The Pennant Group (Nasdaq: PNTG) plans to ramp up acquisitions later this year as it works to integrate assets purchased in late 2024.

Among those deals was The Pennant Group’s acquisition of Signature Healthcare at Home’s hospice and home health assets for a price tag of $80 million which closed in January. The company also completed some senior living transactions.

Pennant is on the hunt for more deals but will likely be more active later in the year.

“We are focused on quickly and effectively transitioning newly acquired operations and have the best strength capital and deal flow to support substantial acquisitional growth,” CEO Brent Guerisoli said in an earnings call. “We continue to entertain numerous potential opportunities across our existing markets and beyond. That being said — because of all of the new transitions and larger acquisitions really at the end of the year — I think it may be a little more of an aggressive ramp over the year.”

Pennant is the holding company for a cluster of independent hospice, home health and senior living providers located across 13 states. Year to date, the company has added more than 60 CEOs to its portfolio agencies as well as 40 internal clinical leaders.

The company’s consolidated revenue for the third quarter reached $180.7 million, up 28.9% from the previous year’s quarter. The home health and hospice segment accounted for $135.7 million, representing a 33.7% increase over Q3 2023. Hospice average daily census grew to 3,444, a 27.7% jump year-over-year.

Pennant’s revenue growth has positioned the company well for more deals. During the fourth quarter the company accumulated $20.6 million in net cash generated from operating activities and $17.2 million in free cash flow.

“We are well-positioned for future growth with a healthy balance sheet and ample dry powder to deploy,” CFO Lynette Walborn said in the earnings call.

During 2024, Pennant added 66 local agency leaders to its CEO training program and launched a clinical leadership training initiative with 40 participants, according to Guerisoli.

“We’ve effectively made progress in each of [the five] areas during [2024],” he said. “The most important initiative continues to be leadership development, which ultimately drives performance in the other four areas.”

The company’s total revenue for the full year 2024 reached $695 million, up 27.6% from 2023. During the fourth quarter alone, Pennant earned $188.9 million in total revenue, close to a 30% increase year-over-year.

Pennant’s Home Health and Hospice Services segment revenue for the year was $519.5 million, an increase of $125.0 million or 31.7% over 2023. For Q4 2024, the segment earned $142.0 million, an increase of $35.1 million or 32.9% over the prior year’s quarter.

Hospice average daily census for the full year was 3,268, an increase of 661 or 25.4% over prior year and for the fourth quarter was 3,445, up 649 or 23.2% compared to the Q4 2023.

“Following a monumental year, we are excited about the significant progress we’ve made, and expect to build upon it throughout 2025 …” Guerisoli said. “We continue to entertain numerous potential opportunities across our existing markets and beyond.”