MISSION VIEJO, Calif., Feb. 9, 2011 /PRNewswire/ -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign(TM) group of skilled nursing, rehabilitative care services, hospice care and assisted living companies, announced today that it has acquired CHRISTUS St. Joseph Villa, a continuing care retirement community located in Salt Lake City, Utah, and the CHRISTUS Marian Center, a behavioral health center operated within the St. Joseph Villa campus.
An Ensign operating subsidiary began operating the facility on February 1, 2011 under a temporary lease arrangement pending the satisfaction of certain closing conditions. The conditions were met and ownership of the assets officially transferred on February 4, 2010.
Founded in 1947 by the Sisters of Charity of the Incarnate Word, CHRISTUS St. Joseph Villa has long been a fixture in Utah's senior care community. "The transition is going even more smoothly than expected, thanks largely to the professionalism and dedication of the outstanding care staff assembled by CHRISTUS here at St. Joseph Villa," said Matt Church, a longtime Ensign operational leader who will serve as the CEO of the expansive continuing care campus. "We are likewise dedicated to continuing and advancing the wonderful work that CHRISTUS has begun here, to meet and exceed the clinical, emotional, social and spiritual needs of each resident, staff member and family," he added. The staff of the
well-regarded facility has proudly elected to retain the name St. Joseph Villa.
St. Joseph Villa is a full-service senior care campus with 221 skilled nursing beds, 48 assisted living units and 60 independent living apartments. It also includes the Marian Center, the Salt Lake Valley's premier long-term inpatient acute psychiatric program, with its 12 psychiatric beds.
"We expect St. Joseph Villa to quickly become Ensign's flagship operation in the Salt Lake Valley," said Christopher Christensen, Ensign's President and Chief Executive Officer. Mr. Christensen reconfirmed that Ensign expects the campus, which had an occupancy rate at operational transfer of approximately 70%, to be operationally accretive to earnings in 2011. The facility is operated by a subsidiary of Milestone Healthcare, Inc., Ensign's Utah-based portfolio subsidiary, and joins existing healthcare operations in nine other Milestone subsidiaries in Utah and Southern Idaho. Ensign purchased the campus with cash.
Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling long-term care operations across the Western United States. The acquisition brings Ensign's growing portfolio to 85 healthcare facilities, two hospice companies and a home health business.
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 for both long-term residents and short-stay rehabilitation patients at 85 facilities, two hospice companies and a home health business in California, Arizona, Texas, Washington, Utah, Idaho and Colorado. More information about Ensign is available at http://www.ensigngroup.net.
SOURCE The Ensign Group, Inc.