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Pennant Announces Home Health Acquisition in Southern California

1. PNTG acquires GrandCare Health Services, enhancing service in California. 2. GrandCare Home Health focuses on communities in Los Angeles and surrounding counties. 3. Acquisition aims to strengthen Pennant's home health footprint and patient care. 4. GrandCare is recognized for quality care and strong employee engagement. 5. New resources will improve patient care continuity and service delivery.

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Why Bullish?

The acquisition strengthens Pennant's position in key markets, potentially driving revenue growth. Historical acquisitions that expanded service areas have generally resulted in positive stock performance for healthcare companies like PNTG.

How important is it?

This acquisition is significant as it directly impacts Pennant's market presence and growth potential. Acquisitions often provide a competitive edge that can boost stock performance and investor confidence.

Why Long Term?

The benefits from this acquisition may take time to fully realize, as integration and service enhancements develop. Past acquisitions in healthcare sectors have often led to sustained growth over several quarters or years.

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EAGLE, Idaho, July 01, 2025 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, announces the acquisition of a premier home health agency, GrandCare Health Services. The newly acquired agency, to be known as GrandCare Home Health, provides services in Los Angeles, Orange, Riverside and San Diego counties in California, and broadens Pennant’s service area in the region. “We are happy to welcome GrandCare Home Health to Pennant,” said Brent Guerisoli, Chief Executive Officer of Pennant. “This acquisition expands our ability to provide home health services to communities in the strategically important California markets where we already have a significant senior living presence. It will also strengthen our home health footprint in certain geographies. We look forward to building on GrandCare’s legacy of quality care while introducing new resources to enhance patient care.” Patients can expect continuity in home health care delivery, with the added benefit of Pennant’s expanded resources, expertise, and innovative solutions. “We are grateful for the trust extended to us by David and the GrandCare team. GrandCare’s clinical excellence, highlighted by their strong star ratings, low hospitalization rates, strong employee engagement and unique approach to technology, has made them a provider and employer of choice in Southern California,” said John Gochnour, President and Chief Operating Officer of Pennant. “We are delighted to partner with GrandCare’s dedicated staff members to build a continuum of care capable of delivering life-changing home health services to patients in communities across Southern California.” “We are thrilled to be joining Pennant,” said David Bell, Ph.D., Chairman and Co-Founder of GrandCare. “From the beginning, it was clear that Pennant shares our belief in empowering local teams and delivering uncompromising clinical care. We look forward to working together through a successful transition and ensuring that GrandCare continues to deliver high-quality, patient-centered care.” Montauk AI served as the placement agent for the transaction, supporting GrandCare through execution. About Pennant: The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through home health and hospice agencies and senior living communities located throughout Arizona, California, Colorado, Connecticut, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. Each of these businesses is operated by a separate, independent operating subsidiary that has its own management, employees and assets. References herein to the consolidated "company" and "its" assets and activities, as well as the use of the terms "we," "us," "its" and similar verbiage, are not meant to imply that The Pennant Group, Inc. has direct operating assets, employees or revenue, or that any of the home health and hospice businesses, senior living communities or the Service Center are operated by the same entity. More information about Pennant is available at www.pennantgroup.com. About GrandCare Health Services GrandCare Health Services is a 5-star rated provider of home health and hospice services across Southern California. With deep clinical expertise in post-surgical rehabilitation and chronic disease management, GrandCare has delivered trusted care to more than 6,000 patients annually for over 20 years. The company is recognized for its quality outcomes, strategic partnerships, and compassionate care delivery. SOURCE: The Pennant Group, Inc.

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