Market Overview

The Ensign Group Acquires Two Arizona Skilled Nursing Facilities


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 its subsidiaries have acquired Chandler Post Acute and Rehabilitation, a 120-bed skilled nursing facility in Chandler, Arizona, and Shea Post Acute Rehabilitation Center, a 105-bed skilled nursing facility in Scottsdale, Arizona. The acquisition of the operations and the commencement of a new long-term leases were effective, November 1, 2015.

"These operations add even further strength to our growing presence within key healthcare markets in Arizona," said Christopher Christensen, Ensign's President and Chief Executive Officer. "These beautifully maintained buildings will enhance our ability to partner with hospital systems and managed care providers to meet the needs of our customers with post-acute solutions across the continuum of care," he added.

"We are pleased to welcome a phenomenal team of caregivers to the Ensign family," said John Albrechtsen, President of Bandera, Ensign's Arizona-based portfolio subsidiary. "Our deep ties in these communities and throughout the state will allow us to build on the solid reputation we inherited," he added. Mr. Albrechtsen also noted that he expects the operations, which had a combined occupancy rate of approximately 79% at acquisition, to be mildly accretive to earnings in 2016.

In separate transactions on the same day, Ensign announced that it acquired the operations and the real estate of a skilled nursing facility in West Columbia, South Carolina, its first operation on the East Coast, and the real estate of a skilled nursing facility in El Cajon, California, which has been operated under a long-term lease since December 2014. Both transactions were also effective November 1, 2015.

These acquisitions bring Ensign's growing portfolio to 182 skilled nursing and assisted living operations, twenty-nine of which are owned, fourteen hospice agencies, fifteen home health agencies, three home care businesses and seventeen urgent care clinics across 14 states. Mr. Christensen reaffirmed that Ensign continues to see a very healthy pipeline for growth opportunities within its existing footprint and in new markets. He also indicated that the organization is actively seeking several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses.

Posted-In: News Press Releases


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