The Ensign Group Adds Two Skilled Nursing Facilities in Tennessee
May 01 2024 - 6:00AM
The Ensign Group, Inc. (Nasdaq: ENSG), the parent company
of the EnsignTM 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 operations of Creekview Health and Rehabilitation, a
78-bed skilled nursing facility located in Knoxville, Tennessee and
Foothills Transitional Care and Rehabilitation, a 135-bed skilled
nursing facility located in Maryville, Tennessee. These
acquisitions are effective as of May 1, 2024 and are subject to a
long-term, triple net lease.
“After a long and disciplined search, we are
thrilled to be adding these two operations that, together with our
acquisition of TriState Health and Rehabilitation Center in
Harrogate, Tennessee a few months ago, create our first cluster in
the state,” said Barry Port, Ensign's Chief Executive Officer.
“We are excited to add these operations to the
Rocky Top family where we will aim to deliver top-notch care to the
residents and families we serve. We are so grateful to be building
on such a solid foundation of clinical strength and look forward to
making it even better as we relentlessly strive to stay true to our
core values,” said Tyler Albrechtsen, President of Rocky Top
Healthcare LLC, Ensign’s Tennessee-based subsidiary.
In separate transactions on the same day, Ensign
announced that it acquired six other operations, five of which
included real estate assets that were acquired by Standard Bearer
Healthcare REIT, Inc., Ensign’s captive real estate subsidiary.
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;
-
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;
-
Spencer Post Acute Rehabilitation Center, an 82-bed skilled nursing
facility located in Spencer, Iowa;
-
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.
In addition, Ensign also announced that its
affiliates acquired the operations of Midlothian Healthcare Center,
a 120-bed skilled nursing facility located in Midlothian, Texas,
which will be subject to a long-term, triple net lease.
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
EnsignTM
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.
Ensign (NASDAQ:ENSG)
Historical Stock Chart
From May 2024 to Jun 2024
Ensign (NASDAQ:ENSG)
Historical Stock Chart
From Jun 2023 to Jun 2024