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The Pennant Group, Inc. (NASDAQ: PNTG) is an established healthcare provider in the United States, serving patients of all ages with a particular focus on the growing senior population. The company operates in multiple segments including home health, hospice, and senior living services. Pennant Group’s senior living services comprise assisted living, independent living, and memory care facilities located across Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming.
The company derives a significant portion of its revenue from its home health and hospice segments, which collectively include home health, hospice, and home care services. These services are designed to provide comprehensive and compassionate care to individuals in the comfort of their homes, enhancing their quality of life and supporting their families.
In recent developments, Pennant Group formed a strategic joint venture with John Muir Health to create Muir Home Health, a new entity aimed at delivering home health services throughout the Bay Area. This collaboration leverages John Muir Health’s extensive healthcare expertise and Pennant Group’s profound experience in home health management. The venture is set to offer a range of services including skilled nursing, physical therapy, occupational and speech therapy, home health aide, and medical social work services.
Pennant Group is committed to innovation and quality care, backed by its operational model that empowers local leadership teams to implement effective clinical programs and ensure seamless transitional care. The company's leadership underscores their dedication to providing exceptional patient care and supporting their employees, as evidenced by the glowing remarks from both Pennant Group and John Muir Health executives regarding the new joint venture.
Financially, the company continues to maintain a solid performance, with ongoing projects and partnerships designed to expand its service delivery and enhance patient outcomes. Investors and stakeholders can stay informed about the latest updates by tuning into their scheduled conference calls and webcasts, the next of which is slated for May 7, 2024, at 10:00 am MT.
The Pennant Group, Inc. (NASDAQ: PNTG) reported strong financial results for Q1 2021, with total revenue of $105.7 million, a 15% increase year-over-year. The home health and hospice services segment generated $74.6 million in revenue, up 31.4%, and achieved $13.8 million in adjusted EBITDAR. Total home health admissions rose by 48.3%. However, the senior living segment faced challenges, particularly due to COVID-19 and severe weather in Texas, impacting occupancy and leading to increased operational costs. Despite this, the company remains optimistic about growth and strategic acquisitions.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the forthcoming release of its first quarter 2021 financial results on May 6, 2021. A live webcast will follow on May 7, 2021, at 10:00 a.m. MT, where management will discuss these results. The company operates healthcare services through 85 home health and hospice agencies and 54 senior living communities across various states. For more information, visit their Investor Relations website.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of the assets of Cardiovascular Home Care, effective May 1, 2021. This Texas-based home health service will be renamed Custom Care Home Health. CEO Danny Walker highlighted this as a strategic move to enhance community care in the Dallas-Fort Worth area, leveraging existing hospice and senior living services. The acquisition adds to Pennant's portfolio, which includes 85 home health and hospice agencies across the U.S., reinforcing its commitment to patient care quality.
The Pennant Group, Inc. (NASDAQ: PNTG) has acquired Pasco Southwest Home Health, effective April 1, 2021. This strategic acquisition enhances Pennant's presence in Colorado, offering a strong foundation for future expansion and new services. Pasco Southwest, known for its exceptional home health and personal care services over two decades, will benefit from Pennant's advanced resources. CEO Danny Walker and President Brent Guerisoli emphasized the commitment to maintaining high care standards while pursuing further acquisition opportunities across the U.S.
The Pennant Group, Inc. (NASDAQ: PNTG) has announced participation in two upcoming investor conferences. John Gochnour, Chief Operating Officer, Jennifer Freeman, Chief Financial Officer, and Derek Bunker, Chief Investment Officer will represent the company at the 2021 Barclays Global Healthcare Conference on March 9 and the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021. A live webcast of the presentations will be available on the company's investor relations page.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in two investor conferences. Brent Guerisoli, President, along with CFO Jennifer Freeman and CIO Derek Bunker, will present at the 2021 Barclays Global Healthcare Conference on March 9, 2021. Additionally, COO John Gochnour, Ms. Freeman, and Mr. Bunker will present at the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 9:20 a.m. MT. Live webcasts will be available on Pennant's Investor Relations website, providing stakeholders access to company insights.
The Pennant Group (PNTG) reported robust financial results for FY 2020, with total revenue rising to $391 million, an increase of 15.5% year-over-year. GAAP diluted EPS reached $0.52 for the year and $0.13 in Q4. Adjusted EBITDA was $36.1 million, a 32.9% increase. The Home Health and Hospice Services segment saw revenue growth of 22.8%, while senior living revenue rose 4.1%. The company reaffirmed its 2021 guidance for total adjusted revenue between $430 million and $440 million.
The Pennant Group, Inc. (NASDAQ: PNTG) has amended its revolving credit facility, increasing it by $75 million to a total of $150 million. As of February 22, 2021, approximately $18.3 million was drawn. The amendment, arranged by Truist Bank, helps improve the company's long-term capital structure, extends the facility's termination to 2026, reduces interest rates on drawn capital, and lowers undrawn fees. CFO Jenn Freeman stated that proceeds will be allocated for acquisitions, growth investments, and working capital. The net-debt-to-adjusted EBITDA ratio stands at 0.23x.
The Pennant Group, Inc. (NASDAQ: PNTG) announced it will release its fourth quarter and fiscal year 2020 financial results on February 24, 2021. A live webcast for current and prospective investors is scheduled for February 25, 2021, at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time), where management will discuss the financial results. The Pennant Group operates 80 home health and hospice agencies and 54 senior living communities across multiple states, emphasizing independent operations through its subsidiaries.
The Pennant Group (NASDAQ: PNTG) has acquired Sacred Heart Home Health Care, effective January 16, 2021. This strategic acquisition enhances Pennant's service offerings in Tucson and strengthens its presence in Phoenix, Arizona. Sacred Heart, known for its high-quality home health services, admitted approximately 730 patients last year and has a five-star patient survey rating. Pennant aims to leverage Sacred Heart's excellence and expand growth opportunities in these markets while continuing to seek further acquisitions across the U.S.
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