The Pennant Group Acquires Arizona Hospice Agencies

The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, announced Monday that it has acquired two affiliated hospice agencies in Arizona: Prime Hospice, operating in the Phoenix metro area; and Harmony Hospice of Arizona, located in Kingman and serving northwestern Arizona. The acquisition was effective May 16, 2020. “These acquisitions are a great example of an off-market opportunity resulting from relationships we developed over many years,” said Daniel Walker, Pennant’s Chief Executive Officer. “We continue to source a number of off-market opportunities and marketing offerings as understanding of our innovative operating model, patient-centered approach to care, and emphasis on healthy culture continues to spread within the industry,” he added. Pennant expects to close on the acquisition of a third affiliated hospice agency also located in the southwestern United States on or before July 1, 2020, subject to standard closing conditions.

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