MISSION VIEJO, Calif., May 6, 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 two facilities, California Mission Inn, a 143-unit assisted living facility in Rosemead, California, and Mission Care Center, a 59-bed skilled nursing facility that has been operated by an Ensign subsidiary as a leased facility since 2005. The acquisition was effective Saturday, May 3, 2014.
"We are committed to continuing the great work we've done at Mission Care Center and are confident that, with the addition of California Mission Inn, this senior care campus will be positioned to provide a full-service offering to address the specific needs and preferences of each resident," said Christopher Christensen, Ensign's President and Chief Executive Officer. He also noted that this is Ensign's third acquisition of real estate since Ensign announced its plans to separate substantially all of the real estate from its operating business. "We hope that these recent acquisitions will add clarity to Ensign's strategy following the spin-off, which is to continue to acquire and retain the real estate assets for both well-performing and struggling skilled nursing facilities across the United States," he added.
"We admire the great work done by the incredible team here and look forward to working together as we continue to strengthen our partnerships with patients and families to provide superior care," said John Gurrieri, President of Bridgestone Living, Inc., Ensign's seniors housing subsidiary. He also added that Bridgestone expects operations in California Mission Inn, which had an occupancy rate of approximately 72% at acquisition, to be mildly accretive to earnings in 2014.
Ensign purchased the facilities with cash and will retain ownership of the real estate it acquired in this transaction and the other acquisitions it has completed or plans to complete in 2014.
This acquisition brings Ensign's growing portfolio to 122 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 122 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, email@example.com
Source:The Ensign Group, Inc.