The Pennant Group

What The Pennant Group does

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company headquartered in Eagle, Idaho, that operates a network of 250+ independently-led affiliates providing home health, hospice, home care, palliative care, mobile primary care, and senior living services (independent living, assisted living, memory care, respite care) across 17 U.S. states, serving more than 21,000 patients and residents daily. The company was founded in 2007 and spun off from The Ensign Group in 2019 to become an independent publicly traded entity.

The operating model is decentralized: each affiliate is led by a local CEO supported by a centralized service center (Synergy Shared Services) that provides finance, HR, legal, IT, billing, coding, OASIS review, and clinical operations support. The company supplements this operating platform with the Ascend Leadership Program—a structured development pipeline with three tracks (CEO-in-Training, Path to CCO, Path to CMO) that produces internal operators for new and acquired affiliates. Distribution combines direct physician and hospital referrals, an emerging health system partnership channel (Hartford HealthCare, Scripps Health, John Muir Health), and physical locations in 17 states.

Revenue is generated through per-episode Medicare home health payments, per-diem Medicare/Medicaid hospice payments, monthly senior living private-pay residency fees, private-pay home care, and managed-service economics from health system partnerships. FY2025 revenue reached $947.7 million (up 36.3% YoY) on net income of $29.6 million and adjusted EBITDA of $72.5 million, with management guiding FY2026 revenue to $1,133.6M–$1,171.8M. Growth has been driven by a combination of organic same-store improvement and an active acquisition program, headlined by the October 2025 purchase of 54 home health and hospice locations from UnitedHealth Group and Amedisys for $146.5 million. The company has funded expansion with a $108.5 million public equity offering (October 2024) and a credit facility expanded to $350 million in November 2025.

Name

The Pennant Group

Legal name

The Pennant Group, Inc.

Website

https://pennantgroup.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Pennant Group is a publicly traded healthcare services holding company (NASDAQ: PNTG) operating 250+ locally-led affiliates across 17 U.S. states, delivering home health, hospice, home care, palliative care, and senior living services to over 21,000 patients and residents daily through a centralized service-center support model.

Ownership category

akta.pro rank

Product category

Home Health and Hospice Services

NAICS

Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Other Residential Care Facilities (623990), Management of Companies and Enterprises (551)

SIC

Services-Home Health Care Services (8082), Services-Nursing & Personal Care Facilities (8050), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

akta.pro secondary industry

Multi-Campus / Regional CCRC Networks (HLADAEAF)

Keywords

• Home health services
• Hospice care
• Senior living
• Palliative care
• Home care services

Headquarters

HQ city

Eagle

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Home Health Services: Short-term skilled care provided in the home for individuals recovering from illness, injury, or surgery, or managing chronic health conditions. Medicare covers 100% of eligible Home Health services for qualifying patients. Revenue is generated through per-episode Medicare payments and commercial insurance.
2. Hospice Services: End-of-life care focused on enhancing quality of life through symptom management, emotional and spiritual support. Covered by Medicare, Medicaid, and most private insurance plans. Revenue is primarily per-diem Medicare/Medicaid payments.
3. Senior Living Services: Residential care services including Independent Living, Assisted Living, Memory Care, and Respite Care. Typically paid privately or through long-term care insurance. Revenue is recurring based on resident occupancy and care level.
4. Home Care Services: Non-medical assistance in the home for daily living activities. Paid privately, through long-term care insurance, Medicaid, VA benefits for eligible veterans, and community programs.
5. Health System Partnerships: Strategic partnerships with health systems to operate home health and hospice programs. Pennant assumes day-to-day operations and leadership, creating new revenue streams without operational burden for health system partners.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

The Pennant Group is a publicly traded holding company that operates a decentralized network of 250+ independently led affiliates providing home-based healthcare and senior living services across 17 U.S. states. Its core offerings span Home Health, Hospice, Home Care, Palliative Care, and Mobile Primary Care delivered in patients' homes, as well as Senior Living services including Independent Living, Assisted Living, Memory Care, and Respite Care. The company also partners with health systems to operate post-acute care programs and runs internal leadership development tracks (Ascend) that build a pipeline of affiliate operators.

Product overview

The Pennant Group is a healthcare services holding company operating a network of home health, hospice, home care, and senior living affiliates across 16+ states. The company operates through a locally led model with centralized support, offering Healthcare at Home services (Home Health, Hospice, Home Care, Palliative Care, Mobile Primary Care) and Senior Living services (Independent Living, Assisted Living, Memory Care, Respite Care). The portfolio also includes Health System Partnerships for post-acute care collaboration, Synergy Shared Services for operational support to agencies, and Ascend Leadership Programs (CEO-in-Training, COLT, CMO Path) for developing future healthcare leaders. The company operates 250+ affiliate locations serving 21,000+ patients and residents daily.

Differentiator

Problem solved

Functional benefit

Brands

• Ascend Leadership Program: Leadership development program offering CEO-in-Training, Path to CCO, and Path to CMO tracks for aspiring healthcare leaders
• Synergy Shared Services
• Health System Partnerships

Products and services

• Home Health Services Short-term skilled care provided in the home for individuals recovering from illness, injury, or surgery, or managing chronic health conditions. Includes skilled nursing, physical therapy, occupational therapy, speech therapy, wound care, and medication management.
• Hospice Services End-of-life care focused on enhancing quality of life through symptom management, emotional and spiritual support, and meaningful time with loved ones. Available 24/7 wherever the patient feels most comfortable.
• Home Care Services Non-medical assistance provided in a person's home to help with daily living activities such as bathing, dressing, meal preparation, and light housekeeping, helping individuals maintain independence and dignity.
• Palliative Care Services Specialized medical care for people living with serious or life-limiting illnesses, addressing physical discomfort, emotional stress, and other challenges during treatment. Can be provided at any stage of illness alongside curative treatments.
• Mobile Primary Care Services Medical professionals providing primary medical services on-site at private homes, assisted living communities, or other care settings, including preventive care, chronic disease management, and follow-up visits with mobile diagnostics.
• Independent Living Services Active, maintenance-free lifestyle communities for older adults offering private residences, shared amenities, planned activities, and optional services such as housekeeping, dining, and transportation.
• Assisted Living Services Personalized support for older adults who need help with daily activities while valuing independence, featuring 24/7 assistance, social engagement, and safe, comfortable living environments.
• Memory Care Services Specialized, compassionate support for individuals living with Major Neurocognitive Disorders, providing 24/7 support in a safe, structured, and engaging environment that promotes dignity, comfort, and quality of life.
• Respite Care Services Short-term stays in a safe, welcoming environment providing relief for primary caregivers while ensuring loved ones receive high-quality support, including engaging activities, nutritious meals, and professional assistance.
• Health System Partnerships Partnerships with health systems to deliver seamless post-acute care, strengthen outcomes, and support smooth care transitions through locally led, expertly managed home health and hospice programs.
• Synergy Shared Services Operational support hub for home health and hospice agencies providing specialized expertise in recruiting, onboarding, HR, intake, authorizations, billing, pre-bill, collections, OASIS, and coding partnership.
• CEO-in-Training Leadership Program 12-week hands-on program designed to develop high-potential individuals into confident leaders ready to own and operate Pennant-affiliated Home Health, Hospice, Home Care, or Senior Living companies.
• COLT Program (Clinical Operation Leadership Training) Program equipping clinicians with leadership skills to grow into Director of Clinical Services, Director of Rehab, and other clinical leadership positions, preparing them for Chief Clinical Officer roles.
• CMO Path (Chief Marketing Officer Program) Leadership development program for growth-minded leaders passionate about building relationships, driving strategic growth, and expanding community impact, preparing them for Chief Marketing Officer roles.

Quantifiable outcome

• 97% CAHPS patient satisfaction across partner agencies
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Hartford HealthCarecoreStrategic or Co-development Partner · 1 May 2024Strategic collaboration to strengthen and expand home-based care services across Connecticut, with plans to transition the partnership into a unified operating entity. Since the collaboration began in May 2024, Hartford HealthCare at Home achieved its first-ever 4-star Centers for Medicare & Medicaid Services rating and expanded access to tens of thousands of patients through hundreds of thousands of visits.
• Scripps HealthminorStrategic or Co-development PartnerHealth system partnership for post-acute care delivery. Pennant provides operational expertise and leadership for home health and hospice programs.
• John Muir HealthminorStrategic or Co-development PartnerHealth system partnership for post-acute care delivery. Pennant provides operational expertise and leadership for home health and hospice programs.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• National HealthCare Corporation: NHC operates skilled nursing, assisted living, home care, and hospice services across the Southeast and Midwest. Comparable multi-service continuum-of-care model with senior living and home-based services.
• The Ensign Group, Inc. The Ensign Group is Pennant's former parent and operates skilled nursing facilities and senior living communities using a similar locally-led operating model. Closely comparable in operating philosophy and culture, though more SNF-focused.
• Brookdale Senior Living: Brookdale is the largest senior living operator in the U.S. offering independent living, assisted living, and memory care. Comparable to Pennant's senior living service line, though Brookdale is pure-play senior living rather than diversified.

Direct peers

• Amedisys, Inc. Amedisys is a leading home health and hospice operator that Pennant partially acquired assets from. Operates the same core service lines as Pennant's home health and hospice affiliates and serves Medicare-eligible populations across multiple states.
• BrightSpring Health Services: BrightSpring is a publicly traded home and community-based health services platform providing home health, hospice, pharmacy, and behavioral services. Highly comparable multi-modality healthcare-at-home model to Pennant's diversified platform.
• Aveanna Healthcare Holdings: Aveanna operates a pediatric and adult home health, private duty, and medical solutions platform. Comparable in home-based care delivery and Medicaid-heavy payer mix, though more pediatric-skewed.
• Encompass Health Corporation: Encompass Health operates one of the largest networks of inpatient rehabilitation hospitals and, through its Enhabit spinoff history, is closely tied to home health and hospice. Highly comparable to Pennant's home health and hospice service lines.
• Enhabit, Inc. Enhabit is a pure-play home health and hospice provider spun off from Encompass Health. Closely mirrors Pennant's home health and hospice offerings and operates across similar geographies.
• Addus HomeCare Corporation: Addus provides personal care, home health, and hospice services to primarily elderly and disabled clients across the U.S. Directly competes with Pennant's home care and hospice affiliates and shares a similar Medicaid/Medicare payer mix.

Emerging players

• Option Care Health: Option Care Health is a leading provider of home and alternate-site infusion services. While not directly competing in home health/hospice, it operates in the same home-based care delivery category serving complex patients in their homes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@PennantGroup
• Facebookfacebook.com/ThePennantGroupHealthcare
• LinkedInlinkedin.com/company/pennant-group
• Instagraminstagram.com/pennantgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries14 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Pennant Group