The Ensign Group continues its pace of acquisitions this year with the three recently announced transactions. First, after operating a 162-bed skilled nursing facility in Whittier, California since January 2006 under a sublease arrangement, a subsidiary of Ensign continued the company’s strong growth this year by acquiring the ground lease, which has a remaining term of 20 years. This isn’t Ensign’s entry into the Whittier market, having previously acquired a 160-bed facility in the town. Similar to the recent transaction, the company had operated the facility under a lease since July 2000, only to exercise its purchase option, for an undisclosed cash amount.
Ensign also acquired a 215-bed skilled nursing facility in Olympia, Washington with an occupancy rate of 78%. And finally, Ensign acquired the operations of seven skilled nursing facilities and three assisted/independent living communities in Arizona, totaling 1,514 units/beds. Ensign’s operating subsidiaries entered into a new long-term master lease. These are the 14th, 15th and 16th announced acquisitions so far this year for the company, which has included everything from assisted living and skilled nursing to home health and urgent care businesses.
