MISSION VIEJO, Calif., March 5, 2013 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care, assisted living and urgent care companies, announced today that it has acquired Legacy Rehabilitation and Living, a 150-bed skilled nursing facility located in Amarillo, Texas. The asset acquisition was effective on Friday, March 1, 2013.
"We are anxious to build on Legacy's outstanding reputation for quality care and patient outcomes," said Rick Forscutt, President of Keystone Care, Inc., a subsidiary of which will operate Legacy Rehabilitation and Living. "We admire the great work done by the former owners and the incredible team of caregivers, and look forward to working together as we continue to strengthen their partnerships with patients and families to provide superior care," he added.
"We are excited to extend our growing footprint in Texas, and look forward to being a solid contributor to Amarillo's vibrant healthcare community," said Christopher Christensen, Ensign's President and Chief Executive Officer. Noting that the facility has an excellent clinical history, a well-known care team and an excellent reputation in the community, he called it "the perfect facility to establish Ensign's presence in Amarillo."
Mr. Christensen noted that Ensign expects the newly-acquired facility, which had an occupancy rate of 50% at acquisition, to be accretive to earnings in 2013.
The purchase was made with cash and brings Ensign's growing portfolio to 109 healthcare facilities, 87 of which are Ensign-owned, seven hospice companies and seven home health businesses across 11 states. Ensign affiliates hold purchase options on two of its 22 leased facilities. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire 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 109 facilities, seven hospice companies and seven home health businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska and Oregon. More information about Ensign is available at http://www.ensigngroup.net.
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CONTACT: The Ensign Group, Inc., (949) 487-9500, firstname.lastname@example.org
Source:The Ensign Group, Inc.