The Ensign Group Acquires Skilled Nursing Facility in Iowa
SAN JUAN CAPISTRANO, Calif., Aug. 02, 2024 (GLOBE NEWSWIRE) — 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 Greater Southside Health and Rehabilitation, an 76-bed skilled nursing facility located in Des Moines, Iowa. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the acquisition is effective as of August 1, 2024.
“We are thrilled to add this operation and excited to continue our recent growth in Iowa,” said Barry Port, Ensign’s Chief Executive Officer. “This acquisition also provided another great opportunity to add to Standard Bearer’s growing portfolio in the Midwest,” he added.
Dave Jorgensen, President of Gateway Healthcare LLC, Ensign’s Iowa-based subsidiary, added, “This operation is well situated in Des Moines to become one of the leading operations in the area. We are excited to work together with our new team as we strive to provide elevated care for our patients and their families.”
In separate transactions on the same day, Ensign announced that it acquired Holly Heights Care and Rehabilitation, a 133-bed skilled nursing facility located in Denver, Colorado and City Park Healthcare and Rehabilitation Center, a 125-bed skilled nursing facility located in Denver, Colorado. One of the new facilities will be subject to a long-term, triple net lease and the other will be purchased by Standard Bearer and leased to an Ensign-affiliated operator.
All of these acquisitions are effective as of August 1, 2024 and bring Ensign’s growing portfolio to 315 healthcare operations, 29 of which also include senior living operations, across fourteen states. Ensign subsidiaries, including Standard Bearer, own 122 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 315 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@ensignservices.net
SOURCE: The Ensign Group, Inc.
