MISSION VIEJO, Calif., Dec. 13 /PRNewswire-FirstCall/ -- The Ensign Group,
Inc. (Nasdaq: ENSG), the parent company of the Ensign(TM) group of skilled
nursing, rehabilitative care services and assisted living companies, announced
today that it completed the purchase of two skilled nursing facilities in
California and one assisted living facility in Arizona for an aggregate
purchase price of approximately $12.8 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071213/LATH168LOGO)
Previously leased facilities are now owned
The three facilities, which include 123 skilled nursing beds, 90 assisted
living units and 84 independent living units, were acquired from affiliates of
Healthcare Property Investors, Inc. (NYSE: HCP), which has previously sold two
other facilities to Ensign(TM) affiliates. The acquisitions were completed by
three separate holding affiliates of The Ensign Group, Inc. Prior to the
acquisitions, operating subsidiaries of The Ensign Group, Inc. operated these
three facilities under a master lease agreement, which was terminated upon the
closing of the transaction. These three operators will continue to operate the
facilities under new leases with the acquiring Ensign(TM) affiliates.
Proceeds of Ensign's(TM) recent initial public offering were used to
complete the transactions. The acquisitions bring the number of owned
facilities in Ensign's(TM) combined portfolio to 26. Ensign(TM) affiliates
continue to hold purchase contracts or purchase options on 10 of the remaining
35 leased facilities.
About The Ensign Group, Inc.
The Ensign Group, Inc.'s operating subsidiaries provide a broad spectrum
of skilled nursing and assisted living services, physical, occupational and
speech therapies, and other rehabilitative and healthcare services for both
long-term residents and short-stay rehabilitation patients, at 61 separate
operating locations in California, Arizona, Texas, Washington, Utah and Idaho.
Each of these facilities is operated by a separate, wholly-owned independent
operating subsidiary that has its own management, employees and assets. The
use of "we," "us," "our" and similar words in this release is not meant to
imply that these facilities are operated by the same entity. More information
about The Ensign Group, Inc. is available at http://www.ensigngroup.net.
SOURCE The Ensign Group, Inc.
Gregory Stapley, Investor-Media Relations of The Ensign Group, Inc.,
+1-949-487-9500, ir@ensigngroup.net
