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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) will release its third quarter 2020 financial results on November 10, 2020. A webcast to discuss these results is scheduled for November 11, 2020 at 10:00 a.m. MT (12:00 p.m. ET). The company operates 75 home health and hospice agencies and 54 senior living communities across multiple states. Investors can access financial information via the company's Investor Relations website and replay the webcast until December 11.
The Pennant Group (NASDAQ: PNTG) recently launched two new hospice agencies: Alpha Home Health and Hospice in Everett, Washington, and Peaceful Heart Hospice in Murrieta, California. Both agencies received Medicare certification and began accepting patients in October 2020. CEO Daniel Walker emphasized the strategic growth opportunities these agencies present, highlighting local leadership efforts. The company aims to continue expanding by acquiring additional home health, hospice, and senior living businesses across the U.S.
The Pennant Group, Inc. (NASDAQ: PNTG) has successfully acquired Riverside Home Health Care, located in Grants Pass, Oregon, effective November 1, 2020. This acquisition expands Pennant's portfolio in southern Oregon and aligns with its strategy of sourcing off-market opportunities, as stated by CEO Daniel Walker. Riverside Home Health Care, which admitted around 1,100 patients in the past six months, is noted for its strong reputation within its community. Pennant Group is actively pursuing additional acquisitions in home health, hospice, and senior living sectors across the U.S.
The Pennant Group, Inc. (NASDAQ: PNTG) announces an expansion of its leadership with Brent Guerisoli appointed as President, effective January 1, 2021. Daniel Walker remains CEO. Guerisoli has significantly contributed to Cornerstone Healthcare's growth, expanding from 54 to 73 agencies. Walker praised Guerisoli's ability to develop leaders and drive financial and clinical excellence. Additionally, Brian Wayment will lead Cornerstone Healthcare, with John Gochnour supporting the transition. This leadership change reflects a commitment to growth and operational excellence across Pennant's healthcare services.
The Pennant Group (NASDAQ: PNTG) has acquired Harmony Hospice in Las Vegas, effective October 1, 2020, enhancing its presence in Southern Nevada. This acquisition follows similar transactions earlier in the year with affiliated hospice agencies in Arizona. CEO Daniel Walker emphasized the strategic and disciplined nature of this acquisition to address growth opportunities despite the challenges posed by COVID-19. Additionally, Pennant announced a joint venture with Scripps Health to create Seaport Scripps Home Health, expanding its service offerings in San Diego County.
The Pennant Group (NASDAQ: PNTG) announced the closing of its home health joint venture with Scripps Health, effective October 1, 2020. The joint venture will operate as Seaport Scripps Home Health and will be majority-owned by Pennant, providing home health services in San Diego County. This collaboration is aimed at enhancing quality care through integrated services and local leadership. Pennant plans to pursue further growth opportunities in the home health and hospice sectors.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of assets from CMS Home Health Care in Texas, effective September 16, 2020. This strategic decision aims to enhance their Texas portfolio in home health and hospice operations, complementing existing services in nearby cities like Abilene and Dallas. Pennant's CEO emphasized local leaders' capability to drive growth despite market challenges, while the president of Cornerstone Healthcare expressed excitement about incorporating CMS's staff and patients. The company plans to continue pursuing new growth opportunities across its sectors.
The Pennant Group, Inc. (NASDAQ: PNTG) reported strong second-quarter results for fiscal year 2020, with total revenue of $92.7 million, a 12.1% increase year-over-year. GAAP earnings per share increased 15.4% to $0.15, while adjusted earnings per share rose 118.2% to $0.24. Home Health and Hospice Services generated $58.0 million in revenue, a 15.5% increase, and average daily census grew 18.3%. The company updated its guidance, raising annual adjusted earnings per share expectations to $0.71 to $0.78.
The Pennant Group, Inc. (NASDAQ: PNTG) announced it will release its Q2 2020 financial results on August 11, 2020. A live webcast is scheduled for August 12, 2020, at 10:00 a.m. Mountain Time, where management will discuss these results. The Pennant Group operates 71 home health and hospice agencies and 54 senior living communities across multiple states, including Arizona, California, and Texas. Detailed financial information will be available via their Investor Relations webpage.
The Pennant Group (NASDAQ: PNTG) announced the acquisition of assets from two home health and two hospice agencies in Southeastern Idaho and Northern Utah, effective July 1, 2020. This off-market acquisition expands Pennant's healthcare services in these regions, enhancing their presence and service delivery capabilities. CEO Daniel Walker emphasized the strategic importance of this cluster-driven growth strategy, while President Brent Guerisoli highlighted the potential for broader community service and growth opportunities. Pennant remains open to further acquisitions to strengthen its market position.
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