Pennant and John Muir Health Enter into a Home Health Joint Venture in the Bay Area, California
02 Enero 2024 - 3:48PM
The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the
Pennant group of affiliated home health, hospice, home care and
senior living companies, today announced that it has closed on a
home health joint venture with John Muir Health, a leading
nonprofit integrated health system that serves communities
throughout San Francisco’s East Bay Region. The closing of the
joint venture occurred effective January 1, 2024.
John Muir Health has contributed its home health business to the
new joint venture, which will be majority-owned and managed by a
Pennant subsidiary. The new venture will provide home health
services, including skilled nursing, physical occupational and
speech therapy, home health aide and medical social work services
to patients throughout the Bay Area under the name Muir Home
Health. As of the closing, Pennant Services, Inc., will provide
operational and administrative support services for the
venture.
“We are thrilled to begin operating this joint venture. Muir
Home Health will bring together the deep experience of one of the
Bay Area’s premier health systems with Pennant’s deep experience in
managing and supporting the delivery of life-changing home health
services. This collaboration will create a unique continuum of care
that will benefit Bay Area residents for many years to come,” said
Brent Guerisoli, Pennant's Chief Executive Officer. “We recognize
the significant talent and clinical expertise in the Bay Area. We
are excited to have identified leaders and care providers who are
as uniquely passionate about delivering care in the home as we are.
Muir Home Health is poised to hit the ground running.”
"We are grateful for the opportunity to strategically expand our
Bay Area presence and build on John Muir Health’s legacy through
Muir Home Health." said John Gochnour, President and Chief
Operating Officer of The Pennant Group. “John Muir Health is a
world-class healthcare system, and their selection of Pennant in
establishing Muir Home Health is an honor and testament to our
unique operating model that supports and empowers local leadership
teams to transform the landscape of home health care in their
communities. We look forward to our collaboration with John Muir
Health leading to innovative clinical programs, strong transitional
care coordination, and an improved experience for the patients and
employees we will serve.”
“We selected Pennant because of their established track record
for providing high-quality home health care and commitment to
customer service and their employees,” said Mike Thomas, president
and CEO of John Muir Health. “Our new joint venture will expand
access to home health care in the area and enable deployment of
care pathways, the latest protocols, and best practices developed
by Pennant through operation of its home health agencies
nationwide.”
Mr. Guerisoli reaffirmed that Pennant continues
to pursue opportunities to acquire high quality home health,
hospice and senior living businesses throughout the United
States.
John Muir Health was advised on the joint
venture by Sheppard Mullin.
About
Pennant:
The Pennant Group, Inc. is a holding company of
independent operating subsidiaries that provide healthcare services
through 104 home health and hospice agencies and 51 senior living
communities located throughout Arizona, California, Colorado,
Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah,
Washington, Wisconsin and Wyoming. Each of these businesses is
operated by a separate, independent operating subsidiary that has
its own management, employees and assets. References herein to the
consolidated "company" and "its" assets and activities, as well as
the use of the terms "we," "us," "its" and similar verbiage, are
not meant to imply that The Pennant Group, Inc. has direct
operating assets, employees or revenue, or that any of the home
health and hospice businesses, senior living communities or the
Service Center are operated by the same entity. More information
about Pennant is available at www.pennantgroup.com.
SOURCE: The Pennant Group, Inc.
Contact Information
The Pennant Group, Inc.
(208) 506-6100
ir@pennantgroup.com
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