The Ensign Group Announces Another Acquisition in Colorado
SAN JUAN CAPISTRANO, Calif., Aug. 02, 2023 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that it acquired the real estate and operations of Rehabilitation and Nursing Center of the Rockies, a 96-bed skilled nursing facility located in Fort Collins, Colorado. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the acquisition was effective August 1, 2023.
“We are thrilled to be adding this operation to Colorado, a market where we have seen steady and positive growth over the past couple of years,” said Barry Port, Ensign's Chief Executive Officer. “This acquisition also provided another great opportunity to add to Standard Bearer’s growing portfolio,” he added.
Dave Jorgensen, President of Endura Healthcare, LLC, Ensign’s Colorado-based subsidiary, added “We have respected this facility from a distance for some time and are very excited to now be able to add our leadership and expertise to the caregivers at this operation. We look forward to working together with this new team to provide the excellent care to the residents and their families.”
In separate transactions on the same day, Ensign announced that it acquired the real estate and operations of Belmont Terrace, a 95-bed skilled nursing facility located in Bremerton, Washington and Puget Sound Transitional Care, a 125-bed skilled nursing facility located in Des Moines, Washington. The company also announced that it acquired the real estate of a post-acute care retirement campus known as Avamere Rehabilitation at Ridgemont and The Villas at Ridgemont, consisting of 96 licensed skilled nursing beds and 46 independent living units, located in Port Orchard, Washington, which will be operated by an affiliate of Avamere Group, LLC, subject to a long-term, triple net lease with Standard Bearer.
All of these acquisitions were also effective August 1, 2023 and brings Ensign's growing portfolio to 293 healthcare operations, 26 of which also include senior living operations, across thirteen states. Ensign subsidiaries, including Standard Bearer, now own 112 real estate assets.
Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.
About EnsignTM
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 293 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.
