MISSION VIEJO, Calif., May 7, 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 has acquired Mt. Ogden Health & Rehabilitation Center, a 108-bed skilled nursing facility in Ogden, Utah. An Ensign subsidiary has been operating the facility since July 2006 under a sublease arrangement with the ground lessee. The underlying ground lease has a remaining term of 40 years with the ability to extend the term further. The acquisition was effective today, Wednesday, May 7, 2014.
"This is our fourth addition to Ensign's real estate portfolio since Ensign announced its plans to separate substantially all of the real estate from its operating business," said Christopher Christensen, Ensign's President and Chief Executive Officer. He also added that these recent acquisitions are just the beginning of Ensign's execution of its 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.
Ensign purchased the facility with cash and will retain ownership of the real estate it acquired in this transaction and the other acquisitions it has recently completed or plans to complete in 2014.
Ensign's growing portfolio includes 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, firstname.lastname@example.org
Source:The Ensign Group, Inc.