The Ensign Group Acquires Skilled Nursing Facility in Arizona

Rhea-AI Summary

The Ensign Group, Inc. (Nasdaq: ENSG) announced the acquisition of Fountain Hills Post Acute, a 64-bed skilled nursing facility in Arizona, effective October 1, 2022. This acquisition adds to Standard Bearer Healthcare REIT's real estate portfolio and enhances Ensign's operational presence in Maricopa County. Additionally, Ensign has entered into long-term leases for eight new skilled nursing facilities in Texas and South Carolina, expanding its portfolio to 268 healthcare operations across 13 states. Ensign is actively seeking further acquisition opportunities.

Positive

• Acquisition of Fountain Hills Post Acute enhances market position in Arizona.
• Long-term leases on eight skilled nursing facilities expand overall operations.
• Portfolio growth to 268 healthcare operations across 13 states.
• Increase in real estate assets owned by subsidiaries to 107.

Negative

• None.

SAN JUAN CAPISTRANO, Calif., Oct. 03, 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 Fountain Hills Post Acute, a 64-bed skilled nursing facility located in Fountain Hills, 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 October 1, 2022.

“We are very excited to add this skilled nursing operation in Maricopa County, where we have a mature market and leadership,” said Barry Port, Ensign's Chief Executive Officer. “We are also thrilled 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 excited to join the caregivers at this facility and know our leaders will seek to provide top-notch care to the residents and their families we are fortunate to serve.”

In separate transactions on the same day, Ensign announced that its affiliates entered into new long-term leases on eight new operations, including the following:

• the operations of Brodie Ranch Nursing and Rehabilitation, a 120-bed skilled nursing facility located in Austin, Texas, Onion Creek Nursing and Rehabilitation Center, a 125-bed skilled nursing facility located in Austin, Texas, Riverside Nursing and Rehabilitation Center, a 122-bed skilled nursing facility in Austin, Texas, West Oaks Nursing and Rehabilitation Center, a 125-bed skilled nursing facility in Austin, Texas, Lakeside Nursing and Rehabilitation Center, a 118-bed skilled nursing facility in San Antonio, Texas, and Mystic Park Nursing and Rehabilitation Center, a 119-bed skilled nursing facility in San Antonio, Texas; and
• the operations of Oak Harbor Healthcare, a 132-bed skilled nursing facility located in Mount Pleasant, South Carolina, and Oak View Health and Rehabilitation, a 190-bed skilled nursing facility located in Conway, South Carolina.

All of these acquisitions were also effective October 1, 2022 and bring Ensign's growing portfolio to 268 healthcare operations, 26 of which also include senior living operations, across thirteen states.  Ensign subsidiaries, including Standard Bearer, now owns 107 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 268 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 is the significance of Ensign Group's acquisition of Fountain Hills Post Acute?

The acquisition enhances Ensign Group's presence in Arizona's skilled nursing market, contributing to its overall operational growth.

How many new skilled nursing facilities did Ensign acquire recently?

Ensign recently acquired the operations of eight new skilled nursing facilities in Texas and South Carolina.

What is the total number of healthcare operations Ensign Group has after the recent acquisitions?

After the acquisitions, Ensign Group now operates 268 healthcare facilities.

Which states are included in Ensign Group's portfolio after the expansion?

Ensign Group's portfolio now spans across 13 states, including Arizona, California, and Texas.

What are the future plans of Ensign Group regarding acquisitions?

Ensign Group is actively seeking opportunities to acquire both well-performing and struggling healthcare-related businesses throughout the United States.