MISSION VIEJO, Calif., March 7, 2012 /PRNewswire/ -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care, assisted living and urgent care companies, announced today that it has acquired Hillcrest Haven Convalescent Hospital, a 113-unit skilled nursing facility in Pocatello, Idaho. The asset acquisition was effective on Thursday, March 1, 2012.
"This is opportunistic acquisition further solidifies Ensign's presence in the important Southeastern Idaho area," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added that the combination of this facility with Ensign's existing skilled nursing and home health and hospice operations in Idaho further enhances Ensign's operating synergies across the state.
"We look forward to enhancing the quality of skilled nursing care services provided to Hillcrest Haven's present and future patients, and helping them achieve and maintain the quality of life they deserve," said Brian Newberry, President of Milestone Healthcare, Inc., a subsidiary of which will operate Hillcrest. He also added that Milestone expects operations in the Hillcrest property, which had an occupancy rate of approximately 45% at acquisition, to be operationally dilutive to earnings in 2012.
The purchase was made with cash and brings Ensign's growing portfolio to 104 healthcare facilities, 79 of which are Ensign-owned, three hospice companies, five home health businesses and two urgent care businesses. Ensign affiliates hold purchase options on five of their 25 leased facilities. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing, assisted living and other healthcare-related businesses 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, urgent care and other rehabilitative and healthcare services at 104 facilities, three hospice companies and five home health businesses in California, Arizona, Texas, Washington, Utah
, Idaho, Colorado, Nevada, Iowa, Nebraska and Oregon. More information about Ensign is available at http://www.ensigngroup.net.
SOURCE The Ensign Group, Inc.