Navigation Links
The Ensign Group Acquires Three Texas Skilled Nursing Facilities
Date:12/3/2009

McALLEN, Texas, Dec. 3 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it has acquired three Texas skilled nursing facilities: the 93-bed Grand Terrace Rehabilitation & Healthcare Center in McAllen, the 100-bed Alta Vista Rehabilitation & Healthcare in Brownsville; and the 95-bed Veranda Rehabilitation & Healthcare in Harlingen. The acquisitions were effective December 1, 2009.

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

"These facilities will offer tremendous potential operating synergies as we broaden their current offerings to include higher-acuity services," said Barry Port, President of Ensign's Texas-based Keystone Care subsidiary. He specifically referenced plans to enhance physical, occupational and speech therapy services, as well as to add IV therapy and other services not currently offered in the facilities, over time. He noted that while the former operator had been very good and will be missed, the staff, resident and community response to the new management has been positive.

The three facilities were acquired from The Evangelical Lutheran Good Samaritan Society, the country's largest non-profit provider of senior care and services. Commenting on the sale, the Society's Mark Dickerson said, "The Evangelical Lutheran Good Samaritan Society has been honored to serve the seniors of the Rio Grande Valley for many years. Our prayers and best wishes are with The Ensign Group as they continue our tradition of serving the residents of the Brownsville, Harlingen and McAllen areas."

Mr. Port noted that the three locations provide an excellent fit with Ensign's existing operations in South Texas. All three join Ensign's well-regarded Village Healthcare & Rehabilitation Center in McAllen, which has been serving the Rio Grande Valley since 1969, and has been operated by an Ensign affiliate since 1999.

Christopher Christensen, Ensign's President and Chief Executive Officer, added, "The Valley has been a tremendous part of Ensign's success story, and we couldn't be more pleased to be expanding our service offerings here." He noted that Ensign expects the three facilities, which had a combined occupancy rate of approximately 64% at acquisition, to be operationally accretive to earnings starting in 2010. Ensign purchased the Texas facilities with cash.

Ensign also acquired SunView Care Center, a 127-bed skilled nursing facility in Youngtown, Arizona, a sister community adjacent to Arizona's Sun City retirement community, on December 1st. The Arizona facility was purchased with cash.

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 bring Ensign's growing portfolio to 77 facilities, 46 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 77 facilities in California, Arizona, Texas, Washington, Utah, Idaho and Colorado. More information about Ensign is available at http://www.ensigngroup.net.

About The Evangelical Lutheran Good Samaritan Society

The Evangelical Lutheran Good Samaritan Society, based in Sioux Falls, S.D., is the nation's largest not-for-profit provider of senior care and services, with more than 240 communities in 24 states. The Society's Christian mission is to share God's love in word and deed by providing shelter and supportive services to older persons and others in need, believing that "In Christ's Love, Everyone Is Someone."

SOURCE The Ensign Group, Inc.


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

Related medicine news :

1. The Ensign Group Secures $40 Million Loan From GE Capital, Healthcare Financial Services
2. The Ensign Group Reports Third Quarter 2009 Adjusted Earnings of $0.38 per Share
3. The Ensign Group to Present at Oppenheimer 20th Annual Healthcare Conference
4. The Ensign Group Schedules Third Quarter 2009 Earnings Call for Tuesday, November 3, 2009
5. The Ensign Group Acquires Three Utah Skilled Nursing Facilities
6. The Ensign Group Acquires Dallas Skilled Nursing Campus and Hospice Business
7. The Ensign Group, Inc. Declares Quarterly Dividend
8. The Ensign Group Reports Second Quarter 2009 Earnings of $0.39 per Share; Reaffirms 2009 EPS Guidance
9. The Ensign Group Announces Appointment of Healthcare Industry Leader to Board of Directors
10. The Ensign Group Declares Quarterly Dividend
11. The Ensign Group Announces the Retirement of CFO Alan J. Norman; Names Suzanne D. Snapper as New Chief Financial Officer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/26/2017)... ... February 26, 2017 , ... ... to the 7th Edition of International Social Design Awards. , The 7th ... Designers, System Designers, Governments and Institutions worldwide with realized projects and conceptual works. ...
(Date:2/26/2017)... (PRWEB) , ... February 26, 2017 , ... NuevaCare, a ... as diverse as Millbrae, Belmont, and Palo Alto, is proud to announce an important ... Bay Area consumers look for home care close to home, and by having city-specific ...
(Date:2/26/2017)... , ... February 26, 2017 , ... IndustryArchive.Org . ... with Pay-For-Performance B2B Marketing. B2B Sellers will now only pay for B.A.N.T. quality sales ... the founder of IndustryArchive.Org, said, “Given the new reality that B2B buyers are controlling ...
(Date:2/26/2017)... ... ... ODH, Inc.™ announced today it will exhibit and speak at the 10th ... Arlington, VA. ODH’s director of medical strategy, Candace Saldarini, M.D., will present on how ... management. , ODH will also have an exhibit booth where attendees may speak to ...
(Date:2/26/2017)... ... February 26, 2017 , ... Occupational pesticide exposure ... a specific LRRK2 mutation, according to a study released today at the 1st ... of a link between pesticides and incidence of sporadic PD through occupational exposure. ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... le 24 février 2017 ITL Limited, ( ASX : ITD ... est ravie d,annoncer les excellents résultats semestriels clos le ... correspondante. Une présentation complète « Résultats et mise à jour ... ici . Faits marquants ... 2015 : 1,04 million $ ; en hausse de 104 %) ...
(Date:2/24/2017)... -- This report analyzes the worldwide markets for Chiral Technology ... Products: Intermediates, Analytical, and Others. The End Use markets ... The report provides separate comprehensive analytics for the US, ... , and Rest of World. Annual estimates and forecasts ... a six-year historic analysis is provided for these markets. ...
(Date:2/24/2017)... 2017  The particle counters market is projected ... USD 275.9 million in 2016, at a CAGR ... http://www.reportlinker.com/p04718602-summary/view-report.html The growing pharmaceutical ... and growth in manufacturing industries in emerging nations ... particle counters. On the other hand, technical limitations ...
Breaking Medicine Technology: