The Ensign Group Acquires Healthcare Campus in Nebraska
Rhea-AI Summary
The Ensign Group, Inc. (Nasdaq: ENSG) has announced the acquisition of two healthcare facilities in Norfolk, Nebraska: St. Joseph Rehabilitation and Care Center, an 83-bed skilled nursing facility, and Skyview Villa Assisted Living, a 20 licensed-bed assisted living facility. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign's captive real estate company. This acquisition, effective October 1, 2024, expands Ensign's portfolio to 324 healthcare operations across fourteen states, with 30 including senior living operations. Ensign subsidiaries, including Standard Bearer, now own 123 real estate assets.
Barry Port, Ensign's CEO, expressed enthusiasm for the growth in Nebraska and the addition to Standard Bearer's Midwest portfolio. Dave Jorgensen, President of Gateway Healthcare , Ensign's Nebraska-based subsidiary, highlighted the facilities' strong reputation and the team's readiness to provide elevated care.
Positive
- Acquisition of two healthcare facilities in Nebraska, expanding market presence
- Addition of 83 skilled nursing beds and 20 assisted living beds to portfolio
- Expansion of real estate assets through Standard Bearer Healthcare REIT
- Growth of total healthcare operations to 324 across fourteen states
- Strengthening of Midwest portfolio
Negative
- None.
News Market Reaction
On the day this news was published, ENSG gained 0.11%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN JUAN CAPISTRANO, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- 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 real estate and operations of St. Joseph Rehabilitation and Care Center, an 83-bed skilled nursing facility; and Skyview Villa Assisted Living, a 20 licensed-bed assisted living facility. Both facilities are located in Norfolk, Nebraska. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the acquisition is effective as of October 1, 2024.
“We are thrilled to add these facilities and excited for the growth in Nebraska,” said Barry Port, Ensign's Chief Executive Officer. “This acquisition also enables us to continue adding to Standard Bearer’s growing Midwest portfolio,” he added.
Dave Jorgensen, President of Gateway Healthcare LLC, Ensign’s Nebraska-based subsidiary, added “We could not be more excited to add to our Nebraska footprint with these operations in Norfolk. These facilities have a tremendous reputation in the community and our team is ready to work and provide elevated care and experiences for our patients and their families.”
This acquisition is effective as of October 1, 2024, and brings Ensign's growing portfolio to 324 healthcare operations, 30 of which also include senior living operations, across fourteen states. Ensign subsidiaries, including Standard Bearer, own 123 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 324 healthcare facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, 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@ensignservices.net
SOURCE: The Ensign Group, Inc.
FAQ
What healthcare facilities did The Ensign Group (ENSG) acquire in Nebraska?
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