The Ensign Group (ENSG) Announces Acquisition of Three Assisted-Living Facilities

The Ensign Group (Nasdaq: ENSG) announced that it acquired the operations and real estate of Heritage Assisted Living of Boise, a 100-unit assisted living facility in Boise, Idaho; Heritage Assisted Living of Twin Falls, a 70-unit assisted living facility in Twin Falls, Idaho; and Woodstone Assisted Living, an 85-unit assisted living facility also located in Twin Falls. All three acquisitions were effective April 16, 2015.

"Our skilled nursing, home health and hospice operations have a strong presence in the state of Idaho and we are thrilled to now add assisted living and memory care services to our continuum of care offered in the state," said Christopher Christensen, Ensign's President and Chief Executive Officer.

"We look forward to working together with the residents, their families and the local community as we strive to exceed the clinical, emotional and social needs of each resident we have the privilege of serving," said John Gurrieri, President of Bridgestone Living LLC, Ensign's seniors housing subsidiary. He also added that Bridgestone expects operations at the newly-acquired facilities, which had an aggregate occupancy rate of approximately 75% at acquisition, to be mildly accretive to earnings in 2015.

These acquisitions bring Ensign's growing portfolio to 147 healthcare facilities, twenty-two of which are owned, twelve hospice agencies, thirteen home health agencies, two home care businesses and sixteen urgent care clinics across 12 states. Mr. Christensen reaffirmed that Ensign continues to see a very healthy pipeline for growth opportunities within its existing footprint and in new markets. He also indicated that the organization is actively seeking and negotiating several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses.

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