Pennant Acquires Northern Texas and Southern Oklahoma Hospice Provider

Rhea-AI Summary

The Pennant Group, Inc. has acquired Guardian Hospice and Guardian Hospice of Oklahoma, expanding its reach in Texas and Oklahoma. The acquisition will enhance the services offered in rural communities in these states. Pennant plans to continue acquiring home health, hospice, and senior living businesses throughout the United States.

EAGLE, Idaho, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, today announced that it has acquired Guardian Hospice and Guardian Hospice of Oklahoma (“Guardian”), which provides skilled hospice services in Grayson, Fannin, Collin, Cook, Denton, and Hunt counties in Texas, and Bryan, Choctaw, Atoka, Pushmataha, Johnston, Coal, Marshall, Murray, Pontotoc, and Love counties in Oklahoma.

“We are very excited to expand the reach of our hospice operations in the states of Texas and Oklahoma,” said Brent Guerisoli, Chief Executive Officer of Pennant. Our strategy of local leaders empowered to meet the needs of local communities has resonated deeply in rural communities across our platform and we look forward to bringing our innovative operating model and high-quality resources to enhance the services offered in these communities.” Mr. Guerisoli added.

“Guardian has a long standing and deep connection in the communities it serves, and we are honored to carry on this legacy of quality care,” said John Gochnour, President and Chief Operating Officer of Pennant, “we are grateful for the trust and welcome that has been extended to us by the wonderful Guardian team of skilled clinicians and compassionate caregivers. We are thrilled to partner with them in delivering life-changing hospice services to residents of these Northern Texas and Southern Oklahoma communities.” added Mr. Gochnour.

Mr. Guerisoli reaffirmed that Pennant continues to pursue opportunities to acquire high quality home health, hospice and senior living businesses throughout the United States.

About Pennant^:

The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through 102 home health and hospice agencies and 51 senior living communities located throughout Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. Each of these businesses is operated by a separate, independent operating subsidiary that has its own management, employees and assets. References herein to the consolidated "company" and "its" assets and activities, as well as the use of the terms "we," "us," "its" and similar verbiage, are not meant to imply that The Pennant Group, Inc. has direct operating assets, employees or revenue, or that any of the home health and hospice businesses, senior living communities or the Service Center are operated by the same entity. More information about Pennant is available at www.pennantgroup.com.

SOURCE: The Pennant Group, Inc.

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is The Pennant Group, Inc.

What did The Pennant Group acquire?

The Pennant Group acquired Guardian Hospice and Guardian Hospice of Oklahoma.

In which states does Guardian provide hospice services?

Guardian provides hospice services in Grayson, Fannin, Collin, Cook, Denton, and Hunt counties in Texas, and Bryan, Choctaw, Atoka, Pushmataha, Johnston, Coal, Marshall, Murray, Pontotoc, and Love counties in Oklahoma.

What is the strategy of Pennant?

Pennant's strategy is to have local leaders empowered to meet the needs of local communities.

What are the future plans of Pennant?

Pennant plans to continue acquiring high quality home health, hospice, and senior living businesses throughout the United States.