Ensign Group Strengthens Footprint: Acquires Two Skilled Nursing Facilities In South Carolina

The Ensign Group, Inc.  ENSG acquired the operations of South Carolina-based skilled nursing facilities Ashley River Healthcare and The Reserve Healthcare and Rehabilitation. The financial terms were not disclosed.

Ashley River Healthcare is a 125-bed skilled nursing facility in Charleston, while The Reserve Healthcare is a 135-bed skilled nursing facility in Hanahan.

In the recently reported Q2, total skilled services revenue jumped 25.9% Y/Y to $884.2 million. 

Chad Keetch, Ensign's Chief Investment Officer, and Executive Vice President, had said during Q2 that Ensign's overall strategy will continue to include leasing and acquiring real estate and that the company is actively looking for performing and underperforming operations in several states.

The latest buyouts bring Ensign's growing portfolio to 295 healthcare operations, 26 of which include senior living operations across 13 states.  

"These buildings present a great geographical and strategic fit within this particular market," said Barry Port, Ensign's Chief Executive Officer.

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Price Action: ENSG shares traded lower by 3.5% to $95.62 on the last check Tuesday.