The Pennant Group, Inc. (NASDAQ: PNTG) has appointed Brent Guerisoli as the company’s new president as of Jan. 1, 2020. Pennant’s current president and chief executive officer Daniel Walker will continue as CEO. The company also announced that Brian Wayment would take the helm of Cornerstone Healthcare as president of that subsidiary.
The Pennant Group is the parent company of a number of affiliated hospice, home health and senior living organizations, including Cornerstone Healthcare. Pennant in 2019 was spun off from The Ensign Group (NASDAQ: ENSG).
Guerisoli has been serving as president of Cornerstone since 2018. The Pennant subsidiary’s footprint experienced substantial growth during his tenure.
“I joined the organization because I was attracted to our operating model built around empowering and supporting local leaders that are seeking unique opportunities to build health care operations that provide life-changing service,” Guerisoli said. “This powerful model attracts leaders of all backgrounds and is the most important ingredient to our success. I am honored to serve as president of Pennant and look forward to supporting our current and new local Pennant leaders as we seek to be the provider of choice in health care communities across the country. As we stay committed to the principles that have helped us get to where we are today, our future prospects have never been brighter.”
Pennant operates 73 home health and hospice agencies, 54 senior living operations, and mobile diagnostics and lab operations located across 14 states, with 23 of the senior living assets subject to leases with third-party landlords. Pennant also manages 28 senior living communities pursuant to new, long-term triple-net leases with Ensign subsidiaries.
Also effective Jan. 1, Brain Wayment will become president of Pennant-owned hospice provider Cornerstone Healthcare. Wayment was previously president of Pennant’s Midwest home health and hospice operations.
“Brian is a trusted Pennant leader that has consistently achieved success in all roles he’s been asked to assume. His ability to build teams at all levels that embody our core values and commit to achieving incredible results have prepared him well for this next opportunity,” Walker said.
No further senior management personnel changes are expected in the near future, according to Pennant.
“This is an exciting next step in Pennant’s growth story,” Walker said. “We often say that we are a leadership company that happens to operate in health care, and changes like this that open doors for leaders to step into new opportunities are natural and done methodically. As we continue to grow in a disciplined manner in all parts of the organization, we elevate high-performing leaders that exemplify our core values and attract new talented individuals seeking a Pennant experience.”