The Ensign Group Acquires Skilled Nursing Facility in Tennessee
02 Janvier 2024 - 12:00PM
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 operations
of TriState Health and Rehabilitation Center, a 116-bed
skilled nursing facility located in Harrogate, Tennessee. This
acquisition was effective January 1, 2024 and is subject to a
long-term, triple net lease.
“This acquisition is a significant milestone for
our organization, as this is our first skilled nursing facility in
Tennessee,” said Barry Port, Ensign's Chief Executive Officer. “We
have been carefully reviewing opportunities for years in and around
Tennessee and this opportunity was a great fit. We could not be
more excited and believe we have the leadership in place for a
successful transition into a new state,” he added.
“We are excited to welcome this devoted team of
caregivers into the Ensign family and to deliver excellent care to
the residents we are honored to serve,” said Tyler Albrechtsen,
President of Rocky Top Healthcare LLC, Ensign’s Tennessee-based
subsidiary. “We have been very impressed with the team at this
operation, and we look forward to providing additional resources to
support them,” he added.
In a separate transaction on the same day,
Ensign announced that its affiliate acquired the operations of
Hearthstone Health and Rehabilitation, a 125-bed skilled nursing
facility located in Sparks, Nevada.
These acquisitions bring Ensign's growing
portfolio to 299 healthcare operations, 27 of which also include
senior living operations, across fourteen states. Ensign
subsidiaries, including Standard Bearer, own 113 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 299 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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