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The Ensign Group Acquires California Senior Living Community
August 1, 2019 at 4:26 PM EDT
SAN JUAN CAPISTRANO, Calif., Aug. 01, 2019 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (NASDAQ: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies, announced today that it acquired the operations of Mainplace Senior Living, a 91-unit assisted living community in Orange, California. The acquisition was effective August 1, 2019, and will be subject to a long-term, triple-net lease. Mainplace will become part of The Pennant Group, Inc., on upon the completion of the previously-announced spin-off.
“We are excited to add this community in one of our core markets, surrounded by a number of other skilled nursing or assisted living facilities led by local leaders applying Ensign best practices” said Barry Port, Ensign's Chief Executive Officer. Mr. Port also noted that this community shares a campus setting with Mainplace Post Acute, a 163-bed skilled nursing facility acquired by an Ensign affiliate earlier this year.
"We look forward to Mainplace becoming a greater resource to the local community as the local team applies the same principles that has been the foundation for the success of other Ensign businesses," said Brian Hulse, president of Ensign’s senior living services portfolio company. He added that this community had an average occupancy rate of approximately 59% at the time of acquisition.
In separate transactions on the same day, Ensign announced that its affiliates acquired Agape Hospice and Palliative Care, a hospice agency serving Tucson, Arizona, as well as the real estate and operations of The Terrace at Mt. Ogden, a 114-bed skilled nursing facility in Ogden, Utah. Both acquisitions were also effective August 1, 2019.
These acquisitions bring Ensign's growing portfolio to 200 skilled nursing operations, 27 of which also include assisted living operations, 57 assisted and independent living operations, 26 home health agencies, 28 hospice agencies and nine home care businesses across sixteen states. Ensign owns the real estate at 78 of its 257 healthcare operations. Mr. Port reaffirmed that the organization is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses throughout the United States.
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services and other rehabilitative and healthcare services at 257 healthcare facilities, 26 home health agencies, 28 hospice agencies and nine home care businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon, Wisconsin, Kansas, South Carolina, Oklahoma, and Wyoming. More information about Ensign is available at http://www.ensigngroup.net.