The Ensign Group Acquires Healthcare Campus in Arizona
May 01 2024 - 6:00AM
The Ensign Group, Inc. (Nasdaq: ENSG), the parent company
of the Ensign™ group of companies, which invest in and provide
skilled nursing and senior living services, physical, occupational
and speech therapies, other rehabilitative and healthcare services,
and real estate, announced today that it acquired the real estate
and operations of River Park Post Acute and Elmwood Senior Living,
a healthcare campus with 66 bed skilled nursing beds, 45 assisted
living units and 119 independent living units located in Chandler,
Arizona. The real estate was acquired by a subsidiary of Standard
Bearer Healthcare REIT, Inc., Ensign’s captive real estate company,
and the acquisition is effective as of May 1, 2024.
“We are thrilled to be adding this operation
Arizona, which we have admired for years,” said Barry Port,
Ensign's Chief Executive Officer. “This acquisition also provided
another great opportunity to add to Standard Bearer’s growing
portfolio,” he added.
“We look forward to working together with the
local healthcare communities and an outstanding team of caregivers
as we strive to exceed the clinical and social needs of each
resident and the families we are honored to serve,” said Forrest
Peterson, President of Bandera Healthcare LLC, Ensign’s
Arizona-based subsidiary.
In separate transactions on the same day, Ensign
announced that it acquired seven other operations, four of which
included real estate assets that were acquired by Standard Bearer.
Each of these new facilities will be operated by an Ensign
affiliated operator, including the following:
- Spencer Post Acute Rehabilitation Center, an 82-bed skilled
nursing facility located in Spencer, Iowa;
- Hillside Village of De Soto Rehabilitation and Nursing Center,
a facility with 49 skilled nursing beds and 38 assisted living
units, located in De Soto, Kansas;
- South Davis Specialty Care a 95-bed skilled nursing operation,
located in Bountiful, Utah; and
- Western Peaks Specialty Hospital, a 43-bed long-term acute care
hospital (LTACH) located in Bountiful, Utah.
Also, on the same day, Ensign announced that its
affiliates acquired the following operations, which will be subject
to long-term, triple net leases:
- Creekview Health and Rehabilitation, a 78-bed skilled nursing
facility located in Knoxville, Tennessee;
- Foothills Transitional Care and Rehabilitation, a 135-bed
skilled nursing facility located in Maryville, Tennessee; and
- Midlothian Healthcare Center, a 120-bed skilled nursing
facility located in Midlothian, Texas.
All of these acquisitions are effective as of
May 1, 2024 and bring Ensign's growing portfolio to 310 healthcare
operations, 29 of which also include senior living operations,
across fourteen states. Ensign subsidiaries, including Standard
Bearer, own 119 real estate assets. Mr. Port reaffirmed that Ensign
is actively seeking opportunities to acquire real estate and to
lease both well-performing and struggling skilled nursing, senior
living and other healthcare related businesses throughout the
United States.
About Ensign™
The Ensign Group, Inc.'s independent operating
subsidiaries provide a broad spectrum of skilled nursing and senior
living services, physical, occupational and speech therapies and
other rehabilitative and healthcare services at 310 healthcare
facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas,
Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah,
Washington and Wisconsin. More information about Ensign is
available at http://www.ensigngroup.net.
Contact Information
The Ensign Group, Inc., (949) 487-9500,
ir@ensigngroup.net
SOURCE: The Ensign Group, Inc.
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