EAGLE, Idaho and SAN DIEGO — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, has acquired the assets of Ardent Hospice and Palliative Care. The San Diego-based company provides hospice and home health services in the Central Valley, Palm Springs, and San Diego.
“This off-market acquisition opens the door to new service areas in Palm Springs and the Central Valley, and further strengthens our presence in San Diego,” says Brent Guerisoli, CEO of Pennant.
Guerisoli notes that Pennant continues to pursue opportunities to acquire home health, hospice and senior living businesses throughout the United States.
PNTG’s stock price sank slightly on the news, closing at $17.42 per share on Aug. 15, then dropping as low as $16.17 on Aug. 16 when the acquisition was announced. The price was $26.19 per share one year ago.
Based in Eagle, The Pennant Group is a holding company of independent operating subsidiaries that provide healthcare services through 94 home health and hospice agencies and 49 senior living communities located throughout Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming.