SAN JUAN CAPISTRANO, California, June 02, 2021 (GLOBE NEWSWIRE) – The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of EnsignMT group of companies, which invests in and provides nursing and living services for the elderly, physical, occupational and speech therapy, and other rehabilitation and health care services, today announced that as of June 1, 2021, it acquired the operations of the following skilled nursing facilities in Washington:
- Mira Vista Health Center, a 94-bed skilled nursing facility located in Mount Vernon, WA;
- Coastal health and rehabilitation, a 114-bed skilled nursing facility located in Shoreline, WA;
- Oaks at Lakewood, an 80 bed skilled nursing facility located in Lakewood, WA; and
- Oaks at Timberline, a 98-bed specialty nursing facility located in Vancouver, WA.
The real estate for each of these transactions is owned by CareTrust REIT, Inc. (Nasdaq: CTRE) and each transaction will be added to an existing triple-net long-term head lease, which is currently in place between the subsidiaries of Ensign and CareTrust. . .
âWe have been expanding in Washington State for several years and are very pleased to add these particular operations to our portfolio due to their cultural and geographic fit,â said Barry Port, CEO of Ensign. âWe are also delighted to extend our continuing and growing relationship with CareTrust and are pleased to announce that, as part of this transaction, CareTrust has extended the lease term of the first pool of expiring master leases by ten years. We are grateful for the strengthening of our long-standing partnership with CareTrust and look forward to many more years of working together on these opportunities and the future, âhe added.
Tyler Hoopes, President of Pennant Healthcare, Inc., a Washington-based subsidiary of Ensign, added, âWe are delighted to have such a dedicated and experienced team associated with our existing operations and clinical leaders in Washington, and we are confident that they are ready to accomplish great things together.
âWe would like to congratulate the Ensign team on adding these facilities to their impressive and growing portfolio of healthcare operations,â said David Sedgwick, President and COO of CareTrust. âThis acquisition presented the perfect opportunity to both extend and extend CareTrust’s deeply rooted relationship with Ensign and we look forward to future growth opportunities together,â he added.
The acquisition brings Ensign’s growing portfolio to 240 healthcare facilities, 22 of which also include senior living facilities, in thirteen states. Ensign owns 95 real estate assets. Mr Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and lease both skilled, high performing and distressed nursing, senior citizen residences and other healthcare related businesses in across the United States.
About the brandMT
The independent operating subsidiaries of Ensign Group, Inc. provide a wide range of nursing and residential care services for the elderly, physical, occupational and speech therapy, and other health and rehabilitation services in 240 health 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.
About CareTrust â¢
CareTrust REIT, Inc. is a publicly traded, self-directed real estate investment trust engaged in the ownership, acquisition, development and rental of skilled nursing, senior housing and other healthcare related properties . With a nationwide portfolio of net long-term leased properties and a growing portfolio of quality operators leasing them, CareTrust REIT pursues external and organic growth opportunities across the United States. More information on CareTrust REIT is available at www.caretrustreit.com.
The Ensign Group, Inc., (949) 487-9500, firstname.lastname@example.org
SOURCE: The Ensign Group, Inc.