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Pennant Group expands Utah presence with two acquisitions

 

EAGLE, Idaho – The Pennant Group, Inc. (NASDAQ: PNTG), a national healthcare provider, has expanded its footprint in Utah by acquiring two senior living communities, the company announced today. The purchases include Capitol Hill Senior Living in Salt Lake City, with 113 units, and Southgate Senior Living in St. George, featuring 75 units, effective March 1, 2024.

Brent Guerisoli, Chief Executive Officer of Pennant, expressed enthusiasm for the expansion, noting the synergy with the company’s existing home health and hospice agencies in Utah. The acquisition is seen as a strategic move to enhance Pennant’s service offerings in the state’s care continuum.

Andrew Rider, President of Pinnacle Senior Living, a subsidiary of Pennant, echoed the sentiment, highlighting the alignment of the new communities with Pennant’s vision of providing transformative services to seniors and their families.

The company aims to work closely with the current staff to improve the quality of life and care for residents.

Pennant’s strategic growth plan includes ongoing efforts to acquire high-quality home health, hospice, and senior living businesses across the United States.

The Pennant Group operates as a holding company with 104 home health and hospice agencies and 53 senior living communities across 14 states, managed by independent subsidiaries with their own staff and management. The acquisition is part of Pennant’s broader strategy to build its real estate portfolio and provide added value to local communities.

This news is based on a press release statement from The Pennant Group, Inc.

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