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May 3, 2021, 8:01 a.m. EDT

The Pennant Group Acquires Texas Home Health Provider

EAGLE, Idaho, May 03, 2021 (GLOBE NEWSWIRE via COMTEX) -- EAGLE, Idaho, May 03, 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, home care and senior living companies, today announced that it has acquired the assets of Cardiovascular Home Care, which provides home health services in Fort Worth, Texas. The acquisition was effective May 1, 2021 and will operate under the name Custom Care Home Health.

"Having a strong hospice agency and a number of senior living communities in Dallas, we have carefully looked for the right opportunity to add home health services in the DFW area. This acquisition provides a strong platform for our local leaders to better address the needs of the community," said Danny Walker, Pennant's Chief Executive Officer. "Throughout our home health and hospice portfolio, there are dozens of opportunities like this to expand our services and be a solution for patients throughout the care continuum," he added.

"This agency was founded by talented clinicians who believed in providing the highest standard of patient care," commented Brent Guerisoli, President of Pennant. Noting that the agency admitted approximately 1,500 patients last year, Mr. Guerisoli added, "Their commitment to clinical excellence is demonstrated by their high quality ratings and strong market reputation. We are thrilled to welcome their talented team and look forward to continuing their tradition of outstanding patient care."

Mr. Guerisoli reaffirmed that Pennant continues to pursue opportunities to acquire home health, hospice, home care 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 85 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
        ir@pennantgroup.com
        


COMTEX_385746510/2471/2021-05-03T08:00:47

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/zigman2/quotes/214252817/composite
US : U.S.: Nasdaq
$ 20.60
-1.04 -4.81%
Volume: 238,277
Dec. 3, 2021 4:00p
P/E Ratio
71.35
Dividend Yield
N/A
Market Cap
$586.63 million
Rev. per Employee
$74,852
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