Navigation Links
The Ensign Group, Inc. Acquires Four Skilled Nursing Facilities
Date:10/28/2008

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.

(Logo: http://www.newscom.com/cgi-bin/prnh/20071213/LATH168LOGO)

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 currently operate 62 facilities in six Western states. This acquisition brings the total number of owned facilities in Ensign's combined portfolio to 32, with Ensign affiliates holding purchase options on eight of Ensign's 30 leased facilities.

The four facilities are Northern Oaks Living & Rehabilitation Center, a 96-bed skilled nursing facility in Abilene, Texas, Wellington Place Living & Rehabilitation Center, a 140-bed skilled nursing facility in Temple, Texas, Salado Creek Living & Rehabilitation Center, a 120-bed skilled nursing facility in San Antonio, Texas, and Northbrook Nursing & Rehabilitation Center, a 70-bed skilled nursing facility in Willits, California.

About Ensign(TM)

The Ensign Group, Inc.'s operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, and other rehabilitative and healthcare services for both long-term residents and short-stay rehabilitation patients at 62 facilities in California, Arizona, Texas, Washington, Utah and Idaho. Each facility is operated by a separate, wholly-owned independent operating subsidiary that has its own management, employees and assets. References herein to the consolidated "Company" and "its" assets and activities, as well as the use of the terms "we," "us," "our" and similar verbiage are not meant to imply that The Ensign Group, Inc. has direct operating assets, employees or revenue, or that any of the facilities, the Service Center or the captive insurance subsidiary are operated by the same entity. More information about Ensign is available at http://www.ensigngroup.net.


'/>"/>
SOURCE Ensign Group, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. The Ensign Group Schedules 2008 Third Quarter Earnings Call for Friday, October 31, 2008
2. The Ensign Group, Inc. Reports Second Quarter 2008 Earnings of $.32 per Diluted Share and Raises 2008 Guidance
3. The Ensign Group Schedules 2008 Second Quarter Earnings Call for Thursday, August 7, 2008
4. The Ensign Group to Present at the FBR Capital Markets 12th Annual Spring Investor Conference on May 29th
5. The Ensign Group, Inc. Acquires Utah Skilled Nursing Facility
6. The Ensign Group, Inc. Reports First Quarter 2008 Earnings
7. The Ensign Group Schedules 2008 First Quarter Earnings Call for Thursday, May 8, 2008
8. The Ensign Group, Inc. Reports Fourth Quarter 2007 Earnings
9. The Ensign Groups Year-End Conference Call Scheduled for Friday, March 7, 2008
10. The Ensign Group Establishes $50 Million Credit Facility with GE Healthcare Financial Services
11. The Ensign Group Successfully Graduates Troubled Nursing Home from CMS Special Focus Facility Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... ... March 23, 2017 , ... Michael Lanteri Agency, an ... Fort Collins area, has unveiled a collaboration with nonprofit Big Bones Canine Rescue ... this worthy cause may now be made at http://bigbonescaninerescue.com/ . , Big ...
(Date:3/23/2017)... ... March 23, 2017 , ... Altec Products, Inc. ... Group as their 2016 Microsoft Dynamics Partner of the Year at DocLink ... The award recognizes The Resource Group for their outstanding relationship with Altec and ...
(Date:3/23/2017)... ... , ... Sharon Kleyne, host of the nationally syndicated radio program, The Sharon ... talked on her program about how she is looking forward to World Water Day ... important distinction. World Water Day, Kleyne pointed out, is an occasion for looking ahead ...
(Date:3/23/2017)... Kennett Square, PA (PRWEB) , ... March 23, 2017 , ... ... sunny days. That means many students are thinking about summer internships , which ... (or lack thereof). , The pros at Garden Media Group, a boutique public relations ...
(Date:3/23/2017)... ... March 23, 2017 , ... The American Board of Quality Assurance ... Anniversary of ABQAURP’s dedication to Health Care Quality and Management and Patient Safety. , ... only to the association, but also to the Health Care Quality and Patient Safety ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... 23, 2017 Executive ... through extensive primary research (inputs from industry experts, ... to present the analysis of global heart valve ... and Repair); Replacement Procedure By Technique (Mechanical, Bioprosthetic, ... (Surgical Devices, Balloon Valvuloplasty, Transcatheter Mitral Valve Repair ...
(Date:3/23/2017)... , March 23, 2017  The U.S. Food ... (avelumab) for the treatment of adults and pediatric patients ... (MCC), including those who have not received prior chemotherapy. ... a rare, aggressive form of skin cancer. ... cancers, patients with a rare form called Merkel cell ...
(Date:3/23/2017)... VANCOUVER, British Columbia , March 23, ... ) (the "Company" or "Sophiris"), a clinical late-stage biopharmaceutical ... diseases, today announced that data from its successful Phase ... a focal treatment for localized prostate cancer, will be ... the 32 nd Annual European Association of Urology ...
Breaking Medicine Technology: