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.
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.|
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