Pennant Group (PNTG) Acquires California Hospice and Home Health Provider

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 Ardent Hospice and Palliative Care, which provides hospice and home health services in the Central Valley, Palm Springs, and San Diego, California.

“We are very excited to expand the reach of our hospice operations in California,” said Brent Guerisoli, Chief Executive Officer of Pennant. “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,” Guerisoli added. “We look forward to bringing our high quality resources and life-changing service to these communities.”

“We could not be happier to add the Ardent group of hospice and home health agencies under the Pennant umbrella,” added Brian Wayment, President of Cornerstone Healthcare, Inc., Pennant’s home health and hospice subsidiary, who noted that these agencies collectively had a hospice average daily census of approximately 90 patients prior to acquisition. “We are very excited to work with the wonderful Ardent team of skilled clinicians and compassionate caregivers who truly care about the patients and families they serve.”

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

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