The Ensign Group Adds Two Assisted Living Operations to Campuses in Arizona

Rhea-AI Summary

The Ensign Group (Nasdaq: ENSG) announced the acquisition of three healthcare facilities effective March 1, 2022. These include Amarsi Assisted Living in Glendale, a 103-bed facility, and Citadel Assisted Living Facility in Mesa, featuring 180 independent living units and 150 assisted living beds. Additionally, the company's affiliates acquired The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler, Texas. These acquisitions enhance Ensign's portfolio to 250 healthcare operations across 13 states, reaffirming its commitment to expanding its senior living and skilled nursing services.

Positive

• Acquisition of three facilities bolsters Ensign's healthcare portfolio to 250 operations.
• Strategic long-term, triple net lease agreements for new facilities enhance financial stability.
• Expansion reflects Ensign's commitment to providing quality care across multiple states.

Negative

• None.

SAN JUAN CAPISTRANO, Calif., March 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 the following assisted living facilities in Arizona:

• Amarsi Assisted Living, a 103-bed assisted living facility located in Glendale, Arizona; and
• Citadel Assisted Living Facility, a 180-unit independent living and 150-bed assisted living facility located in Mesa, Arizona.

These acquisitions were effective March 1, 2022 and will be subject to a long-term, triple net lease. Both of these operations are part of a healthcare campus that includes skilled nursing services operated by Ensign affiliates.

“We are very excited to welcome these facilities back into the Ensign family,” said Barry Port, Ensign's Chief Executive Officer. “As we’ve said throughout this process, this is a great win for both Ensign and Pennant and we truly hope this reflects the commitment we have to Pennant, and the commitment Pennant has to Ensign, as we work to ensure the best possible care for those we have been entrusted to serve,” he added.

"We are excited to work with such familiar operations back into a campus setting and look forward to providing top-quality care to our residents and their families," added Forrest Peterson, President of Bandera Healthcare LLC, Ensign’s Arizona-based portfolio subsidiary.

In a separate transaction on the same day, Ensign announced that its affiliates acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility located in in Tyler, Texas. This acquisition was also effective March 1, 2022.

These acquisitions bring Ensign's growing portfolio to 250 healthcare operations, 23 of which also include senior living operations, across thirteen states. Ensign owns 102 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^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 250 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 recent acquisitions did Ensign Group (ENSG) announce?

Ensign Group announced the acquisition of Amarsi Assisted Living and Citadel Assisted Living Facility in Arizona, as well as The Waterton Healthcare and Rehabilitation in Texas, all effective March 1, 2022.

How many facilities does Ensign Group (ENSG) operate after the recent acquisitions?

After the recent acquisitions, Ensign Group operates a total of 250 healthcare operations across 13 states.

What type of leases is Ensign Group (ENSG) entering for its new acquisitions?

Ensign Group is entering long-term, triple net lease agreements for its newly acquired facilities.

Where are the newly acquired facilities by Ensign Group (ENSG) located?

The newly acquired facilities are located in Glendale and Mesa, Arizona, and Tyler, Texas.