The Ensign Group Acquires Skilled Nursing Facility in Texas
The Ensign Group (Nasdaq: ENSG) announced its acquisition of Park Manor of McKinney, a 138-bed skilled nursing facility in Texas, effective August 1, 2022. This acquisition, executed by a subsidiary of Standard Bearer Healthcare REIT, Inc., expands Ensign's portfolio to 259 healthcare operations across thirteen states. CEO Barry Port emphasized the company’s commitment to growth, with ongoing efforts to acquire additional real estate and healthcare facilities in the U.S. The acquisition strengthens Ensign's operational capabilities and enhances its real estate assets, now totaling 106.
- Acquisition adds Park Manor of McKinney, enhancing the operational portfolio.
- Increases total healthcare operations to 259 across thirteen states.
- Strategic focus on expanding real estate and healthcare services.
- None.
SAN JUAN CAPISTRANO, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM 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 Park Manor of McKinney, a 138-bed skilled nursing facility located in McKinney, Texas. 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 August 1, 2022.
“This acquisition adds to an already busy summer of growth and continues to showcase our commitment to grow our operations and real estate portfolio,” said Barry Port, Ensign's Chief Executive Officer. "We are very excited to work with a wonderful group of caregivers at this facility and look forward to combining our experience with theirs as we join in our efforts to provide top-notch care to the resident and their families in this community," added Mike Muhlestein, an operational market leader in Keystone Care LLC, Ensign’s Texas-based portfolio subsidiary.
This acquisition brings Ensign's growing portfolio to 259 healthcare operations, 26 of which also include senior living operations, across thirteen states. Ensign subsidiaries, including Standard Bearer, now owns 106 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 EnsignTM
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 259 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
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