MISSION VIEJO, Calif., Jan. 04, 2016 (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 the operations and real estate of Compass Post Acute Rehabilitation, a 95-bed skilled nursing facility in Conway, South Carolina, Las Calinas Post Acute Rehabilitation, a 99-bed skilled nursing facility in Rock Hill, South Carolina, and Opus Post Acute Rehabilitation, a 100-bed skilled nursing facility in West Columbia, South Carolina. The acquisitions were effective December 31, 2015.
“These three operations are the perfect complement to our recently acquired operation in South Carolina and provide an excellent platform for us to implement our locally-driven cluster model,” said Christopher Christensen, Ensign's President and Chief Executive Officer. “As our local leadership teams work together, we are confident that they will become the best providers of post-acute services in each of these dynamic and growing healthcare markets,” he added.
"We are thrilled with the opportunity to make a difference in South Carolina in a more meaningful way,” said Steve Powell, President of Hopewell, Ensign's East Coast-based portfolio subsidiary. He added that the response to these acquisitions as well as Ensign’s current operation in West Columbia—Millennium Post Acute Rehabilitation—has been overwhelmingly positive. Mr. Christensen expects the new operations, which have a combined occupancy rate of approximately 65% at acquisition, to be mildly accretive to earnings in 2016.
These acquisitions bring Ensign's growing portfolio to 185 healthcare facilities, thirteen hospice agencies, fifteen home health agencies, three home care businesses and seventeen urgent care clinics across 14 states. Mr. Christensen reaffirmed that the organization is actively seeking several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses on the East Coast and throughout 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 185 facilities, thirteen hospice agencies, fifteen home health agencies, three home care businesses and seventeen urgent care clinics in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon, Wisconsin, Kansas and South Carolina. More information about Ensign is available at http://www.ensigngroup.net.
Contact Information The Ensign Group, Inc., (949) 487-9500, firstname.lastname@example.org
Source:The Ensign Group, Inc.