The Ensign Group Acquires Long-Term Acute Care Hospital and Skilled Nursing Facility in Utah
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 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. 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.
“This acquisition represents a milestone in our
organization, as it is the first acquisition of a long-term acute
care hospital in our company’s history,” said Barry Port, Ensign's
Chief Executive Officer. “We have been carefully reviewing this
opportunity for some time and believe we have the leadership in
place for a successful transition into a new line of business. We
are extremely humbled and honored to have been chosen to continue
the legacy of these well-respected operations,” he added.
“We are pleased to combine such a devoted and
experienced team to our existing operational and clinical leaders
in Utah and we are confident that they are poised to accomplish
great things together at these operations,” said Steve Farnsworth,
President of Milestone Healthcare LLC, Ensign’s Utah-based
subsidiary. “We are excited to work together with our healthcare
partners as we strive to provide top-notch care for our patients
and their families.”
In separate transactions on the same day, Ensign
announced that it acquired six other operations, three 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:
- 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;
- Spencer Post Acute Rehabilitation Center, an 82-bed skilled
nursing facility located in Spencer, Iowa; and
- 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.
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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