The Pennant Group’s (NASDAQ: PNTG) strategy for pursuing potential acquisitions is rooted in an operational model that emphasizes the role of local agency leaders. This approach will continue as transaction opportunities arise for Pennant, which CEO Danny Walker describes as a “growth company.” For prospective deals, Pennant scouts for agencies that show strong promise for […]
The Pennant Group intends to pick up the pace in acquisitions after a slowdown in the last quarter of 2021. After staying aggressive on acquisitions for the past two years, the company took a break to integrate and financially recharge recently purchased assets amid COVID headwinds. Pennant completed 11 acquisitions during 2021 in addition to […]
Although 2% sounds like a small number, it can mean financial life or death for some hospices, particularly small community-based providers. These organizations are once again waiting to see if the federal government will extend the current moratorium on Medicare sequestration, uncertain about their programs’ sustainability without such relief. Established in 2014 by the Budget […]
Despite prevailing COVID-19 headwinds, the hospice and home health mergers and acquisitions market shows no signs of slowing. Labor shortages plaguing the industry may be spurring additional activity as the dwindling workforce is limiting some providers’ ability to grow organically. A number of the larger strategic buyers — LHC Group (NASDAQ: LHCG), Amedisys (NASDAQ: AMED), […]
The Pennant Group (NASDAQ: PNTG) will likely slow down its acquisition activity during the remainder of the year and early 2022 as they work to recover from pandemic headwinds that bruised the hospice, home health and senior housing provider during the third quarter. Pennant has been aggressive on acquisitions during the past two years, including […]
The hospice mergers and acquisitions market has been burgeoning for the last several years and continues to accelerate. Hospice leads the health care sector in terms of investor interest and valuations, but providers may hit some walls if workforce shortages worsen. Among the driving forces behind this continued acceleration include demographic tailwinds, rising demand and […]
The Pennant Group, Inc. (NASDAQ: PNTG) has purchased Sacramento, Calif.-based First Call Hospice. Pennant remains bullish on hospice and home health acquisitions, with a number of deals in its pipeline. The company in February increased its revolving line of credit by $75 million to a total $150 million, pledging to apply those resources to buying […]
Rising interest from special-purpose acquisition companies (SPACs) could make competition in an already active hospice M&A market more fierce in coming years. Like private equity and other investors, SPACs are drawn to hospice by surging demographic tailwinds from the aging population. SPACs are formed with the sole intent of raising capital for the purpose of […]
April Anthony, CEO of Home Health and Hospice at Encompass Health Corp. (NYSE: EHC) will be stepping down in mid-June of this year. The move comes at a time when the company is considering a repositioning of its home health and hospice business, including a potential spin off or sale. Anthony founded Encompass Home Health […]
The Pennant Group (NASDAQ: PNTG) is investing heavily in the growth of its hospice business both through acquisitions and de novo activity during the remainder of the year and into 2021. Pennant set itself on a strong trajectory in 2020 with two start-up locations and four hospice acquisitions thus far. Pennant, which owns and operates […]
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