MISSION VIEJO, Calif., April 2, 2015 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), announced today that it has acquired the underlying real estate of Panorama Gardens Nursing and Rehabilitation Center, a 149-bed skilled nursing facility in Panorama City, California. An Ensign subsidiary has been operating the facility since September 2000 under a lease. The acquisition was effective April 1, 2015.
"We are also pleased to announce the purchase of the real estate at Panorama Gardens, which we have operated as a leased facility for nearly 15 years," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added, "We are especially thrilled for Panorama's experienced and dedicated team, who are excited to continue their success for many years to come with the added certainty that comes from the ownership of the real estate."
Mr. Christensen also stated that the purchase further demonstrates Ensign's deep and long-term commitment to the local healthcare community and that Ensign will continue to acquire and retain real estate, noting that Ensign now owns the underlying real estate in 19 of its 144 operations.
Ensign also announced today that it acquired Coral Desert Rehabilitation and Care, a 60-bed all-private/Medicare skilled nursing facility in St. George, Utah. The acquisition of the operation and the commencement of a new long-term lease were effective as of April 1, 2015.
These acquisitions bring Ensign's growing portfolio to 144 healthcare 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 continues to see a very healthy pipeline for growth opportunities within its existing footprint and in new markets. He also indicated that the organization is actively seeking and negotiating several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses.
About Ensign ™
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 144 facilities, eleven hospice companies, thirteen home health businesses, 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, firstname.lastname@example.org
Source:The Ensign Group, Inc.