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.
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.
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|SOURCE The Ensign Group, Inc.|
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