MISSION VIEJO, Calif., May 1, 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 the operations and real estate of Bainbridge Island Health and Rehabilitation, a 69-bed skilled nursing facility in Bainbridge Island, Washington. The acquisition was effective May 1, 2015.
"This acquisition adds to our presence in a market where we already have a strong, performing cluster," said Christopher Christensen, Ensign's President and Chief Executive Officer. "The combination of this operation with Ensign's existing skilled nursing, assisted living, urgent care and home health and hospice operations in the Greater Seattle area further strengthens Ensign's growing footprint in the state of Washington," he added.
"This Bainbridge team of caregivers has offered devoted service to patients and family members for many years and we look forward to working together as we strive to deliver top-notch care to this community," said Spencer Burton, President of Pennant, Ensign's Northwest-based portfolio subsidiary. He added that the community response to Pennant's acquisition of the facility has been overwhelmingly positive and that he expects the new operations, which had an occupancy rate of approximately 75% at acquisition, to be mildly accretive to earnings in 2015.
In a separate transaction on the same day, an Ensign subsidiary also acquired two skilled nursing facilities located in Utah: Wasatch Healthcare and Rehabilitation, a 63-bed skilled nursing facility in Ogden and St. George Rehabilitation, a 130-bed skilled nursing facility in St. George. The Utah purchases were effective May 1, 2015 and Ensign will retain ownership of the real estate for both facilities.
These acquisitions bring Ensign's growing portfolio to 150 healthcare facilities, twenty-five of which are owned, twelve hospice agencies, thirteen home health agencies, three 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™
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 150 facilities, twelve hospice companies, thirteen home health businesses, three 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.