Pennant Acquires Senior Living Communities in Wisconsin
Deal News | Nov 01, 2024 | Globenewswire
The Pennant Group, Inc. has announced its acquisition of senior living operations in Green Bay and Appleton, Wisconsin, marking an expansion into this area as of November 1, 2024. The properties involved in the acquisition are Marla Vista Assisted Living and Manor, Carrington Assisted Living, and Carolina Assisted Living, which will now operate under new names. With this acquisition, Pennant will be managing an additional 125 units, furthering their commitment to resident-centered, quality care. Pennant's CEO, Brent Guerisoli, emphasized the strategic significance of this acquisition, aligning with Pennant's mission to enhance senior care offerings. As a holding company, Pennant operates a variety of healthcare subsidiaries across numerous states, providing services through home health, hospice agencies, and senior living communities.
Sectors
- Healthcare Services
- Real Estate
- Private Equity
Geography
- United States – The acquisition involves facilities located in Wisconsin, United States, and Pennant operates numerous subsidiaries throughout several other U.S. states.
- Wisconsin – The specific location for the newly acquired senior living facilities is within the state of Wisconsin.
Industry
- Healthcare Services – This sector involves the provision of medical, diagnostic, treatment, and other health-related services. The acquisition of senior living facilities falls under this category as it pertains to care for the elderly.
- Real Estate – Because Pennant acquired facilities that will operate under a long-term, triple net lease, this transaction involves significant real estate components.
- Private Equity – The acquisition of senior living facilities by a holding company like The Pennant Group often involves restructuring and investment strategies typical of private equity operations.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Pennant Group, Inc. | Acquirer | Company | A holding company of independent operating subsidiaries providing healthcare services through home health and hospice agencies and senior living communities. |
| Marla Vista Assisted Living and Manor | Target | Company | A senior living facility in Wisconsin, now acquired by Pennant Group and renamed Blue Jay Springs Senior Living and Memory Care. |
| Carrington Assisted Living | Target | Company | Another senior living facility in Wisconsin, now part of Pennant Group and renamed Autumn Embers Senior Living. |
| Carolina Assisted Living | Target | Company | Senior living facility located in Wisconsin, now acquired by Pennant Group and renamed Lotus Gardens Senior Living. |
| Brent Guerisoli | Executive | Person | Chief Executive Officer of The Pennant Group, Inc., leading the acquisition strategy. |
| Andrew Rider | Executive | Person | President of Pinnacle Senior Living LLC, a senior living subsidiary of The Pennant Group, Inc. |