The Ensign Group, Inc. Acquires Four Skilled Nursing ...( MISSION VIEJO Calif. Oct. 29 /- T...),Health

MISSION VIEJO, Calif., Oct. 29 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign(TM) group of skilled nursing, rehabilitative care services and assisted living companies, announced today that it has purchased four skilled nursing facilities in Texas and California for an aggregate price of approximately $10.4 million.

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Previously leased facilities now owned

The properties were acquired on October 28, 2008 from a long-time Ensign landlord by four separate Ensign holding subsidiaries. Together the facilities include 426 licensed skilled nursing beds.

Ensign operating subsidiaries have been operating the three Texas facilities since 1999 and the California facility since 2001. The operating subsidiaries will continue to operate their facilities under new long-term leases with the acquiring entities. The prior lease agreements did not contain purchase options. Management expects the acquisitions to be immediately accretive to earnings.

"We are pleased to be able to fix our long-term occupancy costs and add to our portfolio of owned and financeable properties with this acquisition," said Christopher Christensen, Ensign's President and Chief Executive Officer. Mr. Christensen also expressed gratitude to the landlord, who "helped us get our start and has been a great supporter of Ensign from the beginning." Five additional Ensign facilities are operated under leases from affiliates of the same landlord.

Proceeds of Ensign's recent initial public offering were used to complete the transaction. Ensign affiliates
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