MISSION VIEJO, Calif., May 27 /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 completed the purchase of an 83-bed skilled nursing facility in Draper, Utah for approximately $3.0 million.
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Previously leased facility now owned
The facility was acquired from an affiliate of Oregon-based Westcare Management, Inc. The deal was struck in mid-2007, but closing was delayed while title issues on the real estate were resolved. An Ensign operating subsidiary has been operating the facility under a short-term lease since July 2007, pending the real estate closing. The operating subsidiary will continue to operate the facility under a new long-term lease with the acquiring entity.
"Draper Rehabilitation and Care Center is an anchor facility for Ensign in the vital Utah healthcare community," said Christopher Christensen, Ensign's President and Chief Executive Officer. Mr. Christensen described the facility as well-regarded in the community and praised the prior operators for running a caring, quality healthcare program, adding, "We are pleased to be able to build on the great work they've done."
Westcare is a major provider of residential care services for the
developmentally disabled in Idaho. Van Moore, Senior Vice President of
Westcare, explained his company's decision to sell the facility -- its only
skilled nursing facility in Utah -- to Ensign. "It was a business
decision," Mr. Moore said, "but we wo
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| SOURCE The Ensign Group, Inc. Copyright©2008 PR Newswire. All rights reserved |