On July 1, The Pennant Group, Inc. announced that it acquired GrandCare Health Services.
GrandCare Health Services is a home health agency based in Pasadena, California. With clinical expertise in post-surgical rehabilitation and chronic disease management, GrandCare has delivered care to more than 6,000 patients annually for more than 20 years. It provides services in the Los Angeles, Orange, Riverside and San Diego counties in California.
The Pennant Group is a holding company of independent operating subsidiaries that provide healthcare services through 115 home health and hospice agencies and 54 senior living communities located across 14 states. According to its full year 2024 financial report, the company made a revenue of $695.2 million during FY 2024.
Montauk AI served as the placement agent for the transaction, supporting GrandCare through execution. This deal broadens Pennant’s service area in the region. The financial terms were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 56th Home Health & Hospice (HH&H) acquisition of the year, and the 31st in the home health specialty. There were 96 HH&H transactions announced during 2024, including 31 in the home health specialty.
