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 […]
Cornerstone Healthcare, the hospice and home health subsidiary of the Pennant Group, Inc. (NASDAQ: PNTG) has opened two de novo hospice agencies: Everett-Wash.-based Alpha Home Health and Hospice and Peaceful Heart Hospice, located in Murrieta, Calif. Alpha, which already provided home health services, received a certificate of need from the Washington State Department of Health […]
The Pennant Group, Inc. (NASDAQ: PNTG) has appointed Brent Guerisoli as the company’s new president as of Jan. 1, 2020. Pennant’s current president and chief executive officer Daniel Walker will continue as CEO. The company also announced that Brian Wayment would take the helm of Cornerstone Healthcare as president of that subsidiary. The Pennant Group […]
Hospice, home health and senior living company The Pennant Group, Inc. (NASDAQ: PNTG), has acquired the assets of two hospice providers, sold by Signature Health Care at Home, each with multiple locations throughout southeastern Idaho and northern Utah. The company also purchased two home health agencies serving those regions. Financial terms of the transactions were […]
Under the CARES Act enacted in March, many hospice providers nationwide received federal relief funding to provide monetary support as they reeled from the fallout of the coronavirus pandemic. As the U.S. Department of Health & Human Services (HHS) distributed millions of often unsolicited dollars from the Public Health and Social Services Emergency Fund, legal […]
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