The Ensign Group Acquires Real Estate in Arizona, California and Kansas

Rhea-AI Summary

The Ensign Group, Inc. (Nasdaq: ENSG) announced the acquisition of five skilled nursing and assisted living facilities in Arizona, California, and Kansas, effective November 15, 2021. This acquisition expands Ensign's real estate portfolio to 100 assets and supports its strategy to enhance value through organic growth. CEO Barry Port highlighted the strong performance and growth potential of these facilities. Ensign currently operates 245 healthcare operations across 13 states and continues to seek additional acquisition opportunities.

Positive

• Acquisition expands Ensign's real estate portfolio to 100 assets.
• Facilities have significant organic growth potential.
• Strong contributors in their respective locations.

Negative

• None.

SAN JUAN CAPISTRANO, Calif., Nov. 17, 2021 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign^TM 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 at the following skilled nursing and assisted living facilities in Arizona, California and Kansas, which acquisitions were effective November 15, 2021:

• Horizon Post-Acute and Rehabilitation Center, a 179-bed skilled nursing facility located in Glendale, AZ, which is operated by an independent operating subsidiary of Ensign;
• Mission Care Center, a 58-bed skilled nursing facility located in Rosemead, CA, which is operated by an independent operating subsidiary of Ensign;
• California Mission Inn, a 144-bed assisted living facility located in Rosemead, CA, which is operated by an independent operating subsidiary of The Pennant Group, Inc.;
• The Healthcare Resort of Leawood, a 94-bed skilled nursing facility located in Leawood, KS, which is operated by an independent operating subsidiary of Ensign; and
• The Healthcare Resort of Topeka, a 105-bed skilled nursing facility located in Topeka, KS, which is operated by an independent operating subsidiary of Ensign.
  

“We are extremely excited to purchase these real estate assets, which, in each case, have been operated by Ensign and Pennant affiliates for a number of years” said Barry Port, Ensign's Chief Executive Officer. “These operations are strong contributors in their respective locations already, but we believe each one has significant organic growth potential, which will generate meaningful long-term value in our growing real estate portfolio,” he added.

"This real estate acquisition was a perfect opportunity to showcase one of the several strategies for Ensign’s captive REIT, which will be to capture the upside created in the real estate as the assets we currently operate, as well as doing new deals that will be operated by an Ensign affiliate or other third party operators," said Chad Keetch, Ensign’s Chief Investment Officer.

This acquisition brings Ensign's growing real estate portfolio to 100 assets. In total Ensign now operates 245 healthcare operations, 22 of which also include senior living operations, across thirteen states.  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^TM

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 245 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 November 15, 2021?

Ensign acquired Horizon Post-Acute and Rehabilitation Center, Mission Care Center, California Mission Inn, The Healthcare Resort of Leawood, and The Healthcare Resort of Topeka.

How does the acquisition impact Ensign's real estate portfolio?

This acquisition increases Ensign's real estate portfolio to 100 assets, enhancing its market presence.

What is the expected benefit of the newly acquired facilities?

The newly acquired facilities are expected to yield significant organic growth and long-term value.

How many healthcare operations does Ensign currently operate?

Ensign operates a total of 245 healthcare operations across 13 states.

What is Ensign's acquisition strategy?

Ensign is actively seeking to acquire both well-performing and struggling skilled nursing and senior living facilities throughout the U.S.