MISSION VIEJO, Calif., Dec. 3, 2014 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care, home care, assisted living and urgent care companies, announced today that it completed its previously announced acquisition of nine skilled nursing and assisted living operations, a home health agency and a private home care business from Shea Family Care, the largest provider of a complete continuum of post-acute healthcare services in the San Diego market.
The acquisition was effective on December 1, 2014 and adds 643 skilled nursing beds and 68 assisted living beds across 9 operations, a Medicare and Medi-Cal certified home health agency and a private-pay home care business, all located in San Diego County, California.
"We are very pleased to have completed this significant transaction and we welcome a wonderful team of caregivers to the Ensign family," said Christopher Christensen, Ensign's President and Chief Executive Officer. "Our experienced teams of local leaders and caregivers in San Diego County are poised to help each of these operations advance the exceptional work that the Shea Family has been doing for generations," he added.
In a separate transaction on the same day, Ensign also announced the acquisition of Guardian Angel Hospice, a Medicare and Medi-Cal certified hospice agency located in San Diego. "This addition of hospice services in the San Diego market allows us to serve the full continuum of post-acute care needs of San Diegans, whether that care takes place in our facilities or their homes," added Mr. Christensen. "Providing this full range of services," Christensen continued, "gives us a unique opportunity to improve outcomes and reduce rehospitalization rates for those patients who entrust us with their care."
The businesses were purchased with cash and will be operated by Ensign's California-based subsidiaries. Mr. Christensen indicated that he expects these operations to be operationally accretive to earnings in 2015.
These acquisitions bring Ensign's growing portfolio to 136 healthcare facilities (nine of which are owned), ten hospice companies, twelve home health agencies, two home care businesses and fourteen urgent care clinics across 12 states. Ensign purchased and retained the real estate in two of the nine facilities and assumed long-term leases on the remaining operations, one of which includes an option to purchase the real estate.
Mr. Christensen reiterated that Ensign's pipeline for future growth remains strong and that Ensign is actively seeking and negotiating additional opportunities to acquire real estate or to lease well-performing and struggling skilled nursing, assisted living and other healthcare related businesses across the United States.
About Ensign(TM)
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, urgent care services and other rehabilitative and healthcare services at 136 operations, ten hospice agencies, twelve home health agencies, two home care businesses and fourteen urgent care clinics in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.