliated home health, hospice and senior living companies, today announced that it has acquired Sacred Heart Home Health Care, which provides home health services in Phoenix and Tucson, Arizona. The acquisition was effective January 16, 2021.

"We are thrilled to announce the acquisition of Sacred Heart Home Health Care," said Danny Walker, Pennant's Chief Executive Officer. "This strategic, off-market acquisition expands our service offerings in the Tucson market and strengthens our presence in Phoenix," he added. "We have been eager to add home health services to the care continuum in Tucson for some time. This acquisition provides a high-quality home health partner to our senior living communities, hospice operations, and healthcare community partners in the southern Arizona market," Mr. Walker added.

"With one of the highest quality ratings in the state and a perfect five-star patient survey rating, Sacred Heart's outstanding team of clinicians and caregivers are dedicated to elevating the standard of patient care," commented Brent Guerisoli, President of Pennant. Noting that Sacred Heart admitted approximately 730 patients last year, Mr. Guerisoli added, "We are excited about the tremendous growth opportunities in these markets as we build upon Sacred Heart's foundation of excellent patient care with our world-class systems and resources."

Mr. Guerisoli reaffirmed that Pennant continues to pursue opportunities to acquire home health, hospice and senior living businesses throughout the United States.

About Pennant:

The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through 80 home health and hospice agencies and 54 senior living communities located throughout Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. 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 that The 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 at www.pennantgroup.com .

SOURCE: The Pennant Group, Inc.

        Contact Information
        The Pennant Group, Inc.
        (208) 506-6100


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