Pennant Acquires Senior Living Operations in Wisconsin
March 20 2023 - 11:28AM
The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the
Pennant group of affiliated home health, hospice, home care and
senior living companies, today announced that it has completed the
acquisition of operations of Robins Landing at New Berlin, a 44-bed
memory care and assisted living facility located in New Berlin,
Wisconsin, and Robins Landing at Brookfield, a 52-bed memory care
and assisted living facility located in Brookfield, Wisconsin. The
acquisition was effective March 16, 2023 and will be subject to a
long-term, triple-net lease.
“We are very excited to expand our senior living
offerings in the State of Wisconsin,” said Brent Guerisoli, Chief
Executive Officer of Pennant. “This acquisition complements our
existing operations in the area, including home health, hospice,
and a strong network of senior living communities,” Guerisoli
added.
“We could not be happier to add Robins Landing
at New Berlin, and Robins Landing at Brookfield. Our Wisconsin
leaders are eager and excited by the opportunity to turn these
operations into the employers of choice and communities of choice
in New Berlin and Brookfield,” added Andrew Rider, President of
Pinnacle Senior Living LLC, Pennant’s senior living subsidiary.
Mr. Guerisoli reaffirmed that Pennant continues
to pursue opportunities to acquire high quality home health,
hospice, home care and senior living businesses throughout the
United States.
About
Pennant:
The Pennant Group, Inc. is a holding company of
independent operating subsidiaries that provide healthcare services
through 95 home health and hospice agencies and 51 senior living
communities located throughout Arizona, California, Colorado,
Idaho, Iowa, 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.
Contact Information
The Pennant Group, Inc.(208)
506-6100ir@pennantgroup.com
SOURCE: The Pennant Group, Inc.
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