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ACQUISITIONS
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
The Company’s acquisition focus is to purchase or lease operations that are complementary to the Company’s current businesses, accretive to the Company’s business, or otherwise advance the Company’s strategy. The results of all the Company’s independent operating subsidiaries are included in the Interim Financial Statements subsequent to the date of
acquisition. Acquisitions are accounted for using the acquisition method of accounting.

2026 Acquisitions

During the nine months ended September 30, 2026, the Company expanded its operations with the addition of seven senior living communities. In connection with four of the senior living communities acquired, the Company entered into new long-term “triple-net” leases. For the remaining three senior living communities acquired, the Company acquired the real estate of each community. The aggregate purchase price of the real estate acquired was $14,098, paid in cash and assumed liabilities, which consisted primarily of land and building. A subsidiary of the Company entered into a separate operations transfer agreement with the prior operator of each acquired operation as part of each transaction. These new communities included 411 operational senior living units to be operated by the Company’s independent operating subsidiaries.

During the nine months ended September 30, 2026, the Company acquired two additional hospice businesses for $3,037, which were allocated primarily to Goodwill. The operations of the acquired businesses were integrated into existing hospice agencies owned by Pennant.

On October 1, 2025, the Company acquired certain operations of UnitedHealth, Amedisys, Inc. (“Amedisys”), and certain other sellers, to complement its home health, hospice, and home care businesses. As of December 31, 2025, the Company’s determination and allocation of the purchase price to net tangible and intangible assets was based on preliminary estimates. During the quarter ended June 30, 2026, the Company agreed to final working capital and other closing considerations which resulted in a $387 reduction in the purchase price. The Company also revised its allocation of the purchase price and recognized adjustments to the provisional values in reaching its final allocation as of September 30, 2026, which increased Accounts receivable, net by $2,188. Combined with the change in purchase price, this resulted in a decrease to Goodwill of $2,576.

The following table sets forth the final allocation of the purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired UnitedHealth and Amedisys operations:

Purchase price consideration transferred$146,817 
Assets acquired:
Accounts receivable, net20,796 
Property and equipment, net358 
Right-of-use assets6,197 
Restricted and other assets678 
Indefinite-lived intangibles77,990 
Goodwill73,136 
Total fair value of assets acquired179,155 
Liabilities assumed:
Accrued wages and related liabilities$3,556 
Lease liabilities—current2,344 
Other accrued liabilities3,507 
Long-term lease liabilities—less current portion3,854 
Other long-term liabilities296 
Total fair value of liabilities assumed13,557 
Noncontrolling interest of acquired net assets18,781 
Fair value of net assets acquired$146,817 

There were no material acquisition costs that were expensed related to the business combinations during the three and nine months ended September 30, 2026.
2025 Acquisitions

During the nine months ended September 30, 2025, the Company expanded its operations with the addition of nine home health agencies, four hospice agencies, and four senior living communities. In connection with three of the senior living communities acquired, the Company entered into new long-term “triple-net” leases. For the remaining senior living community acquired, the Company acquired the real estate of the community. These new communities included 316 operational senior living units to be operated by the Company's independent operating subsidiaries.

There were no material acquisition costs that were expensed related to the business combinations during the nine months ended September 30, 2025.