The Ensign Group Acquires Three Assets in Washington
02 Août 2023 - 12:00PM
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 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 today 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. In
each case above, the real estate was acquired by a subsidiary of
Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate
company, and the acquisitions and the corresponding leases were
effective August 1, 2023.
“We are extremely excited to add these
operations and real estate to our growing presence in Washington,”
said Barry Port, Ensign's Chief Executive Officer. “This
transaction is a perfect example of the type of transaction that
our internal REIT allows us to close, simultaneously adding
operations that are a good strategical fit while also growing to
our real estate portfolio through leases with other high-quality
operators. We are very excited about this deal and doing many more
like them in the future,” he added.
Stephen Farnsworth, President of Pennant
Healthcare, LLC, Ensign’s Washington-based subsidiary, added “We
are honored to join the outstanding team of caregivers at these
operations. We have solid leadership in place and look forward to
providing quality care to the residents and their families we are
fortunate to serve. We also look forward to our new relationship
with Avamere. We have known them for many years and have a great
deal of respect for them as one of the most well-known operators in
the Pacific Northwest.”
In a separate transaction on the same day,
Ensign announced that Standard Bearer also 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. This acquisition was 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.
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