Mission Viejo, CA (GLOBE NEWSWIRE) - The Ensign Group, Inc. (NASDAQ:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies, announced today that it acquired the real estate and operations of two skilled nursing facilities in Arizona. The acquisition was effective September 1, 2017, and includes:
“These operations are poised to be excellent additions to our existing transitional care operations in Arizona,” said Christopher Christensen, Ensign's President and Chief Executive Officer. “As a result of their consistency in delivering best-in-class care, our outstanding leaders and caregivers in Arizona have established themselves as the leaders in post-acute care across the state. They have successfully extended that reputation to our new and transitioning operations and we are anxious to see what these new additions will become under their leadership,” Christensen added.
"We are excited about the dedication of the caregivers, the support of the residents and their families, and the amazing potential of these operations to better serve the needs of the community," said Jim Guschl, President of Bandera Healthcare, Inc., Ensign’s Arizona-based operating subsidiary. Mr. Guschl added that these facilities had a combined occupancy rate of approximately 68% at the time of acquisition and that he expects them to be accretive to earnings in 2018.
This acquisition brings Ensign's growing portfolio to 229 facilities, 63 of which are owned, twenty-one hospice agencies, eighteen home health agencies and three home care businesses across fourteen states. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire real estate or to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses across the United States.
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services and other rehabilitative and healthcare services at 229 healthcare facilities, twenty-one hospice agencies, eighteen home health agencies and three home care businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon, Wisconsin, Kansas and South Carolina. More information about Ensign is available at http://www.ensigngroup.net.
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SOURCE: The Ensign Group, Inc.