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The Ensign Group Acquires Home Health Operations in Arizona and California, No Terms

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The Ensign Group, Inc. (NASDAQ: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care, assisted living and urgent care companies, announced today that Cornerstone Healthcare, Inc., Ensign's home health and hospice portfolio subsidiary, had acquired Apismellis Homecare, a Medicare and Medicaid certified home health agency serving the communities of Lake Havasu City, Bullhead City, and Parker, Arizona, and Big River, California. The acquisition was effective August 15, 2015.

"We are pleased to announce this addition to our home health operations," said Christopher Christensen, Ensign's President and Chief Executive Officer. "This acquisition deepens our presence in the State of Arizona and allows us to serve communities with significant need for home health and other post-acute care services."

"This strategic acquisition allows us to meet the home health needs of underserved populations in the Western Arizona and Eastern California healthcare markets," said Cornerstone's President and Chief Executive Officer Daniel Walker. "More importantly," Walker continued, "Apismellis brings with it a team of exceptional and passionate clinicians committed to providing Life Changing Service to our patients in these communities."

Mr. Walker affirmed that he expects the operations to be accretive to earnings in 2015. With the acquisition, Cornerstone subsidiaries now operate 15 home health operations, 13 hospice operations and three home care operations in nine western states.

Mr. Walker reaffirmed that Cornerstone is actively seeking additional opportunities to acquire both well-performing and struggling home health, hospice, and home care operations across the United States.

Posted-In: M&A News Press Releases

 

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