The Ensign Group Adds Skilled Nursing Facility in Texas
May 01 2024 - 5:00AM
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 operations of
Midlothian Healthcare Center, a 120-bed skilled nursing facility
located in Midlothian, Texas. This acquisition is effective as of
May 1, 2024 and is subject to a long-term, triple net lease.
“We are very excited to be growing again in
Texas, one of our most mature geographies,” said Barry Port,
Ensign's Chief Executive Officer. “This operation fits very well
within our organization, both from a geographic and clinical
standpoint,” he added.
“We are looking forward to combining efforts
with an amazing team already in place to take Midlothian Healthcare
to an even higher level of quality. Our local clusters are healthy
and strong and eager to add this new operation to the team,” said
Andy Ashton, President of Keystone Healthcare LLC, Ensign’s
Texas-based subsidiary.
In separate transactions on the same day, Ensign
announced that it acquired seven 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.
Also, on the same day, Ensign announced that its
affiliates 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., both of 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 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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