The Ensign Group Acquires Skilled Nursing Facility in Colorado
Rhea-AI Summary
The Ensign Group (Nasdaq: ENSG) has expanded its portfolio with the acquisition of Holly Heights Care and Rehabilitation, a 133-bed skilled nursing facility in Denver, Colorado. This facility will be operated by an Ensign-affiliated operator, with the real estate acquired by Standard Bearer Healthcare REIT, Ensign's captive real estate company. The transaction was effective August 1, 2024.
Additionally, Ensign acquired two more facilities on the same day: Greater Southside Health and Rehabilitation in Des Moines, Iowa (76 beds), and City Park Healthcare and Rehabilitation Center in Denver, Colorado (125 beds). These acquisitions bring Ensign's portfolio to 315 healthcare operations across fourteen states, with 29 including senior living operations. Standard Bearer now owns 122 real estate assets.
Positive
- Expansion of portfolio with three new skilled nursing facilities
- Increased presence in Colorado market
- Growth of Standard Bearer Healthcare REIT's real estate portfolio
- Diversification across 14 states with 315 healthcare operations
Negative
- None.
News Market Reaction – ENSG
In the trading session that priced this news, ENSG gained 0.04%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN JUAN CAPISTRANO, Calif., Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM 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 Holly Heights Care and Rehabilitation, a 133-bed skilled nursing facility located in Denver, Colorado. The real estate will be acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the facility will be operated by an Ensign-affiliated operator effective as of August 1, 2024.
“We are thrilled to continue our recent growth in Colorado” said Barry Port, Ensign's Chief Executive Officer. “This acquisition also provided another great opportunity to add to Standard Bearer’s growing portfolio,” he added.
Dave Jorgensen, President of Endura Healthcare LLC, Ensign’s Colorado-based subsidiary, added “We are excited to work together with our healthcare partners at this Denver operation and look forward to building on the outstanding tradition of quality care in this community.”
In separate transactions on the same day, Ensign announced that it acquired Greater Southside Health and Rehabilitation, a 76-bed skilled nursing facility located in Des Moines, Iowa and City Park Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility located in Denver, Colorado. One of the new facilities will be subject to a long-term, triple net lease and the other will be purchased by Standard Bearer and leased to an Ensign-affiliated operator.
All of these acquisitions are effective as of August 1, 2024 and bring Ensign's growing portfolio to 315 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 EnsignTM
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 315 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.
