The Ensign Group Adds Seven New Operations in Colorado
Rhea-AI Summary
The Ensign Group (Nasdaq: ENSG) has expanded its operations in Colorado, acquiring seven skilled nursing facilities effective September 1, 2024. These facilities, located in Pueblo, Durango, Windsor, Loveland, Greeley, and Longmont, add a total of 760 beds to Ensign's portfolio. The acquisitions are subject to long-term, triple net leases.
In a separate transaction, Ensign also acquired a 102-bed facility in Overland Park, Kansas. With these additions, Ensign's portfolio now comprises 323 healthcare operations across fourteen states, including 29 with senior living operations. Ensign subsidiaries own 122 real estate assets.
CEO Barry Port emphasized the strategic fit of these acquisitions within Ensign's existing Colorado footprint and reaffirmed the company's active pursuit of growth opportunities nationwide.
Positive
- Expansion of operations with 7 new skilled nursing facilities in Colorado, adding 760 beds
- Additional acquisition of a 102-bed facility in Kansas
- Growth of portfolio to 323 healthcare operations across 14 states
- Strategic fit within existing Colorado footprint
- Long-term, triple net leases for all new acquisitions
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 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 acquisitions were effective as of September 1, 2024, and are subject to long-term, triple net leases.
“We are thrilled to continue our recent expansion in Colorado. These operations are a perfect fit within our existing footprint in the state. Our strong team of local leadership in Colorado are poised to continue our tradition of excellent clinical leadership with the addition of these buildings,” said Barry Port, Ensign's Chief Executive Officer.
Dave Jorgensen, President of Endura Healthcare LLC, Ensign’s Colorado-based subsidiary, added “Our team is so excited to add these operations. We can’t wait to add our experience and culture to these facilities and believe them to be a perfect fit as we seek to provide top-notch care to the residents and families of Colorado we serve.”
In a separate transaction on the same day, Ensign announced that it acquired Prairie Ridge Health and Rehabilitation, a 102-bed skilled nursing facility located in Overland Park, Kansas. The new facility will be subject to a long-term triple net lease.
All of these acquisitions are 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.
