The Pennant Group Inc. (Nasdaq: PNTG) completed its $80 million acquisition of Signature Healthcare at Home’s hospice and home health assets. 

Pennant closed the deal on seven of Signature’s Oregon locations on Jan. 1. The company previously completed the purchase of Signature’s Idaho and Washington assets on August 1, 2024.

Acquiring Signature will boost Pennant’s existing presence across three states. The purchase adds seven locations to the company’s footprint in Oregon, as well as multiple locations in four Washington cities and two cities in southwest Idaho.

“We are delighted to welcome these operations to the Pennant fold,” said Pennant’s CEO and Chairman Brent Guerisoli, in a statement. “This is a substantial purchase that allows us to serve multiple new markets across Oregon and cements Pennant as one of the leading providers of home health and hospice in the Pacific Northwest. Following a record-breaking year in 2024, we are excited to continue the growth of our home health and hospice business in 2025.”

Pennant is the holding company for a group of independent hospice, home health and senior living providers located across 13 states.

The company will continue pursuing growth opportunities in hospice, home health and senior living, targeting strategic and underperforming operations of all sizes, executives have indicated in earnings calls. The company currently holds 115 hospice and home health agencies and 54 senior living providers as independent subsidiaries.

Signature Healthcare at Home has an average daily census of more than 300 hospice patients, with its home health admissions reaching upwards of 12,000 patients during the last year. The hospice and home health provider’s annual revenue hovered around $78 million. Signature also offers palliative and primary care services.

The deal is expected to contribute an incremental 13% boost to Pennant’s revenue, coupled with a 25% increase in home health admissions and a 3% jump in hospice ADC, Scott Fidel, analyst for Stephens, stated in a research note.

“From the outset of this process, we knew that Signature’s culture and approach were well-aligned with Pennant,” said John Gochnour, Pennant’s president and chief operating officer, in a statement. “That has proven to be the case as we’ve integrated the Idaho and Washington operations over the previous two quarters. Due to the two-stage nature of this acquisition, we have enjoyed an extended transition period that has allowed us to get to know the Oregon leaders and operations very well.”