The Ensign Group Acquires Skilled Nursing Facility in Texas
The Ensign Group, Inc. (Nasdaq: ENSG) announced the acquisition of Hays Nursing and Rehabilitation Center, a 116-bed facility in San Marcos, TX, effective December 1, 2020. This acquisition enhances Ensign's presence in Texas, adding to its existing operations in the region. The facility’s previous operator was a faith-based nonprofit, and it had a 49% occupancy rate at the time of acquisition. Ensign expects the acquisition to be accretive to earnings in 2021, expanding its portfolio to 228 healthcare operations across thirteen states, with 95 real estate assets owned.
- Acquisition of Hays Nursing and Rehabilitation Center enhances Texas operations.
- Expected to be accretive to earnings in 2021.
- Expands portfolio to 228 healthcare operations in 13 states.
- Facility had a low occupancy rate of 49% at acquisition.
SAN JUAN CAPISTRANO, Calif., Dec. 02, 2020 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ 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 operations of Hays Nursing and Rehabilitation Center, a 116-bed skilled nursing facility, located in San Marcos, TX. The acquisition was effective December 1, 2020 and will be subject to a long-term, triple net lease.
“We are excited to strengthen our presence in the state of Texas with the addition of this dynamic skilled nursing operation that will add to our several existing operations in Texas Hill Country,” said Barry Port, Ensign's Chief Executive Officer. He added that this operation, which had previously been operated by a faith-based nonprofit organization, is poised to enhance the healthcare and other services that will be offered.
Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary, added, “We look forward to working together with the local healthcare communities and an outstanding team of caregivers as we strive to exceed the clinical and social needs of each resident we are honored to serve.” He added that the company expects the newly-acquired facility, which had an occupancy rate of
This acquisition brings Ensign's growing portfolio to 228 healthcare operations, 24 of which also include assisted living operations, across thirteen states. Ensign owns 95 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 assisted living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 228 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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