EAGLE, Idaho, Sept. 16, 2020 (GLOBE NEWSWIRE) — The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, today announced that it has acquired the assets of CMS Home Health Care, which has locations in Brownwood and Coleman, Texas. The acquisition was effective September 16, 2020.
Danny Walker, Pennant’s Chief Executive Officer, commented, “With sister operations in Abilene, Austin, and Dallas, this off-market acquisition is an excellent strategic fit for our burgeoning Texas portfolio of home health and hospice operations. Our local leaders, supported by dedicated field and service center resources, continue to source and cultivate new opportunities for growth while navigating dynamic operating environments in their local communities.”
“The team at CMS Home Health has a reputation for compassionate care and excellent clinical outcomes,” said Brent Guerisoli, President of Cornerstone Healthcare, Pennant’s home health and hospice portfolio company. “We are excited to welcome the staff and patients of this well-respected home health agency into the Pennant family. We look forward to working with these talented caregivers and the local healthcare community to bring life-changing service to the patients we are privileged to serve.”
Mr. Walker reaffirmed that Pennant will continue to pursue opportunities for growth in the home health, hospice and senior living industries, targeting strategic and underperforming operations of all sizes. Read the full press release here.
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