The Ensign Group Grows in Colorado
Rhea-AI Summary
The Ensign Group (Nasdaq: ENSG) has expanded its operations in Colorado with the acquisition of City Park Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility in Denver. This acquisition, effective August 1, 2024, is subject to a long-term, triple net lease. Simultaneously, Ensign acquired two additional facilities: Greater Southside Health and Rehabilitation in Des Moines, Iowa (76 beds), and Holly Heights Care and Rehabilitation in Denver, Colorado (133 beds).
These acquisitions bring Ensign's portfolio to 315 healthcare operations across fourteen states, with 29 including senior living operations. Ensign subsidiaries, including Standard Bearer, now own 122 real estate assets. The company continues to seek opportunities for growth in skilled nursing, senior living, and other healthcare-related businesses throughout the United States.
Positive
- Expansion of operations with acquisition of three new skilled nursing facilities
- Growth in portfolio to 315 healthcare operations across 14 states
- Increase in real estate assets owned by Ensign subsidiaries to 122
Negative
- None.
News Market Reaction – ENSG
On the day this news was published, ENSG gained 0.04%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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 the operations of City Park Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility located in Denver, Colorado. This acquisition was effective as of August 1, 2024 and is subject to a long-term, triple net lease.
“We are very excited to add to our recent growth in Colorado, a state in which we have established an outstanding clinical reputation over the last 15 years. This new team joins a strong cluster of outstanding operations and we expect great things in the future,” said Barry Port, Ensign's Chief Executive Officer.
Dave Jorgensen, President of Endura Healthcare LLC, Ensign’s Colorado-based subsidiary, added “We are thrilled to be working with this outstanding team of caregivers and hope to add new high quality services to the healthcare community.”
In separate transactions on the same day, Ensign announced that it acquired Greater Southside Health and Rehabilitation, an 76-bed skilled nursing facility located in Des Moines, Iowa and Holly Heights Care and Rehabilitation, a 133-bed skilled nursing facility located in Denver, Colorado and City Park Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility located in Denver, Colorado. Both of the new facilities will include real estate assets that 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.
