Pennant Acquires Senior Living Facilities in Idaho and Texas
Deal News | Feb 04, 2025 | Globenewswire
The Pennant Group, Inc. has announced the acquisition of three senior living facilities in Idaho and Texas, effective from February 1, 2025. This expansion is in line with Pennant's strategic goals to broaden its national footprint and deliver high-quality care to seniors. The Idaho facility acquisition is structured as a triple net lease with an option to purchase, while the Texas facilities are under long-term triple net leases. With these acquisitions, Pennant adds 188 units that offer assisted living and memory care services. Brent Guerisoli, CEO of Pennant, affirmed the company’s commitment to creating vibrant communities for seniors. Andrew Rider, President of Pinnacle Senior Living LLC, Pennant's senior living subsidiary, emphasised the focus on long-term growth and excellence in care. Pennant operates through independent subsidiaries across numerous states, providing healthcare and senior living services.
Sectors
- Healthcare Services
- Real Estate
- Senior Living
Geography
- United States – The article mentions acquisitions in the states of Idaho and Texas, making the geographical focus the United States.
- Idaho – One of the senior living facilities acquired by Pennant is located in Idaho.
- Texas – Two of the senior living facilities acquired by Pennant are located in Texas.
Industry
- Healthcare Services – The article discusses Pennant's acquisition of senior living facilities, which are part of its healthcare services offering.
- Real Estate – The acquisition involves real estate transactions, particularly through leasing and purchasing agreements.
- Senior Living – Specifically focuses on facilities providing assisted living and memory care, central to the acquisitions by Pennant.
Financials
- 188 units – The number of units added to Pennant's operations as a result of the acquisitions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Pennant Group, Inc. | Acquirer | Company | A holding company that provides healthcare services through its subsidiaries, including senior living communities. |
| Brent Guerisoli | CEO | Person | Chief Executive Officer of The Pennant Group, providing quotes about the acquisition. |
| Andrew Rider | President of Pinnacle Senior Living LLC | Person | President of Pennant's senior living subsidiary, speaking about the acquisitions. |