The Ensign Group Agrees to Add Its First Operations in Alaska and Oregon And Announces Expansion in Washington and California
The Ensign Group (NASDAQ: ENSG) has agreed to acquire eight healthcare facilities across Alaska, Washington, Oregon, and California from Providence Home and Community Care. The acquisition includes both real estate and operations, with Standard Bearer Healthcare REIT, Ensign's real estate subsidiary, purchasing all eight properties. Six facilities will be operated by Ensign affiliates, while two will be leased to a third-party operator.
This strategic expansion marks Ensign's first entry into Alaska and Oregon markets. Upon completion, Ensign's portfolio will expand to 330 healthcare operations across 16 states, including 32 with senior living operations. Standard Bearer will own 134 real estate assets, with 95 operated by Ensign affiliates and 35 by third-party tenants.
The Ensign Group (NASDAQ: ENSG) ha raggiunto un accordo per acquisire otto strutture sanitarie in Alaska, Washington, Oregon e California da Providence Home and Community Care. L'acquisizione comprende sia gli immobili che le operazioni, con Standard Bearer Healthcare REIT, la sussidiaria immobiliare di Ensign, che acquista tutte e otto le proprietà. Sei strutture saranno gestite da affiliate di Ensign, mentre due saranno affittate a un operatore terzo.
Questa espansione strategica segna il primo ingresso di Ensign nei mercati dell'Alaska e dell'Oregon. Una volta completata, il portafoglio di Ensign si espanderà a 330 operazioni sanitarie in 16 stati, comprese 32 con operazioni di vita per anziani. Standard Bearer possiederà 134 beni immobili, con 95 gestiti da affiliate di Ensign e 35 da locatari terzi.
The Ensign Group (NASDAQ: ENSG) ha acordado adquirir ocho instalaciones de atención médica en Alaska, Washington, Oregón y California de Providence Home and Community Care. La adquisición incluye tanto bienes raíces como operaciones, con Standard Bearer Healthcare REIT, la subsidiaria inmobiliaria de Ensign, comprando todas las ocho propiedades. Seis instalaciones serán operadas por afiliados de Ensign, mientras que dos serán arrendadas a un operador externo.
Esta expansión estratégica marca la primera entrada de Ensign en los mercados de Alaska y Oregón. Una vez completada, el portafolio de Ensign se expandirá a 330 operaciones de atención médica en 16 estados, incluyendo 32 con operaciones de vida para ancianos. Standard Bearer poseerá 134 activos inmobiliarios, de los cuales 95 serán operados por afiliados de Ensign y 35 por inquilinos externos.
The Ensign Group (NASDAQ: ENSG)는 Providence Home and Community Care로부터 알래스카, 워싱턴, 오리건 및 캘리포니아 전역의 8개 의료 시설을 인수하기로 합의했습니다. 이번 인수에는 부동산과 운영 모두 포함되며, Standard Bearer Healthcare REIT, Ensign의 부동산 자회사,가 8개의 모든 부동산을 구매합니다. 6개의 시설은 Ensign 계열사가 운영하고, 2개는 제3자 운영자에게 임대될 예정입니다.
이번 전략적 확장은 Ensign이 알래스카와 오리건 시장에 처음 진입하는 것을 의미합니다. 완료되면 Ensign의 포트폴리오는 16개 주에서 330개의 의료 운영으로 확장되며, 이 중 32개는 노인 생활 운영을 포함합니다. Standard Bearer는 134개의 부동산 자산을 보유하게 되며, 그 중 95개는 Ensign 계열사에 의해 운영되고 35개는 제3자 세입자에 의해 운영됩니다.
The Ensign Group (NASDAQ: ENSG) a convenu d'acquérir huit établissements de santé en Alaska, Washington, Oregon et Californie auprès de Providence Home and Community Care. L'acquisition comprend à la fois des biens immobiliers et des opérations, avec Standard Bearer Healthcare REIT, la filiale immobilière d'Ensign, achetant toutes les huit propriétés. Six établissements seront gérés par des affiliés d'Ensign, tandis que deux seront loués à un opérateur tiers.
Cette expansion stratégique marque la première entrée d'Ensign sur les marchés de l'Alaska et de l'Oregon. Une fois achevé, le portefeuille d'Ensign s'étendra à 330 opérations de santé dans 16 États, dont 32 avec des opérations de vie pour personnes âgées. Standard Bearer possédera 134 actifs immobiliers, dont 95 gérés par des affiliés d'Ensign et 35 par des locataires tiers.
The Ensign Group (NASDAQ: ENSG) hat sich agreed, acht Gesundheitseinrichtungen in Alaska, Washington, Oregon und Kalifornien von Providence Home and Community Care zu erwerben. Der Erwerb umfasst sowohl Immobilien als auch Betriebe, wobei Standard Bearer Healthcare REIT, die Immobilien-Tochtergesellschaft von Ensign, alle acht Immobilien kauft. Sechs Einrichtungen werden von Ensign-affiliierten betrieben, während zwei an einen Drittbetreiber vermietet werden.
Diese strategische Expansion markiert Ensigns ersten Eintritt in die Märkte von Alaska und Oregon. Nach Abschluss wird sich das Portfolio von Ensign auf 330 Gesundheitsbetriebe in 16 Bundesstaaten erweitern, darunter 32 mit Seniorenwohnanlagen. Standard Bearer wird 134 Immobilien besitzen, davon werden 95 von Ensign-affiliierten und 35 von Drittmietern betrieben.
- Geographic expansion into two new states (Alaska and Oregon)
- Addition of 8 high-quality real estate assets to portfolio
- Portfolio growth to 330 healthcare operations across 16 states
- Increase in real estate assets to 134 properties
- None.
Insights
SAN JUAN CAPISTRANO, Calif., Dec. 18, 2024 (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 has agreed to acquire eight facilities in the states of Alaska, Washington, Oregon, and California, subject to the completion of certain regulatory approvals and other closing conditions. This acquisition includes the real estate and operations and are being acquired from Providence Home and Community Care. The real estate assets for all eight facilities will be purchased by Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate subsidiary. Six of the eight operations will be operated by Ensign affiliated operating companies and two facilities will be operated by a third-party tenant that will enter into a new, long-term triple net master lease with Standard Bearer as landlord. It is anticipated that the transaction will be effective in the next few months.
Barry Port, Ensign’s Chief Executive Officer commented, “We are honored and excited for the opportunity to partner with Providence Health to transition these buildings into the Ensign family. We have profound respect for Providence and believe our values and culture are a great fit. We look forward to working together with the amazing teams of caregivers that have dedicated so much of themselves to these operations and hope that we can bring some additional tools and resources to enhance services for all their patients and families.”
Commenting on the news, Dianna Reely, chief of residential services for Providence Home and Community Care, said, “After an exhaustive search and a thoughtful, ethical discernment, Providence is confident in the selection of The Ensign Group and its affiliates as a proven, values-aligned leader in post-acute care and senior living. We believe that Ensign brings the expertise, resources and scale needed to transform and sustain these care centers and help to ensure our local communities have continued access to these vital facilities into the future.”
Chad Keetch, Ensign’s Chief Investment Officer added, “With this new addition, we not only are adding eight very high-quality real estate assets, but we are also expanding into Alaska and Oregon for the first time. We have proven Ensign leaders that will be planting the flag in both these new markets, and they will be looking to expand and establish new clusters in the future.”
Upon closing this transaction, Ensign’s growing portfolio will consist of 330 healthcare operations, 32 of which also include senior living operations, across 16 states. Ensign subsidiaries, including Standard Bearer, will own 134 real estate assets, of which 95 are operated by Ensign-affiliated operating companies and 35 are operated by third party tenants. Mr. Port reaffirmed that the organization is actively seeking several other transactions 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 Providence
Providence is a national, not-for-profit Catholic health system comprising a diverse family of organizations and driven by a belief that health is a human right. With 51 hospitals, more than 1,100 physician clinics, senior services, supportive housing, and many other health and educational services, the health system and its partners employ more than 129,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas, and Washington, with system offices in Renton, Wash., and Irvine, Calif. Learn about our vision of health for a better world at Providence.org.
About Ensign(TM)
The Ensign Group, Inc.'s independent subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 324 healthcare facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. As part of its investment strategy, the Company will also acquire, lease and own healthcare real estate to service the post-acute care continuum through acquisition and investment opportunities in healthcare properties. Ensign’s new business venture operating subsidiaries also offer several other post-acute-related services, including mobile x-ray, emergency and non-emergency transportation services, long-term care pharmacy and other consulting services also across several states. More information about Ensign is available at http://www.ensigngroup.net.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements that are based on management’s current expectations, assumptions and beliefs about its business, financial performance, operating results, the industry in which it operates and other future events. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding growth prospects, future operating and financial performance, and acquisition activities. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to materially and adversely differ from those expressed in any forward-looking statement.
These risks and uncertainties relate to the Company’s business, its industry and its common stock and include: reduced prices and reimbursement rates for its services; its ability to acquire, develop, manage or improve operations, its ability to manage its increasing borrowing costs as it incurs additional indebtedness to fund the acquisition and development of operations; its ability to access capital on a cost-effective basis to continue to successfully implement its growth strategy; its operating margins and profitability could suffer if it is unable to grow and manage effectively its increasing number of operations; competition from other companies in the acquisition, development and operation of facilities; its ability to defend claims and lawsuits, including professional liability claims alleging that our services resulted in personal injury, and other regulatory-related claims; and the application of existing or proposed government regulations, or the adoption of new laws and regulations, that could limit its business operations, require it to incur significant expenditures or limit its ability to relocate its operations if necessary. Additionally, our business and operations continue to be impacted by the unprecedented nature of the changes in the regulations and environment, as such, we are unable to predict the full extent and duration of the financial impact of these changes on our business, financial condition and results of operations. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company’s periodic filings with the Securities and Exchange Commission, including its Form 10-Q and 10-K, for a more complete discussion of the risks and other factors that could affect Ensign’s business, prospects and any forward-looking statements. Except as required by the federal securities laws, Ensign does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Contact Information
The Ensign Group, Inc., (949) 487-9500, ir@ensigngroup.net
SOURCE: The Ensign Group, Inc.
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