The Pennant Group plans to acquire Signature Healthcare at Home for $80 million.
Signature Healthcare, which specializes in hospice, home health and palliative and primary care, has entered into two separate asset purchase agreements to sell assets of certain affiliates to Pennant Group. Each APA is subject to regulatory approvals and closing conditions.
Signature has four locations in Washington and two in Idaho, which are expected to move to Pennant on Aug. 1. Signature's seven Oregon facilities are expected to transition on Jan. 1.
Eagle, Idaho-based Pennant supports independent companies that provide services in more than 115 home health and hospice agencies and 54 senior living communities across 13 states.
"After 25 years we are honored and excited to be acquired by Pennant," Signature Founder Rick Miller said in a July 10 news release. "The match between our two companies could not be better in terms of shared commitment to mission, values, quality, patient experience, and most importantly respect for our clinical teams and leadership. This transition to the Pennant Group represents significant professional, clinical, and growth opportunities for the Signature colleagues."
Signature said it made this decision to propel the company into the next phase of its development.