The Pennant Group, Inc., the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, announced on Aug. 16 that it acquired Ardent Hospice and Palliative Care in San Diego. Terms of the deal were not disclosed.
Ardent Hospice and Palliative Care offers home health care, serving between 20 and 50 hospice patients per day. The company received its Medicare certification in 2013.
Headquartered in Eagle, Idaho, The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through 94 home health and hospice agencies and 49 senior living communities in 14 states. Its home health and hospice division is Cornerstone Healthcare.
This announcement follows The Pennant Group’s acquisition of First Choice Home Health, a locally owned and managed home health agency in Bozeman, Montana, in May 2022.
According to the LevinPro HC database, this marks the 64th Home Health & Hospice transaction of 2022, a 27.3% decrease from the same period in 2021 when 88 deals were announced. Since the start of 2022, approximately 42% of HH&H deals have involved private equity, and two of the three HH&H transactions in August were made by private equity firms or their portfolio companies.
