TACOMA, Wash., Jan. 7, 2013 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care, assisted living and urgent care companies, announced today that it has acquired Puget Sound Home Health, a home health agency certified by the Joint Commission on Accreditation of Healthcare Organizations based in Tacoma, Washington. The acquisition was effective as of January 1, 2013.
"This acquisition broadens Ensign's existing operational base in the important south Puget Sound market," said Christopher Christensen, Ensign's President and Chief Executive Officer. "The combination of this agency along with Ensign's existing operations in the Seattle area further enhances our ability to continue to provide high quality healthcare services to the markets we serve and strengthens our existing operating synergies," he added.
Puget Sound Home Health will be operated by a subsidiary of Paragon Healthcare, Inc., Ensign's home health and hospice-based portfolio subsidiary for the Northwest. "We are proud to be joining a wonderful team of caregivers that have done an amazing job of creating a caring, competent and patient-centered approach to home health care, and Paragon and Ensign are excited to build upon the outstanding foundation of quality care we inherited," said Steve Burningham, Paragon's President. He added that Ensign expects the newly-acquired agency to be accretive to earnings in 2013.The purchase was made with cash and brings Ensign's growing portfolio to 108 healthcare facilities, 86 of which are Ensign-owned, six hospice companies and seven home health businesses across 11 states. Ensign affiliates hold purchase options on two of its 22 leased facilities. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses across the United States. About Ensign(TM) The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, urgent care services and other rehabilitative and healthcare services at 108 facilities, six hospice companies and seven home health businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska and Oregon. More information about Ensign is available at http://www.ensigngroup.net . The Ensign Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13849
CONTACT: The Ensign Group, Inc. (949) 487-9500 email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV