The Ensign Group Acquires Arizona Skilled Nursing Facility
YOUNGTOWN, Ariz., Dec. 3 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it has acquired SunView Care Center, an operating skilled nursing and Alzheimer's campus in Youngtown, Arizona, a sister community adjacent to Arizona's Sun City retirement community. The acquisition was effective December 1, 2009.
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"We are pleased to be adding a new facility and new services on the West side of the Phoenix metro area," said Michael Dalton, President and Chief Executive Officer of Ensign's Arizona-based Bandera Healthcare subsidiary. He added that SunView is situated in the center of Northwest Valley's burgeoning 55+ retirement area, directly between Sun City and Sun City West, and just minutes from the area's two major hospitals.
The 127-bed campus includes SunView's 48 skilled nursing beds and 26-bed sub-acute unit, plus Villa Valencia, a 53-bed secure Alzheimer's facility. Ensign paid cash for the Arizona campus.
"We're excited for the opportunity to enhance SunView's excellent reputation and broaden its service offerings in the greater Sun City healthcare market," said Christopher Christensen, Ensign's President and Chief Executive Officer. He added that Ensign expects SunView, which had occupancy at acquisition of approximately 63%, to be accretive to earnings in 2010.
Ensign also acquired three skilled nursing facilities in Texas on December 1. The Texas facilities include the 93-bed Grand Terrace Rehabilitation & Healthcare Center in McAllen; the 100-bed Alta Vista Rehabilitation & Healthcare in Brownsville; and the 95-bed Veranda Rehabilitation & Healthcare in Harlingen. The three facilities join Ensign's well-regarded Village Healthcare & Rehabilitation Center in McAllen, where an Ensign affiliate has been serving the greater Rio Grande Valley since 1999. The Texas facilities were also purchased with cash.
Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling long-term care operations across the Western United States. The four acquisitions bring Ensign's growing portfolio to 77 facilities, 46 of which are Ensign-owned. Ensign affiliates hold purchase options on nine of the 31 leased facilities.
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, hospice services, and other rehabilitative and healthcare services for both long-term residents and short-stay rehabilitation patients at 77 facilities in California, Arizona, Texas, Washington, Utah, Idaho and Colorado. More information about Ensign is available at http://www.ensigngroup.net.
SOURCE The Ensign Group, Inc.