MISSION VIEJO, Calif., June 3, 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 Englewood Post-Acute and Rehabilitation, an 82-bed skilled nursing facility in Englewood, Colorado and Rainier Rehabilitation, a 117-bed skilled nursing facility in Puyallup, Washington. The acquisitions were effective June 1, 2014.
"We are thrilled to increase our presence and capacity in the Denver healthcare community and to strengthen our solid footprint in the Greater Seattle area," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added, "Both facilities fit well within our clustering strategy and will benefit from the reputations we've developed in these markets as well as enhancing operating synergies we already enjoy there," he added.
Ensign is operating Rainier and Englewood under a long-term master lease arrangement. At acquisition, the combined occupancy rate for these two facilities was approximately 71%, and together they are expected to be mildly accretive to earnings in 2014.
In a separate transaction on the same day, an Ensign subsidiary also acquired two skilled nursing facilities located in Clintonville, Wisconsin: Pine Manor Healthcare Center, a 95-bed skilled nursing facility and Greentree Health & Rehabilitation Center, a 60-bed skilled nursing facility. The Wisconsin purchases were made with cash and Ensign will retain ownership of the real estate for both facilities.
These acquisitions, along with the Wisconsin acquisitions completed on the same date, bring Ensign's growing portfolio to 126 healthcare facilities, eight hospice companies, ten home health agencies and eleven urgent care clinics across 12 states. Since Ensign first announced its recently-completed spin-off of CareTrust REIT, Inc., it has acquired 9 facilities and purchased and retained the real estate in 7 of those transactions, bringing the total number of Ensign-owned properties to 8 facilities.
Mr. Christensen reiterated 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 126 facilities, eight hospice companies, ten home health businesses and eleven urgent care clinics in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon and Wisconsin. 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.