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:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set of ... or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, Serenity ... event. , Trauma sufferers tend to feel a range of emotions, from depression, guilt, ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. are sharpening ... Talker Award, an essay contest in which patients and their families pay tribute to ... at the 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this ...
(Date:6/24/2016)... ... 2016 , ... Strategic Capital Partners, LLC (SCP) in concert ... capital for emerging technology companies. SCP has delivered investment events and professional ... than a million dollars of capital investment for five companies. The ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... supporting the upcoming 2016 Miss Arizona pageant as its official Medspa Sponsor. Dr. ... Tempe, Mesa, and Chandler, Arizona. , Dr. Olson says the decision to ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 2016 Research and Markets has announced ... Analysis 2016 - Forecast to 2022" report to their ... contains up to date financial data derived from varied research ... trends with potential impact on the market during the next ... which comprises of sub markets, regional and country level analysis. ...
(Date:6/23/2016)... , June 23, 2016 Bracket , ... launch its next generation clinical outcomes platform, Bracket eCOA (SM) ... held on June 26 – 30, 2016 in ... first electronic Clinical Outcome Assessment product of its kind to ... #715. Bracket eCOA 6.0 is a flexible platform ...
(Date:6/23/2016)... NORTHBROOK, Ill. and BOGOTA, Colombia , June 23, 2016  Astellas today announced the ... joins Astellas Farma Brasil as the company,s second affiliate in Latin America . ... ... appointed General Manager of Astellas Farma Colombia ... ...
Breaking Medicine Technology: