The Ensign Group Acquires New Operation in Kansas
Rhea-AI Summary
The Ensign Group (Nasdaq: ENSG) has expanded its portfolio with new acquisitions in Kansas and Colorado. In Kansas, the company acquired Prairie Ridge Health and Rehabilitation, a 102-bed skilled nursing facility in Overland Park. In Colorado, Ensign added seven skilled nursing facilities with a total of 760 beds across various locations. These acquisitions, effective September 1, 2024, bring Ensign's portfolio to 323 healthcare operations across fourteen states, including 29 with senior living operations. The company also owns 122 real estate assets through its subsidiaries.
Ensign's CEO, Barry Port, emphasized the company's growth in Kansas and its active pursuit of acquisition opportunities nationwide. The new facilities will operate under long-term, triple net leases, aligning with Ensign's strategy of expanding its presence in the healthcare and senior living sectors.
Positive
- Expansion of portfolio with 8 new skilled nursing facilities across Kansas and Colorado
- Increased total healthcare operations to 323 across 14 states
- Strategic growth in the Kansas City healthcare market
- Ownership of 122 real estate assets through subsidiaries
Negative
- None.
News Market Reaction – ENSG
On the day this news was published, ENSG declined 2.15%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN JUAN CAPISTRANO, Calif., Sept. 03, 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 operations of Prairie Ridge Health and Rehabilitation, a 102-bed skilled nursing facility located in Overland Park, Kansas. This acquisition was effective as of September 1, 2024, and is subject to a long-term, triple net lease.
“This operation is another tremendous facility in Kansas, where we have been experiencing fantastic growth over the past year,” said Barry Port, Ensign's Chief Executive Officer.
Dave Jorgensen, President of Gateway Healthcare LLC, Ensign’s Kansas-based subsidiary, added “With this new addition, we are deepening our commitment to the greater Kansas City healthcare market and look forward to integrating this operation into our existing footprint. We can’t wait to get started working with the local leadership in the area to continue provide outstanding care to the residents and families in the area.”
In a separate transaction on the same day, Ensign announced that it acquired the following skilled nursing facilities in Colorado: Desert Willow Health and Rehabilitation Center, a 106-bed skilled nursing facility located in Pueblo, Colorado; Junction Creek Health and Rehabilitation Center, a 133-bed skilled nursing facility located in Durango, Colorado; Pelican Pointe Health and Rehabilitation Center, a 104-bed skilled nursing facility located in Windsor, Colorado; Riverbend Health and Rehabilitation Center, a 100-bed skilled nursing facility located in Loveland, Colorado; Broadview Health and Rehabilitation Center, a 100-bed skilled nursing facility located in Greeley, Colorado; Westlake Lodge Health and Rehabilitation Center, a 107-bed skilled nursing facility located in Greeley, Colorado; and Linden Place Health and Rehabilitation Center, a 110-bed skilled nursing facility located in Longmont, Colorado. These new facilities will be subject to long-term triple net leases.
All of these acquisitions were effective as of September 1, 2024, and bring Ensign's growing portfolio to 323 healthcare operations, 29 of which also include senior living operations, across fourteen states. Ensign subsidiaries, including Standard Bearer, own 122 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 323 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.
