Navigation Links
The Ensign Group Acquires Three Utah Skilled Nursing Facilities
Date:10/7/2009

SALT LAKE CITY, Oct. 7 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it has acquired three Utah skilled nursing facilities, South Valley Care Center in West Jordan, a suburb of Salt Lake City, Rock Canyon Rehab & Care Center in Provo, and Castle Country Care Center in Price. The acquisitions were effective October 1, 2009.

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

"These strategic acquisitions offer tremendous potential operating synergies for Ensign's existing operational base in Utah," said Derek Gasser of Ensign's Utah-based Milestone Healthcare subsidiary. He added that staff, resident and community response to Ensign's acquisition of the facilities has been overwhelmingly positive.

Mr. Gasser noted that the physical plants are in superior condition, and the locations provide an excellent fit with Ensign's existing operations in Utah. The Price facility, with 80 operating beds, is one of only two skilled nursing facilities within a 50-mile radius. The West Jordan facility, with 116 operating skilled nursing beds, and the Provo facility, with 200 operating skilled nursing beds, are both located directly across the street from large hospitals.

The three Utah facilities were acquired from a family that had operated them for many years. "We are pleased that the former owners would entrust their life's work to us, and we are committed to growing and enhancing what they've built," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added that Ensign expects the three facilities, which had a combined occupancy rate of approximately 48% at acquisition, to be operationally accretive to earnings starting in 2010. Ensign purchased the Utah facilities with a combination of cash and seller financing.

Ensign also acquired Golden Acres, a 22-acre skilled nursing and independent living campus in Dallas, Texas on October 1. The Golden Acres acquisition included a profitable and well-regarded hospice business, Custom Care Hospice. Although many Ensign facilities offer hospice services through third-party agencies, this is the first time Ensign has engaged in the hospice business itself.

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 Acquires Dallas Skilled Nursing Campus and Hospice Business
2. The Ensign Group, Inc. Declares Quarterly Dividend
3. The Ensign Group Reports Second Quarter 2009 Earnings of $0.39 per Share; Reaffirms 2009 EPS Guidance
4. The Ensign Group Announces Appointment of Healthcare Industry Leader to Board of Directors
5. The Ensign Group Declares Quarterly Dividend
6. The Ensign Group Announces the Retirement of CFO Alan J. Norman; Names Suzanne D. Snapper as New Chief Financial Officer
7. The Ensign Group to Present at the Eighth Annual JMP Securities Research Conference on May 19th
8. The Ensign Group Reports First Quarter 2009 Earnings of $0.38 per Share; Reaffirms 2009 Guidance
9. The Ensign Group Schedules First Quarter 2009 Earnings Call for Thursday, May 7, 2009
10. The Ensign Group Successfully Graduates Third Nursing Home From CMS Special Focus Program
11. The Ensign Group Declares Quarterly Dividend
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... NC (PRWEB) , ... June 26, 2016 , ... Brent Kasmer, a legally blind and ... to be personalized through a fitness app. The fitness app plans to fix the two ... currently only offer a one size fits all type program , They don’t ...
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs ... College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical dermatology. ... treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. ...
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... ... the United States, named Dr. Sesan Ogunleye, as the Medical Director of its new ... the facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, ...
(Date:6/25/2016)... , ... June 25, 2016 , ... On Friday, June ... a Bronze Wellness at Work award to iHire in recognition of their exemplary accomplishments ... of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events ... turn to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. ... tools for healthy coping following a traumatic event. , Trauma sufferers tend to feel ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016  MedSource announced ... as its e-clinical software solution of choice.  This ... best possible value to their clients by offering ... The preferred relationship establishes nowEDC as the EDC ... for MedSource,s full-service clients.  "nowEDC has long been ...
(Date:6/23/2016)... Research and Markets has announced the addition ... Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality (Filler, Binder, ... Forecast to 2021" report to their offering. ... excipients market is projected to reach USD 8.1 Billion ... forecast period 2016 to 2021. The ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Global MEMS Devices Medical Market Analysis 2016 - Forecast to ... The report contains up to date financial ... reliable analysis. Assessment of major trends with potential impact on ... dive analysis of market segmentation which comprises of sub markets, ...
Breaking Medicine Technology: