The Ensign Group Acquires Skilled Nursing Facility in Iowa
01 May 2024 - 8:00PM
The Ensign Group, Inc. (Nasdaq: ENSG), the parent company
of the Ensign™ 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 Spencer Post Acute Rehabilitation Center, an
82-bed skilled nursing facility located in Spencer, Iowa. The real
estate was acquired by a subsidiary of Standard Bearer Healthcare
REIT, Inc., Ensign’s captive real estate company, and the
acquisition is effective as of May 1, 2024.
“We are thrilled to be growing in Iowa again,
after many years of focused leadership and preparing for additional
growth,” said Barry Port, Ensign's Chief Executive Officer. “This
acquisition also provided another great opportunity to add to
Standard Bearer’s growing portfolio in a great location,” he
added.
Dave Jorgensen, President of Gateway Healthcare,
Inc., Ensign’s Iowa-based subsidiary, added “This operation is well
situated to become the operation-of-choice in the market. We are
excited to work together with our healthcare partners as we strive
to provide top-notch care for our patients and their families.”
In separate transactions on the same day, Ensign
announced that it acquired seven other operations, four of which
included real estate assets that were acquired by Standard Bearer.
Each of these new facilities will be operated by an Ensign
affiliated operator, including the following:
-
River Park Post Acute and Elmwood Senior Living, a healthcare
campus with 66 skilled nursing beds, 45 assisted living units and
119 independent living units located in Chandler, Arizona;
-
Hillside Village of De Soto Rehabilitation and Nursing Center, a
facility with 49 skilled nursing beds and 38 assisted living units,
located in De Soto, Kansas;
-
South Davis Specialty Care a 95-bed skilled nursing operation,
located in Bountiful, Utah; and
-
Western Peaks Specialty Hospital, a 43-bed long-term acute care
hospital (LTACH) located in Bountiful, Utah.
Also, on the same day, Ensign announced that its
affiliates acquired the following operations, which will be subject
to long-term, triple net leases:
-
Creekview Health and Rehabilitation, a 78-bed skilled nursing
facility located in Knoxville, Tennessee;
-
Foothills Transitional Care and Rehabilitation, a 135-bed skilled
nursing facility located in Maryville, Tennessee; and
-
Midlothian Healthcare Center, a 120-bed skilled nursing facility
located in Midlothian, Texas.
All of these acquisitions are effective as of
May 1, 2024 and bring Ensign's growing portfolio to 310 healthcare
operations, 29 of which also include senior living operations,
across fourteen states. Ensign subsidiaries, including Standard
Bearer, own 119 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 Ensign™
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 310 healthcare
facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas,
Nebraska, Nevada, South Carolina, Tennessee, 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.
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