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.

Closing Price
$87.84
Day's Change
1.73 (2.01%)
Bid
--
Ask
--
B/A Size
--
Day's High
87.99
Day's Low
86.22
Volume
(Light)
Volume:
107,806

10-day average volume:
178,837
107,806

The Ensign Group Adds Five Skilled Nursing Facilities in Texas

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

EQNX::TICKER_START (NASDAQ:ENSG), EQNX::TICKER_END 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 the following skilled nursing facilities in Texas:

The acquisitions were effective July 1, 2022. The acquisition of The Eden of Las Colinas also includes the real estate at the facility, which was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign's captive real estate company. The four other acquisitions will be subject to a long-term, triple net lease.

"These acquisitions are a perfect fit and will serve to strengthen our existing operational markets and clusters in Texas," said Barry Port, Ensign's Chief Executive Officer. "Our leaders are poised to enhance the level of care that is provided to the residents and their families," he added.

"We look forward to working together with the local healthcare communities at each of these facilities, where there is an outstanding team of caregivers," added Mike Muhlestein, an operational market leader in Keystone Care LLC, Ensign's Texas-based portfolio subsidiary.

In separate transactions on the same day, Ensign announced that Standard Bearer also acquired one new campus that included real estate and three assets in California, including the following:

Also, on the same day, Ensign announced that its affiliate entered into a new long-term lease for Henderson Health and Rehabilitation, a skilled nursing facility with 266 skilled nursing beds, located in Henderson, Nevada.

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 own 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, 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 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

SOURCE: The Ensign Group, Inc.

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https://ml.globenewswire.com/media/43cc375c-326e-4962-89ff-3f917599b33f/small/the-ensign-group-inc-logo.jpg

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COMTEX_409756016/2010/2022-07-06T06:00:00

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