The Ensign Group (ENSG) Unit Acquires River City Hospice
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The Ensign Group, Inc. (Nasdaq: ENSG) announced that Cornerstone Healthcare, Inc., Ensign’s home health and hospice portfolio subsidiary, acquired the assets of River City Hospice LLC, a provider serving the Northern Idaho region from an office in Post Falls, Idaho.
“River City Hospice is a strategic addition to our growing home health and hospice portfolio,” said Christopher Christensen, Ensign’s President and Chief Executive Officer. “We are committed to improving access to and quality of care in healthcare communities across the State of Idaho, and we are pleased to expand our services into the Coeur d’Alene region.”
“We are excited to partner with River City’s clinical and professional staff and community partners in building a world-class hospice team in Northern Idaho,” said Cornerstone’s President Daniel Walker. “Our unique operating model,” Mr. Walker continued, “which allows local clinical and operational leaders to focus on meeting the unique needs of their patients, employees and communities, will help ensure that all patients in a relatively underserved area have access to life changing hospice care.”
Mr. Walker affirmed that he expects the operations to be mildly accretive to earnings in 2017. With the acquisition, Cornerstone subsidiaries now operate eighteen hospice operations, seventeen home health operations, and three home care operations in nine western states.
Mr. Walker reaffirmed that Cornerstone is actively seeking additional opportunities to acquire both well-performing and struggling home health, hospice, and home care operations across the United States.
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