×

The Ensign Group Acquires Nebraska Continuing Care Retirement Community

MISSION VIEJO, Calif., Feb. 3, 2015 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health, home care, hospice care, assisted living and urgent care companies, announced today that it acquired Skyline Nursing and Rehabilitation, a 100-bed skilled nursing operation, and Skyline Assisted and Independent Living, an independent living, assisted living, and seniors apartment operation with 209 units. The acquisition, which includes the real estate, was made in connection with the Chapter 11 bankruptcy filed by Skyline Manor, Inc. in May of last year and was effective February 1, 2015.

"We are excited to strengthen our presence in the city of Omaha with this well-respected retirement community," said Christopher Christensen, Ensign's President and Chief Executive Officer. "We hope that Skyline's residents and their families, as well as the team of caregivers, can move past this recent period of uncertainty with confidence that Skyline is now part of the Ensign family has a healthy and bright future ahead," he added.

"We acknowledge the important position that Skyline has played in this healthcare community and are anxious to begin working with this outstanding team of caregivers as we strive to exceed the clinical, emotional and social needs of each resident we are honored to serve," said John Gurrieri, President of Bridgestone Living, LLC, Ensign's seniors housing subsidiary. Ensign expects operations in Skyline, which had an occupancy rate of approximately 69%at acquisition, to be mildly accretive to earnings in 2015.

This purchase, along with the Abilene, Texas acquisition announced by Ensign on the same day, brings its growing portfolio to 143 facilities, eleven hospice agencies, thirteen home health agencies, two home care businesses and sixteen urgent care clinics across 12 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.

About Ensign(TM)

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 home care services, hospice services, urgent care services and other rehabilitative and healthcare services at 143 facilities, eleven hospice agencies, thirteen home health agencies, two home care businesses and sixteen 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 ir@ensigngroup.net

Source:The Ensign Group, Inc.