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:8/22/2017)... ... , ... The Women’s Choice Award, a growing platform that gives a voice ... Choice Award. The identification by women of an effective new migraine relief product ... women. In a survey taken by the Women’s Choice Award organization, nine out of ...
(Date:8/22/2017)... (PRWEB) , ... August 22, 2017 , ... ... is pleased to announce the addition of Zack Tisch as the firm’s new ... the KLAS-ranked healthcare IT consulting firm’s national accounts, from assisting clients with initial ...
(Date:8/22/2017)... , ... August 22, 2017 , ... Nurses at ... at picturesque Babcock Cove, recently received training and certification in Closed Pulse Irrigation™ ... has a prestigious five-star rating from the Centers for Medicare and Medicaid Services, to ...
(Date:8/22/2017)... ... ... “Wilderness Voices”: a collection of poetry inspired by life on a Kentucky farm ... author, Martha McKown, an ordained United Methodist minister with graduate degrees in Religious Education ... older sisters studied High School literature. She loved the early English folk ballads, ...
(Date:8/22/2017)... ... August 22, 2017 , ... “Glimpses Of Light”: is ... world. “Glimpses Of Light” is the creation of published author, J.M. Shepherd, a writer, ... of answers to life’s perplexing mysteries. , Shepherd shares, “Love is one of the ...
Breaking Medicine News(10 mins):
(Date:7/31/2017)... , July 31, 2017 Three Tru-D SmartUVC ... South Korea . Tru-D, short for "Total Room Ultraviolet ... operating rooms after an environmental services (ES) professional cleans the area with ... ... "Although the BAACH ...
(Date:7/28/2017)... 2017 EnvoyHealth, a Diplomat company, has partnered with ... CleverCap LITE, a technology designed to improve patient medication ... health technology solutions and services that help track and ... CleverCap LITE offers medication monitoring and control for ... Records date and time ...
(Date:7/26/2017)... July 26, 2017 E.I. Medical Imaging (EIMI) ... Bimini SharkLab to custom design the worlds first ultrasound system to ... in their native habitat. In preparation for a piece produced ... Shark Week, Dr. Guttridge approached EIMI with the idea ... directly to hammerhead sharks underwater. ...
Breaking Medicine Technology: