Pennant Group Completes Acquisition
Ticker: PNTG · Form: 8-K · Filed: Jan 2, 2025 · CIK: 1766400
Sentiment: neutral
Topics: acquisition, completion
TL;DR
Pennant Group just bought something, deal closed Jan 1st.
AI Summary
On January 2, 2025, The Pennant Group, Inc. reported the completion of an acquisition. The filing does not specify the target company or the financial terms of the transaction, but it indicates the event occurred on January 1, 2025.
Why It Matters
This filing signals an expansion for Pennant Group, Inc. through the acquisition of another entity, which could impact its market position and future growth.
Risk Assessment
Risk Level: low — The filing is a standard disclosure of an acquisition completion with no immediate negative financial implications mentioned.
Key Players & Entities
- Pennant Group, Inc. (company) — Registrant
- January 2, 2025 (date) — Date of Report
- January 1, 2025 (date) — Date of earliest event reported
FAQ
What was the specific name of the entity acquired by Pennant Group, Inc.?
The filing does not specify the name of the acquired entity.
What were the financial terms of the acquisition?
The filing does not disclose the financial terms of the acquisition.
What is the business of the acquired entity?
The filing does not provide information on the business of the acquired entity.
When did the acquisition officially close?
The acquisition was completed on January 1, 2025.
What is the primary business of The Pennant Group, Inc.?
The Pennant Group, Inc. is in the Services-Health Services industry.
Filing Stats: 680 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2025-01-02 16:07:00
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share PNTG Nasdaq Global Select Mar
- $32,000,000 — August 1, 2024. The purchase price was $32,000,000. By Agreement for the Purchase and Sa
- $48,480,000 — January 1, 2025. The purchase price was $48,480,000. The purchase price for each transact
Filing Documents
- pntg-20250102.htm (8-K) — 37KB
- pntg-2025signaturepurchase.htm (EX-99.1) — 7KB
- pennantlogoa01.jpg (GRAPHIC) — 24KB
- 0001766400-25-000003.txt ( ) — 205KB
- pntg-20250102.xsd (EX-101.SCH) — 2KB
- pntg-20250102_lab.xml (EX-101.LAB) — 22KB
- pntg-20250102_pre.xml (EX-101.PRE) — 13KB
- pntg-20250102_htm.xml (XML) — 3KB
01. Other Events
Item 2.01. Other Events. On January 1, 2025, Cornerstone Healthcare, Inc., a wholly-owned subsidiary of The Pennant Group, Inc., completed the purchase of the Signature Healthcare at Home ("Signature") assets previously identified and announced in the Company's current report on Form 8-K dated July 11, 2024. The acquisition was consummated through two separate agreements to purchase certain of the home health and hospice operating assets of Signature in Idaho, Oregon, and Washington (the "Purchase Agreements"). By Agreement for the Purchase and Sale and Transfer of Operations, dated July 5, 2024, certain subsidiaries of Cornerstone purchased Signature's home health and hospice assets and operations in Washington and Idaho from the following affiliated sellers: Avamere Home Health Care, LLC; Prime Home Health, LLC; A-One Home Health Services, LLC; and Signature Hospice Nampa, LLC (collectively, the "Washington and Idaho Sellers"). This portion of the acquisition closed on August 1, 2024. The purchase price was $32,000,000. By Agreement for the Purchase and Sale and Transfer of Operations, dated July 5, 2024, certain subsidiaries of Cornerstone purchased certain of Signature's home health and hospice assets and operations in Oregon from the following affiliated sellers: Avamere Home Health Care, LLC; Signature Coastal, LLC; Signature Home Health Bend, LLC; Signature Hospice Eugene, LLC; Signature Hospice Medford, LLC; Signature Hospice Bend, LLC; and Signature Hospice Oregon Coast, LLC (collectively, the "Oregon Sellers", and together with the Washington and Idaho Sellers, the "Sellers"). This portion of the acquisition closed on January 1, 2025. The purchase price was $48,480,000. The purchase price for each transaction was paid with cash on hand. No material relationship exists between the Company and the Sellers or between the Company and the source of the funds used in the acquisition.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release of the Company dated January 2, 2025. 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 2, 2025 THE PENNANT GROUP, INC. By: /s/ BRENT J. GUERISOLI Brent J. Guerisoli Chief Executive Officer