The Ensign Group Acquires Post-Acute Care Campus in Arizona
The Ensign Group (Nasdaq: ENSG) announced the acquisition of a post-acute care retirement campus in Tempe, AZ, effective August 1, 2020. This campus includes Tempe Post Acute, a 62-bed skilled nursing facility, and Desert Marigold Senior Living of Tempe, featuring 72 assisted living beds and 90 independent living units. CEO Barry Port expressed confidence in the team's ability to integrate operations during the pandemic. The acquisition expands Ensign's portfolio to 226 healthcare operations in 13 states, with ongoing plans for further acquisitions.
- Expansion to a well-respected healthcare campus in a growing market.
- Increased portfolio to 226 healthcare operations across 13 states.
- Strategic acquisition during a challenging time, demonstrating resilience.
- Local leadership team experienced in transitions and acquisitions.
- None.
SAN JUAN CAPISTRANO, Calif., Aug. 03, 2020 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM group of companies, which provide skilled nursing and assisted living services, physical, occupational and speech therapies and other rehabilitative and healthcare services, announced today that it acquired the real estate and operations of a post-acute care retirement campus located in Tempe, AZ. The acquisition was effective August 1, 2020. The acquisition includes Tempe Post Acute, a 62-bed skilled nursing facility and Desert Marigold Senior Living of Tempe a senior living center with 72 assisted living beds and 90 independent living units.
"We are very excited to add this well-respected healthcare campus to our mature operations in the greater Phoenix market" said Barry Port, Ensign's Chief Executive Officer. “As our first transaction since the COVID pandemic arrived at our door steps, our local leadership team in Arizona has taken extra precautions and have implemented a care plan to meet the needs of patients while closely following local and state guidelines. We have full confidence in our team’s ability to add this operation in the midst of a pandemic and look forward to working with our new team,” he added.
“This is a unique time to add an operation but our local team of clinical and operational leaders are amongst our most experienced transition teams that have participated in many acquisitions in Arizona,” said Forrest Peterson, President of Bandera Healthcare LLC, Ensign’s Arizona-based subsidiary. “We are also very impressed with the talented group of caregivers at these operations and look forward to working together to enhance the clinical outcomes and to take this operation to new heights,” he added.
These acquisitions bring Ensign's growing portfolio to 226 healthcare operations, 24 of which also include assisted living operations, across thirteen states. Ensign owns the real estate at 92 healthcare operations. 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 EnsignTM
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 226 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.
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