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The Ensign Group Acquires Three Texas Skilled Nursing Facilities

Stocks in this article: ENSG

MISSION VIEJO, Calif., April 3, 2013 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), announced today that it has acquired San Marcos Rehabilitation and Healthcare Center, a 129-bed skilled nursing facility in San Marcos, Texas, The Courtyard Rehabilitation and Healthcare Center, a 56-bed skilled nursing facility in Victoria, Texas, and La Villa Rehabilitation and Healthcare Center, a 152-bed skilled nursing facility also in Victoria, Texas. The acquisitions were effective April 1, 2013.

"These opportunistic acquisitions further solidify Ensign's presence in the important Southeastern Texas area," said Christopher Christensen, Ensign's President and Chief Executive Officer. He noted that the acquisitions increase Ensign's operational base in Texas to 27 skilled nursing and assisted living facilities, further enhancing operating synergies in one of Ensign's most mature and productive markets.

"We are excited to work with the wonderful caregivers at each of these facilities to enhance the quality of skilled nursing care services provided to their present and future patients, and to meet and exceed the clinical, emotional and social needs of each resident and their family," added Barry Port, Ensign's President of Skilled Nursing and Assisted Living Services. Mr. Port noted that these facilities will each be operated by a subsidiary of Keystone Care, Inc., Ensign's Texas-based portfolio subsidiary, and that Ensign expects the facilities, which had a combined occupancy rate of 50% at acquisition, to be accretive to earnings in 2013.

The purchases were made with cash and bring Ensign's growing portfolio to 112 healthcare facilities, 90 of which are Ensign-owned, seven hospice companies and nine 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.

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