Pennant Group to acquire Signature Healthcare assets for $80M

Healthcare services provider Pennant Group has agreed to buy some assets from home health and hospice company Signature Healthcare at Home for $80 million.

Pennant Group entered into two separate purchase agreements, it said Thursday. The deals, which are each subject to regulatory approval, would expand its footprint by 13 locations across Idaho, Oregon and Washington, according to a news release.

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Eagle, Idaho-based Pennant Group said it expects to close on the Washington and Idaho assets on Aug. 1 and the Oregon assets on January 1, 2025. The purchase price could shift based on changes to Signature Healthcare’s business between now and the transactions' completion, it said. 

Signature has an annual revenue of roughly $78 million, according to the release. 

The proposed acquisition is part of Pennant Group’s growth strategy, CEO Brent Guerisoli said in the news release. The company acquired home health and hospice businesses in Connecticut and Texas over the past two months, with plans to notch more deals in the coming year.

The organizations did not respond to requests for comment about whether the to-be-purchased assets represent Signature's entire business.

Pennant Group owns 113 home health and hospice facilities in 13 states, as well as senior living communities.