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Ensign Group Acquires Three Skilled Nursing Operations Across Texas
November 4, 2019 at 4:05 PM EST
SAN JUAN CAPISTRANO, Calif., Nov. 04, 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 real estate and operations of the following skilled nursing facilities: Treasure Hills Healthcare and Rehabilitation Center, a skilled nursing facility with 110 skilled nursing beds, located in Harlingen, Texas; Keller Oaks Healthcare Center, a skilled nursing facility with 146 skilled nursing beds, located in Keller, Texas; and Kirkwood Manor, a skilled nursing facility with 162 skilled nursing beds, located in New Braunfels, Texas. The acquisitions were effective November 1, 2019.
Mr. Barry Port, Ensign’s Chief Executive Officer, said, “These strategic acquisitions add further strength to our existing operations in key healthcare markets in the Rio Grande Valley, the Fort Worth area and the Greater San Antonio area.” He added, “We are excited to work together with hospital systems and managed care providers to better serve all their customers and patients with comprehensive post-acute solutions across the continuum of care.”
Kevin Niccum, President of Keystone Care, Inc., Ensign’s Texas-based subsidiary, noted that the operations in this facility are in good condition, adding, “the former operator has done an excellent job of creating a caring, competent and patient-centered environment”, and that Keystone hopes to enhance and build upon what he called “a strong foundation of quality care already present.” He added that staff, resident and community response to Ensign's acquisition of the facility has been very positive and that he expects these operations to be accretive to earnings in 2020.
In separate transactions on the same day, Ensign announced that its affiliates acquired the real estate and operations of three skilled nursing operations all in San Antonio, Texas, including: Hunters Pond Rehabilitation and Healthcare, a 128-bed skilled nursing facility; Pecan Valley Rehabilitation and Healthcare, a 124-bed skilled nursing facility; and Westover Hills Rehabilitation and Healthcare, a 124-bed skilled nursing facility. These acquisitions were also effective November 1, 2019. Mr. Niccum noted that all of these facilities will each be operated by a subsidiary of Keystone Care, Inc., Ensign’s Texas-based portfolio subsidiary.
These acquisitions bring Ensign's growing portfolio to 208 skilled nursing operations, 23 of which also include assisted living operations across thirteen states. Ensign owns the real estate at 87 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 218 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.