Pennant completes acquisition of Signature property

The Pennant Group (Nasdaq: PNTG) has accomplished the acquisition of Signature Healthcare at Residence's Washington and Idaho property. At $80 million, the transaction was the most important in Pennant's historical past.

The deal was first introduced in early July and is only one of a number of offers Pennant has closed lately.

“This era of growth gives perception into our potential as a supplier of alternative in our native communities, a best-in-class operator in our industries, and a disciplined – but daring – development firm with the sophistication and adaptableness to grow to be a key resolution throughout the healthcare continuum,” Pennant Group CEO Brent Guerisoli mentioned in the course of the firm’s second-quarter earnings name. “For the reason that starting of the 12 months, we now have entered into the Muir Residence Well being three way partnership; closed two further residence well being and two hospice transactions; entered right into a administration settlement with Hartford HealthCare; introduced the most important acquisition in our historical past with the Signature transaction; and accomplished three senior housing offers.”

Pennant, primarily based in Eagle, Idaho, is a holding firm with unbiased subsidiaries that present well being care companies by 117 residence well being and hospice companies and 54 senior residing communities in 13 states.

Pennant had already acquired different property from Signature in 2020.

The transaction permits Pennant to additional develop within the Pacific Northwest, the place it already has a robust footprint. It additionally permits it to develop its residence care footprint in Certificates of Want (CON) states.

Getting older Advocates CNY acquires Senior Residence Care Options

Healthcare administration apply Getting older Advocates CNY introduced in late July that it had agreed to amass Senior Residence Care Options. The deal can be efficient January 1, 2025.

Senior Residence Care Options is a non-medical residence care supplier headquartered in New York. Sheila Ohstrom is the corporate's CEO. She is going to stay as a guide following the acquisition.

“That is an thrilling time for each organizations and the Central New York space,” Ohstrom mentioned in an announcement. “By becoming a member of forces, we are able to higher serve our shoppers and assist extra seniors stay within the security and safety of their very own properties for so long as potential.”

As a part of the deal, Getting older Advocates will rent 60 staff from Senior Residence Care Options, together with caregivers and an workplace administration workforce.

“This acquisition aligns with our mission to advertise dignity and independence for our shoppers whereas offering peace of thoughts for his or her households,” Melissa Murphy, founder and CEO of Getting older Advocates, mentioned in an announcement. “We’ve got an amazing working relationship with Senior Residence Care Options and have nice respect for his or her neighborhood service. As our inhabitants ages, it’s important to retain high quality residence care suppliers in Central New York.”

Cardiovascular Associates of America Acquires Residence Well being Care Firm

Earlier this month, Cardiovascular Associates of America (CVAUSA) introduced the acquisition of Novolink Well being, an organization that gives care companies to advanced sufferers within the residence.

CVAUSA, primarily based in Orlando, is a physician-focused cardiology firm with a mission to “save lives, cut back prices, and enhance affected person care by medical innovation.” Fort Lauderdale, Florida-based Novolink, in the meantime, goals to bridge the care hole between the hospital and the house. As a part of CVAUSA, it is going to “present a confirmed different to conventional hospital care,” in keeping with a press launch.

“Our mission has at all times been to offer distinctive, customized care to our sufferers. By becoming a member of CVAUSA, one of many largest U.S. cardiology networks, we are able to leverage its in depth sources and attain in our journey to revolutionize the supply of healthcare,” mentioned Michael Shen, Novolink’s president and chief medical officer, in an announcement. “We’re thrilled to work carefully with Tim and the CVAUSA household to convey our revolutionary mannequin to extra communities and enhance the standard of look after all sufferers within the consolation of their very own residence.”

Earlier than the COVID-19 pandemic, Novolink developed a “high-risk residence care” mannequin, which sparked CVAUSA’s curiosity within the firm.

“I’ve identified Dr. Shen since 2005. He is a superb heart specialist and is at all times experimenting and exploring methods to offer higher and cheaper care,” CVAUSA CEO Tim Attebery mentioned in an announcement. “Years earlier than the time period ‘hospital at residence’ was coined, Dr. Shen realized that expertise for distant monitoring and diagnostic companies within the residence may create an Amazon-like resolution, permitting sure high-risk sufferers to obtain high-quality, secure care at residence as a substitute of in a hospital or specialty care facility.”

Adena Well being and AHSN kind three way partnership for residence care and hospice

Ohio well being system Adena Well being has agreed to kind a house well being and hospice enterprise with Alternate Options Well being Community (ASHN).

The three way partnership can be referred to as Adena Residence Well being and Hospice and can give attention to caring for significantly and terminally in poor health sufferers in South Central and Southern Ohio.

“That is an thrilling and vital step ahead for our residence well being and hospice care,” mentioned Dr. Shaheed Koury, Adena’s chief medical officer, in an announcement. “Constructing on our longstanding dedication to offering compassionate, patient-centered care to our communities and leveraging the breadth and expertise of Alternate Options Well being Community, our suppliers can be well-positioned to supply sufferers much more handy and customized care choices.”

ASHN gives residence well being and hospice care primarily by partnerships. It has partnerships with greater than 40 well being methods and greater than 90 residence well being and hospice suppliers.

Spectrum Manufacturers plans to spin off residence well being and private care firm

In early July, Spectrum Manufacturers Holdings (NYSE: SPB) – an organization targeted on “family primary merchandise” – introduced that it had filed a confidential Type 10 registration with the U.S. Securities and Trade Fee (SEC) to spin off its residence well being care enterprise.

“As beforehand introduced, Spectrum Manufacturers has accelerated its efforts to separate its HPC enterprise from its different companies by a spin-off, sale, merger or different strategic transaction,” the corporate wrote in an announcement. “The submitting of the confidential Type 10 registration assertion with the SEC represents an vital step ahead on this course of. The submitting of the Type 10 registration assertion doesn’t obligate Spectrum Manufacturers to finish the spin-off or enter into another transaction.”