The Pennant Group, Inc. (NASDAQ: PNTG) subsidiary Pennant Healthcare, LLC has established itself as a leading player in Washington’s skilled nursing sector, according to the latest CMS data analysis.
Market Leadership
Pennant Healthcare, LLC has emerged as one of the largest skilled nursing facility operators in Washington State, with 15 facilities under its management, according to ownership data from CMS. This positions the company as a top player in the region, sharing the top spot with Life Care Centers of America, Inc., which also operates 15 facilities in the state.
Portfolio Overview
Beyond Washington, Pennant Healthcare maintains a significant presence in Idaho with 11 skilled nursing facilities and a smaller footprint in Nevada with 2 facilities. All 28 of the company’s facilities are in the skilled nursing sector, with no diversification into other healthcare segments according to the most recent CMS data.
Ownership Structure & Leadership
The company maintains 100% ownership of all its facilities, with complete control over its entire portfolio of 28 skilled nursing properties. The Pennant Group is led by President and CEO Daniel H. Walker, with Jennifer L. Freeman serving as Chief Financial Officer and John R. Gochnour as Chief Operating Officer. As a publicly traded company on NASDAQ, Pennant offers investors exposure to the skilled nursing sector through its strategic regional focus.
Investment Implications
Washington State’s skilled nursing sector has Certificate of Need (CON) requirements and oversight from the Department of Social and Health Services, which can create barriers to entry that often benefit established operators like Pennant. For investors considering the skilled nursing sector in Washington, the state’s reimbursement environment includes Medicaid rate adjustments and increasing emphasis on value-based care models.
