Ensign Group Inc
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Health Care : Health Care Providers & Services | Small Cap Blend
Company profile

The Ensign Group, Inc. is a holding company, which provides skilled nursing, senior living, and rehabilitative services, as well as other ancillary businesses (including mobile diagnostics and medical transportation) through its subsidiaries. The Company operates through two segments: skilled services and real estate. The skilled services segment includes the operation of skilled nursing facilities and rehabilitation therapy services. The real estate segment primarily comprised of properties owned by the Company and leased to skilled nursing and senior living operations, including its own operating subsidiaries and third-party operators, and are subject to triple-net long-term leases. It offers skilled nursing, senior living and rehabilitative care services through approximately 245 skilled nursing and senior living facilities. Its real estate portfolio includes approximately 100 owned real estate properties located in Arizona, California, Colorado, Idaho, and Nebraska, among others.

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Ensign's Standard Bearer Healthcare REIT, Inc. Acquires Real Estate Assets in California

6:00 am ET July 6, 2022 (Globe Newswire) Print

EQNX::TICKER_START (NASDAQ:ENSG), EQNX::TICKER_END The Ensign Group, Inc. (Nasdaq: ENSG) announced today that Standard Bearer Healthcare REIT, Inc., a subsidiary of Ensign, acquired the real estate at the following skilled nursing facilities in California, which acquisitions were effective July 1, 2022:

"We are extremely excited to purchase these real estate assets," said Barry Port, Ensign's Chief Executive Officer. "These operations are ones Ensign has operated for a number of years. Each of these operations have been strong contributors to our operational success, and will now add meaningful value to our growing real estate portfolio," he added.

This acquisition, along with other deal closings announced on the same day, continues to showcase one of Standard Bearer's primary strategies, which is to capture the upside created by Ensign operators in properties that have historically been subject to a long-term lease. "We value the relationships we've shared with the owners of these assets and are pleased that we were able to help them achieve their estate planning goals while simultaneously growing Standard Bearer. We are always excited to purchase properties we know so well and have operated for years and look forward to more deals like this in the future. We also continue to evaluate new opportunities that would include operations that will be run by Ensign and some that could be operated by third-parties," said Chad Keetch, Ensign's Chief Investment Officer.

In separate transactions on the same day, Ensign announced that Standard Bearer also added two new operations that included real estate, including the following:

Also on the same day, Ensign announced that its affiliates entered into new long-term leases on five new operations, including the following:

All of these acquisitions were also effective July 1, 2022 and bring Ensign's growing portfolio to 258 healthcare operations, 26 of which also include senior living operations, across thirteen states. Ensign subsidiaries, including Standard Bearer, now owns 105 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, assisted 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 258 healthcare facilities, in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, 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



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