SAN JUAN CAPISTRANO, Calif., July 06 Feb. 2022 (GLOBE NEWSWIRE) — The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignMT group of companies, which invests in and provides skilled nursing and aged care services, physical, occupational and speech therapy, other rehabilitation and healthcare services and real estate, announced today today that he had acquired the operations of the following skilled nursing facilities in Texas:
- The Eden of Las Colinasa 118-bed skilled nursing facility, located in Irving, Texas;
- Pleasant Valley Health Care and Rehabilitation Centera 124-bed skilled nursing facility located in Garland, Texas;
- Millbrook Health Care and Rehabilitation Center, a 124-bed skilled nursing facility in Lancaster, Texas;
- McKinney Health Care and Rehabilitation Center, a 125-bed skilled nursing facility in McKinney, Texas; and
- Park Mansion Bee Cavea 140-bed skilled nursing facility in Bee Cave, Texas.
The acquisitions became effective July 1, 2022. The acquisition of The Eden of Las Colinas also includes the property’s real estate, which was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., the captive real estate company of ‘Ensign. The four other acquisitions will be subject to a long-term triple net lease.
“These acquisitions are a perfect fit and will serve to strengthen our existing operating markets and clusters in Texas,” said Barry Port, CEO of Ensign. “Our leaders are ready to improve the level of care provided to residents and their families,” he added.
“We look forward to working with the local healthcare communities at each of these facilities, home to an exceptional team of caregivers,” added Mike Muhlestein, an operational market leader at Keystone Care LLC, the holding subsidiary of ‘Ensign based in Texas.
In separate transactions the same day, Ensign announced that Standard Bearer had also acquired a new campus comprising real estate and three assets in California, including the following:
- real estate and operations Villa Maria Post acute and rehabilitationa 65-bed specialist nursing facility, Villa Maria Wellness Livinga service residence with 31 beds and Recovery from Tucson to Villa Maria, a 30-bed behavioral health unit, each located in Tucson, Arizona; and
- the real estate of Palm Springs First Care Center, a 99-bed skilled nursing facility located in Palm Springs, California, Brookside Health Center, a 97-bed skilled nursing facility located in Redlands, California, and Broadway Villa Post Acute, a 138-bed skilled nursing facility located in Sonoma, California, each operated by an independent operating subsidiary of Ensign.
In addition, on the same day, Ensign announced that its subsidiary had entered into a new long-term lease for Henderson Health and Rehabilitationa skilled nursing facility with 266 skilled nursing beds, located in Henderson, Nevada.
All of these acquisitions also became effective July 1, 2022, and bring Ensign’s growing portfolio to 258 healthcare operations, 26 of which also include senior living operations, across thirteen states. Ensign subsidiaries, including Standard Bearer, now own 105 real estate assets.
Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and lease both skilled nursing, senior living facilities and other successful and struggling healthcare-related businesses across United States.
About the brandMT
Independent operating subsidiaries of Ensign Group, Inc. provide a wide range of skilled nursing and senior living services, physical therapy, occupational therapy and speech therapy and other rehabilitation and care services across 258 healthcare facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Texas, Utah, Washington and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.
Contact information
The Ensign Group, Inc., (949) 487-9500, ir@ensigngroup.net
SOURCE: The Ensign Group, Inc.