The Ensign Group Acquires Healthcare Campus in Arizona

Rhea-AI Summary

The Ensign Group, Inc. (Nasdaq: ENSG) announced the acquisition of several healthcare facilities, enhancing its portfolio in the skilled nursing and senior living sectors. Effective July 1, 2022, the company acquired Villa Maria Post Acute and Rehabilitation, Villa Maria Wellness Living, and Tucson Recovery at Villa Maria in Arizona. Additionally, it acquired other facilities in Texas and California, bringing its total to 258 healthcare operations across thirteen states. The acquisitions support Ensign's strategy to expand its real estate and operations footprint in the healthcare market.

Positive

• Acquisition of Villa Maria facilities strengthens market presence in Tucson, Arizona.
• Expansion of portfolio to 258 healthcare operations across 13 states, indicating growth.
• Acquisition includes real estate, enhancing Standard Bearer's asset base.

Negative

• None.

SAN JUAN CAPISTRANO, Calif., July 06, 2022 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that it acquired the real estate and operations of Villa Maria Post Acute and Rehabilitation, a 65-bed skilled nursing facility, Villa Maria Wellness Living, a 31-bed assisted living facility and Tucson Recovery at Villa Maria, a 30-bed behavioral health unit, each located in Tucson, Arizona. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the acquisition was effective July 1, 2022.

“We are very excited to add this community to the Tucson market, where we have carefully looked for growth opportunity for some time,” said Barry Port, Ensign's Chief Executive Officer. “As always, we are also very pleased this opportunity included real estate to add to Standard Bearer’s growing portfolio,” he added.

Forrest Peterson, President of Bandera Healthcare, LLC, Ensign’s Arizona-based subsidiary, added, “We are very impressed with the caregivers in this community and feel our leaders are poised to add our experience to theirs as we seek to provide top-notch care to the residents we are fortunate to serve.”

In separate transactions on the same day, Ensign announced that in addition to Villa Maria, Standard Bearer also added four new real estate assets, one of which also included new operations, as follows:

• the real estate and operations of The Eden of Las Colinas, a 118-bed skilled nursing facility, located in Irving, Texas; and
• the real estate of Premier Care Center of Palm Springs, a 99-bed skilled nursing facility located in Palm Springs, California, Brookside Healthcare Center, a 97-bed skilled nursing facility located in Redlands, California, and Broadway Villa Post Acute, a 138-bed skilled nursing facility located in Sonoma, California, each of which is operated by an independent operating subsidiary of Ensign.

Also on the same day, Ensign announced that its affiliates entered into new long-term leases on five new operations, including the following:

• the operations of Henderson Health and Rehabilitation, a skilled nursing facility with 266 skilled nursing beds, located in Henderson, Nevada; and
• the operations of Pleasant Valley Healthcare and Rehabilitation Center, a 124-bed skilled nursing facility located in Garland, Texas, Millbrook Healthcare and Rehabilitation Center, a 124-bed skilled nursing facility in Lancaster, Texas, McKinney Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility in McKinney, Texas, and Park Manor Bee Cave, a 140-bed skilled nursing facility in Bee Cave, Texas.

All of these acquisitions were also effective July 1, 2022 and bring Ensign's growing portfolio to 258 healthcare operations, 26 of which also include senior living operations, across thirteen states.  Ensign subsidiaries, including Standard Bearer, now owns 105 real estate assets. 

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.

About Ensign™

The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 258 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.

Contact Information

The Ensign Group, Inc., (949) 487-9500, ir@ensigngroup.net

SOURCE: The Ensign Group, Inc.

FAQ

What facilities did Ensign acquire on July 1, 2022?

On July 1, 2022, Ensign acquired Villa Maria Post Acute and Rehabilitation, Villa Maria Wellness Living, and Tucson Recovery at Villa Maria in Arizona, as well as multiple facilities in Texas and California.

How many healthcare operations does Ensign have now?

Following the recent acquisitions, Ensign now operates a total of 258 healthcare facilities.

What is the strategic importance of the recent acquisitions for Ensign?

The acquisitions enhance Ensign's market presence and real estate portfolio, positioning the company for future growth in the healthcare sector.

What type of facilities are included in Ensign's new acquisitions?

The acquisitions include skilled nursing facilities, assisted living facilities, and a behavioral health unit.

How many new real estate assets did Standard Bearer acquire alongside the operations?

In addition to the Villa Maria facilities, Standard Bearer also acquired four new real estate assets in Texas and California.