NEWS

The Ensign Group Acquires Texas Healthcare Campus

Thursday, Feb 02, 2017

The Ensign Group, Inc., the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies, announced today that it acquired the real estate and operations of Parklane West Healthcare Center, a 124-bed skilled nursing and 17-bed assisted living facility in San Antonio, Texas.  The acquisition was effective February 1, 2017.

"This acquisition adds to our growing presence in San Antonio, a market where we see a lot of potential for Keystone Healthcare LLC, our Texas operating subsidiary, to become the premier provider of post-acute care," said Christopher Christensen, Ensign's President and Chief Executive Officer.  "We are excited for the opportunity to combine Parklane with our existing Keystone operations and are confident that it will strengthen our ability to provide top-quality care to current and future patients in the Bexar County area," he added.

Parklane West, which is subject to a long-term ground lease, had an occupancy rate of approximately 34% at acquisition.  Mr. Barry Port, Chief Operating Officer for Ensign Services said, "Parklane represents an ideal turn-around opportunity because it combines outstanding physical facilities with a solid core of providers that truly care about the residents and their families." Mr. Port added, "Our Keystone team is looking forward to offering a wide selection of high quality post-acute and assisted living services to residents of the 400-unit independent living operation already located on the campus and to the healthcare community at large."

This acquisition brings Ensign's growing portfolio to 211 healthcare facilities, fifty-one of which are owned, nineteen hospice agencies, seventeen home health agencies and three home care businesses across fourteen states.  Mr. Christensen reaffirmed that the organization is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses throughout the United States.

 

Source: investor.ensigngroup.net

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