uired four long-term care facilities in two separate transactions on October 1, 2009. The facilities include Golden Acres, a 22-acre campus in Dallas, Texas which has 264 skilled nursing beds, 222 of which are in private rooms, and a 39-unit independent living section. The Golden Acres acquisition also 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 acquired three facilities in Utah: Castle Country Care Center, an 80-bed skilled nursing facility in Price, South Valley Care Center, a 116-bed skilled nursing facility in metropolitan Salt Lake City, and Rock Canyon Rehab & Care Center, a 200-bed skilled nursing facility in Provo. The Utah facilities were purchased with a combination of cash and seller financing.
Ensign also allowed the lease on one of its Arizona assisted living facilities to expire as of September 30, 2009, turning the operation over to a new tenant. An Ensign affiliate had operated Greenfields Assisted Living in Mesa, Arizona since 1999. Management has indicated that it expects the lease expiration to be slightly accretive going forward.
Management has 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, with Ensign affiliates holding purchase options on nine of Ensign's 31 leased facilities.
A live webcast will be held on Tuesday, November 3, 2009, at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) to discuss Ensign's third quarter financial results. To listen to the webcast, or to view any financial or statistical
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|SOURCE The Ensign Group, Inc.|
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. The Ensign Group to Present at Oppenheimer 20th Annual Healthcare Conference2
. The Ensign Group Schedules Third Quarter 2009 Earnings Call for Tuesday, November 3, 20093
. The Ensign Group Acquires Three Utah Skilled Nursing Facilities4
. The Ensign Group Acquires Dallas Skilled Nursing Campus and Hospice Business5
. The Ensign Group, Inc. Declares Quarterly Dividend6
. The Ensign Group Reports Second Quarter 2009 Earnings of $0.39 per Share; Reaffirms 2009 EPS Guidance7
. The Ensign Group Announces Appointment of Healthcare Industry Leader to Board of Directors8
. The Ensign Group Declares Quarterly Dividend9
. The Ensign Group Announces the Retirement of CFO Alan J. Norman; Names Suzanne D. Snapper as New Chief Financial Officer10
. The Ensign Group to Present at the Eighth Annual JMP Securities Research Conference on May 19th11
. The Ensign Group Reports First Quarter 2009 Earnings of $0.38 per Share; Reaffirms 2009 Guidance