MISSION VIEJO, Calif., Jan. 4, 2012 /PRNewswire/ -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care and assisted living companies, announced today that it has acquired Rose Court Senior Living, a 93-unit assisted living facility in Phoenix, Arizona. The asset acquisition was effective on Friday, December 30, 2011 and the transfer of operations was effective on January 1,
"This opportunistic acquisition further solidifies Ensign's operating synergies in the Phoenix market," said Christopher Christensen, Ensign's President and Chief Executive Officer. He also noted that the facility was purchased from a lender that foreclosed on the property last summer.
"We look forward to enhancing the quality of residential care services provided to Rose Court's present and future residents, and helping them achieve and maintain the quality of life they deserve," said John Gurrieri, President of Bridgestone Living, Inc., Ensign's seniors housing subsidiary. He also added that Bridgestone expects operations in the Rose Court property, which had an occupancy rate of approximately 50% at acquisition, to be operationally accretive to earnings in 2012.
Bridgestone and Ensign have expanded Ensign's assisted and independent living base at an accelerated pace over the past eighteen months, with significant acquisitions in Denver, Colorado, Ventura, California, Las Vegas, Nevada, Abilene, Texas, Salt Lake City, Utah, Dallas, Texas and now
The purchase was made with cash and brings Ensign's growing portfolio to 102 healthcare facilities, 77 of which are Ensign-owned, three hospice companies and four home health businesses in 10 states. Ensign affiliates hold purchase options on five of their 25 leased facilities. Mr. Christensen reaffirmed it is actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing and assisted living operations across 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 for both long-term residents and short-stay rehabilitation patients at 102 facilities, three hospice companies and four home health businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa and Nebraska. More information about Ensign is available at http://www.ensigngroup.net.
SOURCE The Ensign Group, Inc.