MISSION VIEJO, Calif., July 1, 2015 (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 agreed to purchase ten skilled nursing and assisted living operations in Arizona. The acquisition of the operations and the commencement of a new long-term master lease are effective as of today, July 1, 2015. The asset acquisition includes:
- Granite Creek Health and Rehabilitation Center, a 107-bed skilled nursing facility located in Prescott, Arizona;
- Citadel Post Acute, a 110-bed skilled nursing facility located in Mesa, Arizona;
- Heritage Court Post Acute of Scottsdale, a 52-bed skilled nursing facility located in Scottsdale, Arizona;
- Lake Pleasant Post Acute Rehabilitation Center, a 105-bed skilled nursing facility located in Peoria, Arizona;
- South Mountain Post Acute, a 118-bed skilled nursing facility located in Phoenix, Arizona;
- La Canada Care Center, a 124-bed skilled nursing facility located in Tucson, Arizona;
- Mountain View Care Center, a 114-bed skilled nursing facility located in Tucson, Arizona;
- The Citadel Retirement Community, an 135-unit assisted living and an 185-unit independent living campus located in Mesa, Arizona;
- Las Fuentes Resort Village, an 82-unit assisted living and an 181-unit independent living campus located in Prescott, Arizona; and
- Mountain View Retirement Village, an 99-unit assisted living and an 102-unit independent living campus located in Tucson, Arizona.
"We welcome each and every healthcare provider to our team and look forward to combining our efforts to take our service to a whole new level by excelling in personalized healthcare and expanding our integrated care continuum throughout Arizona," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added that each new operation clusters very well with the skilled nursing, assisted living, home health and hospice operations already serving patients and residents throughout Arizona.
Mr. John Albrechtsen, President of Bandera Healthcare, Inc., Ensign's Arizona-based portfolio subsidiary, added, "This strategic acquisition significantly strengthens our presence in several key healthcare markets within Arizona and adds to our ability to partner with hospital systems and managed care providers to meet the needs of customers with post-acute solutions across the continuum of care." Mr. Albrechtsen also noted that he expects that each of these operations to be mildly accretive to earnings in 2015.
Ensign's operating subsidiaries entered into a new long-term master lease commencing July 1, 2015. In addition, Ensign's subsidiaries worked closely and cooperatively with the prior operator, a large skilled nursing company that has been operating the facility under a long-term lease that expired as of June 30, 2015.
In a separate transaction on the same day, an Ensign subsidiary also acquired Olympia Transitional Care and Rehabilitation, a 125-bed skilled nursing facility in Olympia, Washington. The Washington purchase was effective July 1, 2015 and Ensign will retain ownership of the real estate for the facility.
These acquisitions bring Ensign's growing portfolio to 161 healthcare facilities, twenty-six of which are owned, thirteen hospice agencies, fourteen home health agencies, three home care businesses and seventeen 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.
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 161 facilities, thirteen hospice companies, fourteen home health businesses, three home care businesses and seventeen 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.