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Ensign Group Acquires 2 Properties out of Bankruptcy Sales

February 10, 2015–In separate transactions, The Ensign Group, Inc. (NASDAQ: ENSG) announced that it had acquired a Nebraska CCRC and a Texas post-acute care campus, both in connection with Chapter 11 bankruptcies.  The Ensign Group acquired Nebraska-based Skyline Nursing and Rehabilitation, a 100-bed skilled nursing operation, and Skyline Assisted and Independent Living, an independent living, assisted living and seniors apartment operation with 209 units. The acquisition, which cost a total of $13 million, was made in connection with the Chapter 11 bankruptcy filed by Skyline Manor, Inc. in May of last year and was effective February 1, 2015. Ensign expects operations in Skyline, which had an occupancy rate of approximately 69% at acquisition, to be mildly accretive to earnings in 2015.  In a separate announcement made on the same day, The Ensign Group, Inc. acquired the real estate and operations of Mesa Springs, a 44-acre post-acute care campus located in Abilene, Texas, comprised of a 75-bed skilled nursing operation and 60 independent living homes.  The $6.6 million purchase was made in connection with the Chapter 11 bankruptcy filed by Sears Methodist Retirement System in June of last year and was effective February 1, 2015.  Ensign expects the operation, which had an occupancy rate of approximately 80% at acquisition, to be accretive to earnings in 2015.  These acquisitions bring Ensign’s growing portfolio to 143 facilities, eleven hospice agencies, thirteen home health agencies, two home care businesses and sixteen urgent care clinics across 12 states.

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