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The Ensign Group Acquires Four Skilled Nursing Facilities in North Texas
December 3, 2019 at 6:00 AM EST
SAN JUAN CAPISTRANO, Calif., Dec. 03, 2019 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign(TM) group of companies, which provide skilled nursing and assisted living services, physical, occupational and speech therapies and other rehabilitative and healthcare services, announced today that it acquired the operations of four skilled nursing facilities in Dallas, Texas. The acquisitions were effective December 1, 2019 and will be subject to long-term, triple net leases with purchase options following year 5 of the lease. The acquisitions include:
Crestwood Health and Rehabilitation Center, a skilled nursing facility with 112 skilled nursing beds and an assisted living center with 72 assisted living beds;
Beacon Harbor Healthcare and Rehabilitation, a skilled nursing facility with 190 skilled nursing beds;
Rowlett Health and Rehabilitation Center, a skilled nursing facility with 150 skilled nursing beds; and
Pleasant Manor Healthcare and Rehabilitation, a skilled nursing facility with 126 skilled nursing beds.
"We are thrilled to add these operations in our healthiest markets in Texas," said Barry Port, Ensign's Chief Executive Officer. “Together with Ensign's existing operations in the Dallas area, these new additions strengthen our local clusters and will magnify our ability to provide top quality care to the patients and families we serve,” he added.
"We are excited to work with the wonderful caregivers at each of these facilities to enhance the quality of skilled nursing care services provided to their present and future patients, and to meet and exceed the clinical, emotional and social needs of each resident and their family," added Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary.
In a separate transaction on the same day, Ensign announced that its affiliates acquired the real estate and operations of Mission Hills Post Acute, a 160-bed skilled nursing facility in Mesa, Arizona. This acquisition was also effective December 1, 2019.
These acquisitions bring Ensign's growing portfolio to 213 skilled nursing operations, 24 of which also include assisted living operations, across thirteen states. Ensign owns the real estate at 89 healthcare operations. Mr. Port reaffirmed that Ensign 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 and other rehabilitative and healthcare services at 223 healthcare facilities, in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Texas, Utah, Washington and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.