The Ensign Group Expands into Colorado ( DENVER Feb. 3 /- The Ensign Group Inc...)

The Ensign Group Expands into Colorado

Date:2/3/2009

DENVER, Feb. 3 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it has expanded into Colorado by acquiring four long-term care facilities in the Denver metropolitan area. The facilities include Littleton Manor, a 35-bed skilled nursing facility in Littleton, Arvada Nursing Center, a 54-bed skilled nursing facility in Arvada, Julia Temple Center, a 128-bed skilled nursing facility in Englewood, and Chateau des Mons, a 48-bed assisted living facility in Englewood. The transfer was effective February 1, 2009.

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"We are excited to extend our growing footprint into Colorado, and look forward to being a solid contributor to the Denver area's vibrant healthcare community," said Christopher Christensen, Ensign's President and Chief Executive Officer. Noting that all four facilities have outstanding clinical histories, stable long-term staffs and excellent reputations in their communities, he called them "the perfect platform for establishing Ensign's presence" in Colorado.

Ensign expects the newly-acquired facilities, which had a combined occupancy rate of approximately 86% at acquisition, to be accretive to earnings in 2009.

Ensign purchased the facilities from a not-for-profit corporation which had owned and operated them since 1990. Even though it was not the high bidder, Ensign was selected because its patient-centered operating philosophy most closely matched the seller's, according to a spokesman for the seller. "We are pleased that the former owner would entrust its legacy of excellence to us, and we expect to grow and enhance that legacy," said Mr. Christensen.

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SOURCE The Ensign Group, Inc.
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The Ensign Group Expands into Colorado( DENVER Feb. 3 /- The Ensign Group Inc...),Health