Pennant Group Gains New England Foothold with Hartford HealthCare Partnership

The Pennant Group (NASDAQ: PNTG) has inked a management and consulting services agreement with Hartford HealthCare at Home (HHCAH).

HHCAH is the home health and hospice segment of the Hartford HealthCare integrated health system. The health system retains ownership of HHCAH, with Pennant providing financial support services, human resources advising, information technology and other management consulting services.

“At Hartford HealthCare, we know that home-based care offers a more affordable, vital and expanding part of the care continuum, as more patients receive care in their homes every year. This innovative collaboration with Pennant will help us create access for people who need and benefit from in-home care, improve our service offerings and programs, and allow us to provide high-quality in-home care utilizing the expertise of a national home care leader,” said Jeffrey A. Flaks, president and CEO of Hartford HealthCare, in a statement. “We are delighted that this engagement will also create jobs in Connecticut, and bring Pennant’s proven operating model to the East Coast.”


HHCAH operates eight locations, employing more than 1,000 staff that provide care throughout the state of Connecticut. Within the past 12 months, the company has seen 33,000 home health admissions and approximately 4,000 hospice admissions, according to Hartford HealthCare.

To facilitate the collaboration, Pennant is opening a new service center in the Hartford HealthCare service region, establishing a foothold in New England.

“This marks an initial entry point into the New England market for [Pennant] with [Connecticut] representing the company’s 14th state. Notably, prior to the announcement, Pennant’s operational exposure had predominantly leaned towards ‘west of the Mississippi’ except for [Wisconsin],” Scott Fidel, analyst for Stephens, indicated in a research note. “We view the base establishment in Connecticut as a prime opportunity for Pennant to pursue new markets and drive continued accelerated growth for the enterprise.”


Pennant is the holding company of independent subsidiaries that operate 113 home health and hospice agencies and 54 senior living communities across 13 states.

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.

“We have deep admiration for Hartford HealthCare and the commitment to home-based care it has long demonstrated through HHCAH,” said Brent Guerisoli, Pennant’s CEO, in a statement. “We are thrilled to collaborate with Hartford HealthCare and contribute home health and hospice expertise to Hartford HealthCare’s impressive integrated care system. Hartford’s selection of Pennant is an honor and testament to the effectiveness of our unique operating model that empowers local leaders to transform operations and provide life-changing service in their communities.”

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