The Ensign Group Expands Presence in Texas
Rhea-AI Summary
The Ensign Group (NASDAQ: ENSG) has expanded its Texas presence through multiple acquisitions. The company acquired Mesquite Post Acute Care, a 120-bed skilled nursing facility in Lubbock, Texas, through its real estate subsidiary Standard Bearer Healthcare REIT, effective February 1, 2025.
In a separate transaction effective January 31, 2025, Standard Bearer acquired the real estate of four additional facilities: Beacon Harbor Healthcare & Rehabilitation (190 beds), Pleasant Manor Healthcare & Rehabilitation (126 beds), Crestwood Health & Rehabilitation Center (112 skilled nursing beds and 36 assisted living units), and Rowlett Health & Rehabilitation Center (150 beds). These facilities were already operated by Ensign under leases.
With these acquisitions, Ensign's portfolio now includes 334 healthcare operations across 15 states, with 30 facilities offering senior living operations. Standard Bearer owns 134 real estate assets.
Positive
- Expansion of real estate portfolio with acquisition of 5 facilities in Texas
- Strategic clustering of operations in Lubbock market
- Portfolio growth to 334 healthcare operations and 134 owned real estate assets
- Conversion of 4 leased properties to owned assets, potentially improving profit margins
Negative
- None.
News Market Reaction – ENSG
On the day this news was published, ENSG gained 1.98%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN JUAN CAPISTRANO, Calif., Feb. 03, 2025 (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 Mesquite Post Acute Care, a 120-bed skilled nursing facility located in Lubbock, Texas. 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 February 1, 2025.
“We are thrilled to add this facility to our organization in one of our best markets in Texas. We have been looking for the right opportunity to expand in west Texas and Bender Terrace was the perfect fit,” said Barry Port, Ensign's Chief Executive Officer. “This facility will cluster extremely well with our existing operation in Lubbock and is another addition to Standard Bearer’s ever-growing portfolio,” he added.
Andy Ashton, President of Keystone Healthcare LLC, Ensign’s Texas-based subsidiary, had this to say about the acquisition “Bender Terrace is an amazing facility that our local leaders cannot wait to begin working together with them. We are excited to continue the strong tradition of excellence we are inheriting and we look forward to adding additional resources in order to provide the high quality care to the residents and their families.”
In a separate transaction effective January 31, 2025, Ensign announced that through Standard Bearer, it had acquired the real estate of Beacon Harbor Healthcare & Rehabilitation, a 190-bed skilled nursing facility located in Rockwall, Texas; Pleasant Manor Healthcare & Rehabilitation, a 126-bed skilled nursing facility located in Waxahachie, Texas; Crestwood Health & Rehabilitation Center, a healthcare campus with 112 skilled nursing beds and 36 assisted living units located in Wills Point, Texas; and Rowlett Health & Rehabilitation Center, a 150 bed skilled nursing facility located in Rowlett, Texas. Each of these facilities have been operated by an Ensign affiliated company for the last five years under two leases with a third-party owner. Each operation will continue to be operated by an Ensign affiliated operator and will be subject to long-term triple net leases with Standard Bearer.
These acquisitions bring Ensign's growing portfolio to 334 healthcare operations, 30 of which also include senior living operations, across 15 states. Ensign subsidiaries, including Standard Bearer, own 134 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 334 healthcare facilities in Alabama, 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.
