Ensign Group acquires eight facilities in western states

The Ensign Group (ENSG) announced that it has agreed to acquire eight facilities in the states of Alaska, Washington, Oregon, and California, subject to the completion of certain regulatory approvals and other closing conditions. This acquisition includes the real estate and operations and are being acquired from Providence Home and Community Care. The real estate assets for all eight facilities will be purchased by Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate subsidiary. Six of the eight operations will be operated by Ensign affiliated operating companies and two facilities will be operated by a third-party tenant that will enter into a new, long-term triple net master lease with Standard Bearer as landlord. It is anticipated that the transaction will be effective in the next few months. Upon closing this transaction, Ensign’s growing portfolio will consist of 330 healthcare operations, 32 of which also include senior living operations, across 16 states. Ensign subsidiaries, including Standard Bearer, will own 134 real estate assets, of which 95 are operated by Ensign-affiliated operating companies and 35 are operated by third party tenants. CEO Port reaffirmed that the organization is actively seeking several other transactions 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.