EAGLE, Idaho, Oct. 01, 2020 (GLOBE NEWSWIRE) — The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, announced today that it has closed on its previously announced home health joint venture with Scripps Health, a leading nonprofit integrated health system based in San Diego, California. The closing of the joint venture occurred effective October 1, 2020.
The joint venture, which combines Scripps’s home health business and a local Pennant-affiliated home health agency, will be majority-owned and managed by a Pennant subsidiary and provide home health services to patients throughout San Diego County under the name Seaport Scripps Home Health. As of the closing, Pennant will also provide operational and administrative support services for the venture.
“We are thrilled to officially close and begin operating this joint venture together with Scripps Health. We have long admired their