MISSION VIEJO, Calif., April 2, 2015 (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, assisted living and urgent care companies, announced today that it acquired Coral Desert Rehabilitation and Care, a 60-bed all-private/Medicare skilled nursing facility in St. George, Utah. The acquisition of the operation and the commencement of a new long-term lease were effective as of April 1, 2015.
"Coral Desert is a great fit for our portfolio and we expect it to be a flagship operation in the growing healthcare market in Southern Utah," said Christopher Christensen, Ensign's President and Chief Executive Officer. "This acquisition is a perfect example of the effectiveness of our locally-driven acquisition strategy," he added. Mr. Christensen emphasized that this new addition is the direct result of the efforts of a well-known and respected leadership team in Southern Utah who have been working tirelessly for many months to strengthen Ensign's presence in that market.
"We are proud to be joining a wonderful team of caregivers as we seek to reinforce and strengthen the caring, patient-centered environment they have created here," said Tyler Hoopes, President of Red Cliffs Healthcare, Inc., the Ensign subsidiary responsible for operations. He added that the residents, their families, and the healthcare community have embraced the news of Ensign's acquisition of this facility and are encouraged by Ensign's local reputation. Coral Desert Rehabilitation and Care had an occupancy rate of approximately 68% at acquisition and is expected to be mildly accretive to earnings in 2015.
Ensign also announced today that it acquired the underlying real estate of Panorama Gardens Nursing and Rehabilitation Center, a 149-bed skilled nursing facility in Panorama City, California, which has been operated by an Ensign subsidiary since September 2000 under a lease. The acquisition was effective as of April 1, 2015.
These acquisitions bring Ensign's growing portfolio to 144 healthcare facilities, nineteen of which are owned, eleven hospice agencies, thirteen home health agencies, two home care businesses and sixteen urgent care clinics across 12 states. Mr. Christensen reaffirmed that Ensign continues to see a very healthy pipeline for growth opportunities within its existing footprint and in new markets. He also indicated that the organization is actively seeking and negotiating several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses.
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 144 facilities, eleven hospice companies, thirteen home health businesses, two home care businesses and sixteen 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.