Navigation Links
The Ensign Group Acquires Dallas Skilled Nursing Campus and Hospice Business
Date:10/7/2009

DALLAS, Oct. 7 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it has acquired Golden Acres, an operating skilled nursing and independent living campus, as well as a separate hospice business, both in Dallas, Texas. The acquisition was effective October 1, 2009.

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

"These strategic acquisitions strengthen Ensign's existing operational base and broaden our service offerings in the pivotal Dallas market," said Barry Port, President and Chief Executive Officer of Ensign's Texas-based Keystone Care subsidiary.

Golden Acres, situated on a sprawling 22-acre campus, was originally built by a non-profit religious foundation. In addition to its 264 skilled nursing beds, 222 of which are in private rooms, the campus includes a 39-unit independent living section which is frequently 100% full with a waiting list.

The Golden Acres acquisition also included a well-regarded hospice business, which has been renamed Custom Care Hospice. Custom Care provides palliative care and related hospice services, and can potentially be expanded into neighboring areas. Although many Ensign facilities offer hospice services through third-party agencies, this is the first time Ensign has engaged in the hospice business itself.

"We are excited about this hospice business, and believe it will provide an excellent platform for Ensign's further growth into an important service area for many of our patients and their families," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added that Ensign expects the Dallas facility, which had a skilled nursing occupancy rate at acquisition of approximately 90% and an independent living census of 97%, to be accretive to earnings in 2009. Ensign paid cash for the Texas facility.

Ensign also acquired three facilities in Utah on October 1. The Utah facilities include Castle Country Care Center, an 80-bed skilled nursing facility in Price, South Valley Care Center, a 116-bed skilled nursing facility in metropolitan Salt Lake City, and Rock Canyon Rehab & Care Center, a 200-bed skilled nursing facility in Provo. The Utah facilities were purchased with a combination of cash and seller financing.

Ensign also allowed the lease on one of its Arizona assisted living facilities to expire, turning the operation over to a new tenant effective October 1, 2009. An Ensign affiliate had operated Greenfields Assisted Living in Mesa, Arizona since 1999. The lease expiration at Greenfields leaves Ensign with two assisted living facilities in the Phoenix metropolitan area, and will be slightly accretive.

Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling long-term care operations across the Western United States. The four acquisitions and one lease expiration bring Ensign's growing portfolio to 73 facilities, 42 of which are Ensign-owned. Ensign affiliates hold purchase options on nine of the 31 leased facilities.

About Ensign(TM)

The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, hospice services, and other rehabilitative and healthcare services for both long-term residents and short-stay rehabilitation patients at 73 facilities in California, Arizona, Texas, Washington, Utah, Idaho and Colorado. More information about Ensign is available at http://www.ensigngroup.net.

SOURCE The Ensign Group, Inc.


'/>"/>
SOURCE The Ensign Group, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. The Ensign Group, Inc. Declares Quarterly Dividend
2. The Ensign Group Reports Second Quarter 2009 Earnings of $0.39 per Share; Reaffirms 2009 EPS Guidance
3. The Ensign Group Announces Appointment of Healthcare Industry Leader to Board of Directors
4. The Ensign Group Declares Quarterly Dividend
5. The Ensign Group Announces the Retirement of CFO Alan J. Norman; Names Suzanne D. Snapper as New Chief Financial Officer
6. The Ensign Group to Present at the Eighth Annual JMP Securities Research Conference on May 19th
7. The Ensign Group Reports First Quarter 2009 Earnings of $0.38 per Share; Reaffirms 2009 Guidance
8. The Ensign Group Schedules First Quarter 2009 Earnings Call for Thursday, May 7, 2009
9. The Ensign Group Successfully Graduates Third Nursing Home From CMS Special Focus Program
10. The Ensign Group Declares Quarterly Dividend
11. The Ensign Group, Inc. Reports Fourth Quarter 2008 Earnings of $0.38 per Share; Issues 2009 Guidance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... TherapySites, ... today its affiliation with Tennessee Counseling Association. This new relationship allows ... the Tennessee Counseling Association, adding exclusive benefits and promotional offers. , "TCA is ...
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer care, ... remain in the eye of the beholder, according to experts who offered insights and ... Journal of Managed Care. For the full issue, click here . , For ...
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified ... be personalized through a fitness app. The fitness app plans to fix the two major ... only offer a one size fits all type program , They don’t eliminate ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library ... City Observer , brings up a new, often overlooked aspect of head lice: the parasite’s ... for fumigation is not a common occurrence, but a necessary one in the event that ...
(Date:6/25/2016)... ... 25, 2016 , ... Dr. Calvin Johnson has dedicated his ... implemented orthobiologic procedures as a method for treating his patients. The procedure is ... to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use to help ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... "The World Market for Companion Diagnostic Tests" report to ... World Market for Companion Diagnostics The World ... diagnostic and personalized medicine diagnostics. Market analysis in the report ... Diagnostics Test Market (In Vitro Diagnostic Kits) by Region (N. ...
(Date:6/24/2016)... , June 24, 2016  Arkis BioSciences, a ... invasive and more durable cerebrospinal fluid treatments, today ... The Series-A funding is led by Innova Memphis, ... and other private investors.  Arkis, new financing will ... and the market release of its in-licensed Endexo® ...
(Date:6/23/2016)... -- Research and Markets has announced the ... (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality (Filler, ... Global Forecast to 2021" report to their offering. ... pharmaceutical excipients market is projected to reach USD 8.1 ... the forecast period 2016 to 2021. ...
Breaking Medicine Technology: