The Ensign Group Adds Six Skilled Nursing Facilities in Texas
The Ensign Group announced the acquisition of six skilled nursing facilities in Texas, effective October 1, 2022. The facilities acquired include Brodie Ranch, Onion Creek, Riverside, West Oaks, Lakeside, and Mystic Park, totaling 730 beds across Austin and San Antonio. Each acquisition will involve a long-term, triple net lease. Additionally, Ensign affirmed its strategy to actively seek more acquisition opportunities in skilled nursing and senior living sectors. This brings Ensign's operational portfolio to 268 healthcare facilities across thirteen states.
- Acquisition of six skilled nursing facilities in Texas enhances Ensign's presence in the market.
- Total number of healthcare operations increased to 268, demonstrating growth.
- Commitment to actively seek additional acquisition opportunities across the U.S.
- 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 operations of the following skilled nursing facilities in Texas:
- 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.
The acquisitions were effective October 1, 2022. Each of these acquisitions will be subject to a long-term, triple net lease.
“These acquisitions are a perfect fit in our Austin and San Antonio markets and are facilities we’ve had our eye on for some time,” said Barry Port, Ensign's Chief Executive Officer. “Our experienced leaders are prepared to provide top-notch care to the residents and their families at each of these facilities,” he added.
"We look forward to welcoming these facilities and partnering with our local markets and clusters to enhance the level of care provided at these facilities," added Andy Ashton, President of Keystone Care LLC, Ensign’s Texas-based portfolio subsidiary.
In a separate transactions on the same day, Ensign announced that Standard Bearer also acquired the real estate and operations of Fountain Hills Post Acute, a 64-bed skilled nursing facility located in Fountain Hills, Arizona.
Also, on the same day, Ensign announced that its affiliates entered into new long-term leases on two new operations, which include 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, senior 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.
