The Ensign Group Purchases Fifteen Wisconsin Assisted Living Assets
MISSION VIEJO, Calif., Dec. 27, 2016 (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 has acquired the underlying real estate of fifteen assisted living operations located throughout Wisconsin. An Ensign subsidiary has been operating each facility since August 2015 under a lease with a purchase option. The acquisition was made using cash from the company's revolver effective December 21, 2016 and includes:
- Scandinavian Court Assisted Living, a 19-unit assisted living facility in Denmark;
- Brenwood Park Assisted Living, a 46-unit assisted living facility in Franklin;
- Cottonwood Manor Assisted Living, a 30-unit assisted living facility in Green Bay;
- Madison Pointe Senior Living, a 39-unit assisted living facility in Madison;
- Kenosha Senior Living, a 37-unit assisted living facility in Kenosha;
- Harbor View Assisted Living, a 39-unit assisted living facility in
- McFarland Villa Assisted Living, a 35-unit assisted living facility in McFarland;
- Racine Commons Assisted Living, a 74-unit assisted living facility in Racine;
- Riverview Village Senior Living, a 44-unit assisted living facility in Menomonee Falls;
- The Shores of Sheboygan Assisted Living, a 67-unit assisted living facility in Sheboygan;
- Willow Brooke Senior Living, a 82-unit assisted living facility in Stevens Point;
- Stoughton Meadows Assisted Living, a 39-unit assisted living facility
- Meadow View Assisted Living, a 24-unit assisted living facility in Two Rivers;
- Mountain Terrace Senior Living, a 72-unit assisted living facility in Wausau; and
- Cranberry Court Assisted Living, a 40-unit assisted living facility in Wisconsin Rapids.
"With our ownership of this real estate, we are excited about deepening our commitment to the healthcare community in the great state of Wisconsin," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added, "We are especially
thrilled for the experienced and dedicated teams at each of these operations, who are excited to continue their success for many years to come with the added certainty that comes from the ownership of the real estate."
Mr. Christensen also stated that the purchase further demonstrates that Ensign will continue to acquire and retain real estate, noting that Ensign now owns the underlying real estate in 50 of its 209 operations. He also reiterated that Ensign is actively seeking and negotiating several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses.
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 209 healthcare facilities, eighteen hospice agencies, seventeen home health agencies and three home care businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon, Wisconsin, Kansas and South Carolina. More information about Ensign is available at http://www.ensigngroup.net.
The Ensign Group, Inc., (949) 487-9500, email@example.com
Source: The Ensign Group, Inc.
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