The Pennant Group Acquires Hospice Provider Nurses on Wheels

The Pennant Group, Inc. (NASDAQ: PNTG) has acquired the Corpus Christi, Texas-based hospice provider Nurses on Wheels Inc. for an undisclosed amount.

This is the latest in a string of acquisitions for Pennant. Earlier this month Pennant acquired Utah-based South Davis Home Health and South Davis Hospice. The company in December 2023 picked up Arizona-based Southwestern Palliative Care & Hospice after acquiring five Medicare hospice providers in multiple states the prior month. Financial terms were not disclosed in these deals.

“We are excited to expand the reach of our hospice operations in south Texas,” said Pennant CEO Brent Guerisoli in a statement. “Our strategy of empowering local leaders to meet the needs of local communities has resonated deeply across our platform and we look forward to bringing our innovative operating model and high-quality resources to enhance the services offered in south Texas.”


Hospice utilization in Texas runs high, with 143,284 Medicare decedents using these services in 2021, according to the U.S. Centers for Medicare & Medicaid Services (CMS). Only California and Florida had higher volumes of hospice decedents, at 156,000 and 154,521, respectively.

Seniors 65 and older represent 13.4% of the Lone Star State’s overall population, according to the U.S. Census Bureau.

Historically, Pennant has focused on underperforming M&A targets as the company continues to grow organically, Guerisoli said in a Q1 earnings call. The company has also targets operations in more rural areas.


Pennant is the holding company of independent subsidiaries that operate 112 home health and hospice agencies and 53 senior living communities across 13 states.

Double-digit, year-over-year percentage increases in same-store home health admissions and hospice average daily census were a core part of the company’s strong start to 2024, Guerisoli said.

Pennant’s consolidated revenue reached $156.9 million during 2024’s first quarter, a 24.1% year-over-year increase. Its home health and hospice segments brought in a large portion of that revenue at $57.2 million and $54.6 million, respectively. These segments saw a combined 27.9% raise compared to Q1 in 2023.

“Nurses on Wheels has a deep connection to Corpus Christ and the surrounding area, and we are honored to carry on this legacy of quality care,” said John Gochnour, president and COO of Pennant, in a statement. “We are thrilled to partner with this wonderful team of skilled clinicians and compassionate caregivers in delivering life-changing hospice services to residents of these communities.”

Companies featured in this article: