MISSION VIEJO, Calif., May 2, 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 Casas Adobes Post-Acute Rehabilitation Center, a 230-bed skilled nursing facility in Tucson, Arizona. The acquisition was effective Thursday, May 1, 2014.
"We are excited to add a second operation this year to our 15 existing operations in Arizona," said Christopher Christensen, Ensign's President and Chief Executive Officer, referring to Ensign's March acquisition of Horizon Post-Acute and Rehabilitation Center, a 196-bed skilled nursing facility in Glendale, Arizona. "Together with Ensign's existing operations in the Tucson market, this new addition strengthens our local cluster and will magnify our ability to provide top quality care to the patients and families we serve," he added.
"We are proud to be joining a wonderful team of caregivers as we seek to reinforce and strengthen the caring, patient-centered environment they have created here," said John Albrechtsen, President of Bandera, Ensign's Arizona-based portfolio subsidiary. He added that the residents, their families, and the broader community have embraced the news of Ensign's acquisition of this facility and are encouraged by Ensign's local reputation. Casas Adobes had an occupancy rate of approximately 43% at acquisition and is expected to be mildly accretive to earnings in 2014.
Ensign purchased Casas Adobes with cash. In addition, the real estate assets it acquired in this acquisition and in the Horizon Post-Acute acquisition will remain with Ensign after the completion of the previously-disclosed plan to separate Ensign's real estate business from its healthcare operations.
This acquisition brings Ensign's growing portfolio to 121 healthcare facilities, eight hospice companies, ten home health agencies and eleven 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 121 facilities, eight hospice companies, ten home health businesses and eleven 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.