The Pennant Group Acquires Texas Hospice Provider
The Pennant Group, Inc. (NASDAQ: PNTG) has acquired the assets of Open Heart Hospice in Amarillo, Texas, effective September 1, 2021. This acquisition enhances Pennant's presence in the Texas Panhandle, aligning with its cluster model and providing opportunities for growth. CEO Danny Walker emphasized the strategic fit of the acquisition, which complements existing affiliate operations in nearby areas. The newly acquired entity will operate as Kinder Hearts Hospice of Amarillo and aims to integrate seamlessly with the Pennant family, enhancing community healthcare services.
- Strategic acquisition expands operations into the Texas Panhandle, enhancing market presence.
- Aligns with Pennant's cluster model, facilitating further regional growth opportunities.
- Strengthens service offerings by integrating compassionate caregivers from Open Heart Hospice.
- None.
EAGLE, Idaho, Sept. 02, 2021 (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 the assets of Open Heart Hospice, which provides hospice services in Amarillo, Texas. The acquisition was effective September 1, 2021 and will operate under the name Kinder Hearts Hospice of Amarillo.
“We are excited to expand our presence into the Texas Panhandle,” said Danny Walker, Pennant’s Chief Executive Officer. “With affiliate operations in Abilene, Lubbock, and Wichita Falls, this acquisition is an excellent fit for our cluster model and opens the door to further expansion and long-term growth opportunities in the region,” Walker added.
“We are pleased to welcome the staff and patients of Open Heart Hospice into the Pennant family,” commented Brent Guerisoli, President of Pennant. “We look forward to working with these compassionate caregivers and the local healthcare community to bring life-changing service to the patients we are privileged to serve."
Mr. Guerisoli reaffirmed that Pennant continues to pursue opportunities to acquire home health, hospice, home care 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 87 home health and hospice agencies and 54 senior living communities located throughout Arizona, California, Colorado, Idaho, Iowa, 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.
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