Ensign Expands Into Texas and Wisconsin

The Ensign Group boosted its position in two markets with the acquisition of five assisted living communities previously operated by Brookdale Senior Living. First, in Texas, where the company already owns nearly fifty properties, Ensign acquired two 37-unit assisted living communities located in the towns of Lancaster (Dallas MSA) and Paris (rural east Texas). Lately, Ensign has only acquired skilled nursing facilities in the state: one San Antonio SNF in February 2017 and two others previously owned by National Health Investors in April 2016, to name a couple.

So, while Ensign may have veered slightly from its recent Texas strategy with those two communities, the company doubled down in Wisconsin with the addition of three more assisted living communities in that state. Complementing Ensign’s recent portfolio acquisition of 15 assisted living properties and 687 units from Harmony Living Centers in December 2016, each community features 19 units, and they are located in Fond du Lac, Kenosha and Oshkosh (all in the southeastern part of the state). Ensign’s seniors housing subsidiary Bridgestone Living LLC will look to improve occupancy (combined 80% across the five communities) as it takes over operations from Brookdale.

With the acquisition, Ensign’s portfolio grows to 222 healthcare properties, of which 56 are owned. In addition, the company operates 20 hospice agencies, 18 home health agencies and three home care businesses across 14 states. Considering this impressive growth, we also wonder at what point will Ensign stop to breathe? We know of a few cautionary tales of companies growing beyond their means…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *