The Ensign Group continues to build on the buying spree begun in the past quarter when the company announced acquisitions in Colorado and Iowa.
Executives teased on a second-quarter earnings call in July that multiple acquisitions were forthcoming that they said would leave room for even more growth during the year.
Now, the San Juan Capistrano, CA-based company and its subsidiaries have added two skilled nursing facilities in Denver and another in Des Moines, IA.
“We are very excited to add to our recent growth in Colorado, a state in which we have established an outstanding clinical reputation over the last 15 years,” CEO Barry Port stated in a Friday announcement.
Ensign acquired City Park Healthcare and Rehabilitation Center, 125-bed SNF, effective as of Aug. 1, and it is subject to a long-term, triple net lease. Dave Jorgensen, president of Endura Healthcare, Ensign’s Colorado-based subsidiary, said the company is looking to add “new high-quality services” at the location.
In a separate transaction in Denver, Ensign acquired Holly Heights Care and Rehabilitation, a 133-bed SNF, effective Aug. 1. The property was acquired by a subsidiary of Standard Bearer Healthcare REIT, Ensign’s captive real estate company.
“We are thrilled to continue our recent growth in Colorado,” Port stated. “This acquisition also provided another great opportunity to add to Standard Bearer’s growing portfolio.”
A subsidiary of Standard Bearer also acquired Greater Southside Health and Rehabilitation, a 76-bed SNF in Des Moines, IA, effective Aug. 1.
“This operation is well situated in Des Moines to become one of the leading operations in the area,” Jorgensen said.
The acquisitions announced Friday bring The Ensign Group’s portfolio to 315 healthcare operations, 29 of which also include senior living operations, across 14 states. Ensign subsidiaries, including Standard Bearer, own 122 real estate assets.
