The Ensign Group Acquires Healthcare Campus in Kansas
The Ensign Group, Inc. announced the acquisition of Hillside Village of De Soto Rehabilitation and Nursing Center in Kansas, along with seven other healthcare operations across multiple states. The total acquisitions bring Ensign's portfolio to 310 healthcare facilities in 14 states. The company is actively seeking opportunities to acquire real estate and lease healthcare businesses nationwide.
Expansion of Ensign's portfolio to 310 healthcare facilities across 14 states.
Diversification of services with acquisitions of skilled nursing facilities, assisted living units, and long-term acute care hospitals.
Active pursuit of growth opportunities by acquiring real estate and leasing healthcare businesses.
Potential challenges in managing a large portfolio of healthcare operations across multiple states.
Risks associated with acquiring struggling healthcare businesses that may require significant resources to turn around.
SAN JUAN CAPISTRANO, Calif., May 01, 2024 (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 Hillside Village of De Soto Rehabilitation and Nursing Center, a facility with 49 skilled nursing beds and 38 assisted living units, located in De Soto, Kansas. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the acquisition is effective as of May 1, 2024.
“We are thrilled to be adding this operation to Kansas, a market where we have had consistent, steady growth over the past year,” said Barry Port, Ensign's Chief Executive Officer. “This acquisition also provided another great opportunity to add to Standard Bearer’s growing portfolio,” he added.
Dave Jorgensen, President of Gateway Healthcare, LLC, Ensign’s Kansas-based subsidiary, added “We have always admired this operation and are very excited to partner with the entire team of caregivers. We look forward to adding building on the solid reputation of this operation and to providing excellent care to the residents we are honored to serve.”
In separate transactions on the same day, Ensign announced that it acquired seven other operations, four of which included real estate assets that were acquired by Standard Bearer. Each of these new facilities will be operated by an Ensign affiliated operator, including the following:
- River Park Post Acute and Elmwood Senior Living, a healthcare campus with 66 bed skilled nursing beds, 45 assisted living units and 119 independent living units located in Chandler, Arizona;
- Spencer Post Acute Rehabilitation Center, an 82-bed skilled nursing facility located in Spencer, Iowa;
- South Davis Specialty Care a 95-bed skilled nursing operation, located in Bountiful, Utah; and
- Western Peaks Specialty Hospital, a 43-bed long-term acute care hospital (LTACH) located in Bountiful, Utah.
Also, on the same day, Ensign announced that its affiliates acquired the following operations, which will be subject to long-term, triple net leases:
- Creekview Health and Rehabilitation, a 78-bed skilled nursing facility located in Knoxville, Tennessee;
- Foothills Transitional Care and Rehabilitation, a 135-bed skilled nursing facility located in Maryville, Tennessee; and
- Midlothian Healthcare Center, a 120-bed skilled nursing facility located in Midlothian, Texas.
All of these acquisitions are effective as of May 1, 2024 and bring Ensign's growing portfolio to 310 healthcare operations, 29 of which also include senior living operations, across fourteen states. Ensign subsidiaries, including Standard Bearer, own 119 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, senior 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 310 healthcare facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, 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 did The Ensign Group acquire in Kansas?
The Ensign Group acquired Hillside Village of De Soto Rehabilitation and Nursing Center, a facility with 49 skilled nursing beds and 38 assisted living units in De Soto, Kansas.
How many healthcare operations did Ensign acquire on the same day?
Ensign acquired a total of eight operations on the same day.
How many healthcare facilities does Ensign currently operate?
Ensign currently operates 310 healthcare facilities across 14 states.
What is Ensign's strategy for future growth?
Ensign is actively seeking opportunities to acquire real estate and lease healthcare businesses nationwide.
