MISSION VIEJO, Calif., March 4, 2014 (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, assisted living and urgent care companies, announced today that it acquired Horizon Post-Acute and Rehabilitation Center, a 196-bed skilled nursing facility in Glendale, Arizona. The acquisition was effective Saturday, March 1, 2014.
"This acquisition broadens Ensign's existing operational base to the vibrant and well-regarded Glendale healthcare community," said Christopher Christensen, Ensign's President and Chief Executive Officer. "The combination of this facility along with Ensign's existing operations in the greater Phoenix area strengthens our ability to exceed the clinical, emotional and social needs of patients and families we serve in Arizona" he added.
"We are excited to work side-by-side with each member of this outstanding team of caregivers, each of whom have put their hearts and souls into this building, to enhance the quality of skilled nursing care services provided to present and future residents and their families" said John Albrechtsen, President of Bandera, Ensign's Arizona-based portfolio subsidiary. He added that the resident and community response to Ensign's acquisition of the facility has been overwhelmingly positive and that he expects the facility, which had an occupancy rate of approximately 45% at acquisition, to be mildly accretive to earnings in 2014.
Ensign purchased the facility with cash and the real estate it acquired in this acquisition will not be included in the previously-disclosed plan to separate Ensign's real estate business from its healthcare operations.
This acquisition brings Ensign's growing portfolio to 120 healthcare facilities, seven hospice companies, nine home health agencies and nine urgent care clinics across 11 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, urgent care services and other rehabilitative and healthcare services at 120 facilities, seven hospice companies, nine home health businesses and nine urgent care clinics in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska and Oregon. More information about Ensign is available at http://www.ensigngroup.net.
CONTACT: The Ensign Group, Inc., (949) 487-9500, firstname.lastname@example.org
Source:The Ensign Group, Inc.