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The Ensign Group Acquires Idaho Skilled Nursing Facilities
November 1, 2018 at 6:00 AM EDT
MISSION VIEJO, Calif., Nov. 01, 2018 (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 real estate and operations of two skilled nursing facilities in Idaho. The acquisition was effective November 1, 2018, and includes:
Creekside Transitional Care and Rehabilitation, a 139-bed skilled nursing and 21-unit assisted living facility located in Meridian, Idaho; and
Bennett Hills Rehabilitation and Care Center, a 44-bed skilled nursing facility located in Gooding, Idaho.
“Our local leaders in Idaho continually apply proven best practices in their goal of becoming the operation of choice in their respective communities, making this acquisition a no-brainer,” said Christopher Christensen, Ensign's President and Chief Executive Officer. He added, “We are thrilled to add two great buildings to our footprint and look forward to serving the residents and their families alongside an amazing group of caregivers.”
"We could not be happier about the opportunity to become a trusted partner in the healthcare communities these facilities serve," said Spencer Burton, President of Pennant Healthcare, Inc., Ensign’s portfolio company based in the Pacific Northwest. He added that these facilities had an average occupancy rate of approximately 67% at the time of acquisition.
In separate transactions on the same day, Ensign announced that it acquired through portfolio subsidiaries the real estate and operations of a post-acute care retirement community in Kansas and, through Bridgestone Living LLC, its assisted and independent living portfolio company, the operations of four assisted living and memory care communities in Texas that its affiliates will operate under a long-term lease. The Kansas and Texas acquisitions were also effective November 1, 2018.
This acquisition, along with its other acquisitions announced today, brings Ensign's growing portfolio to 188 skilled nursing operations, 24 of which also include assisted living operations, 56 assisted and independent living operations, 21 hospice agencies, 22 home health agencies and six home care businesses across sixteen states. Ensign owns the real estate at 72 of its 244 healthcare operations. Mr. Christensen 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 244 healthcare facilities, 21 hospice agencies, 22 home health agencies and six 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.