The Ensign Group Acquires Two Skilled Nursing Facilities in Colorado

Rhea-AI Summary

The Ensign Group (NASDAQ: ENSG) announced the acquisition of Brighton Care Center and Malley Transitional Care Center, effective December 1, 2022, adding to its portfolio of skilled nursing services in Colorado. This acquisition expands Ensign's operations to 271 healthcare facilities across 13 states. The company aims to enhance operational efficiency and quality of care in its growing portfolio, which includes 108 real estate assets. CEO Barry Port expressed optimism about the strategic fit of these facilities within Ensign's existing operations.

Positive

• Acquired two skilled nursing facilities, expanding presence in Colorado.
• Portfolio now includes 271 operations across 13 states.
• Facility acquisitions expected to enhance operational performance.

Negative

• None.

SAN JUAN CAPISTRANO, Calif., Dec. 02, 2022 (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 operations of Brighton Care Center, a 108-bed skilled nursing facility located in Brighton, Colorado, and Malley Transitional Care Center, a 162-bed skilled nursing facility located in Northglenn, Colorado. These acquisitions were effective December 1, 2022 and will be subject to a long-term, triple net lease.

“We are excited about growing in Colorado,” said Barry Port, Ensign's Chief Executive Officer. “These facilities are a great fit to our existing portfolio and we look forward to the contribution each will have in our operational market and clusters in Colorado,” he added.

Dave Jorgensen, President of Endura Healthcare LLC, Ensign’s Colorado-based subsidiary, added “we are thrilled to add these outstanding teams of caregivers to our team of top-notch clinical and operational leaders, as we strive to provide quality care to the residents and families we are honored to serve at these facilities.”

This acquisition brings Ensign's growing portfolio to 271 healthcare operations, 26 of which also include senior living operations, across thirteen states.  Ensign subsidiaries, including Standard Bearer, own 108 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^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 271 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 strategic importance of the Ensign Group's acquisition of Brighton Care Center?

The acquisition aims to enhance Ensign's operational capabilities and market presence in Colorado, contributing positively to its existing portfolio.

When did Ensign Group acquire Brighton Care Center and Malley Transitional Care Center?

The acquisitions were effective on December 1, 2022.

How many healthcare facilities does Ensign Group operate after the acquisition?

After the acquisition, Ensign operates 271 healthcare facilities across 13 states.

What is the expected impact of the recent acquisition on Ensign's market position?

The acquisition is expected to strengthen Ensign's market position in Colorado and improve overall operational performance.