The Ensign Group, Inc. acquired the operations of nine skilled nursing facilities in Tennessee and Alabama: Meadowbrook Healthcare and Rehabilitation Center (83 beds in Pulaski, TN), Wellpark Health and Rehabilitation (30 beds in Knoxville, TN), Legacy Park Health and Rehabilitation (176 beds in Knoxville), VanAyer Senior Living and Rehabilitation (91 beds in Martin, TN), Union City Health and Rehabilitation (115 beds in Union City, TN), Decatur County Healthcare (125 beds in Parsons, TN), Savannah Nursing and Rehabilitation (120 beds in Savannah, TN), Westwood Nursing and Rehabilitation (90 beds in Decaturville, TN) and The Health Center at Research Park (91 beds in Huntsville, AL).
Six of these operations are jointly owned by CareTrust REIT, Inc. and an investor, and are subject to a new, long-term triple net master lease with Ensign-affiliated operating companies effective January 1. The remaining three operations were purchased by Standard Bearer Healthcare REIT, Inc. effective December 31. All nine operations are operated by Ensign-affiliated companies.
The acquisition provided Ensign the opportunity to grow its presence in TN and establish its footprint in AL. Ensign’s growing portfolio consists of 333 healthcare operations, 30 of which also include senior living operations, across 15 states. Ensign subsidiaries, including Standard Bearer, own 129 real estate assets, 96 of which it operates. Ensign 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.
