The Ensign Group (ENSG) Reports Acquisition of Texas Skilled Nursing Facility
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The Ensign Group, Inc. (NASDAQ: ENSG), the parent company of the Ensign™ group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services, announced today that it acquired the operations of San Pedro Manor, a 150-bed skilled nursing facility located in San Antonio, TX. The acquisition was effective February 1, 2021 and will be subject to a long-term, triple net lease.
“This acquisition is a perfect fit with our existing facilities in Texas and we are excited for the continued growth in the San Antonio area,” said Barry Port, Ensign's Chief Executive Officer. “The ability to continue to grow in the midst of a pandemic is a true testament to our local team of clinical and operational leadership and their experience, planning and preparation. We have full confidence in our team’s ability to make this another great transition,” he added.
Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary, added “We are honored to be joining the outstanding team at San Pedro Manor and are looking forward to combining our experience with the goal of providing high quality care to our patients and their families.”
This acquisition brings Ensign's growing portfolio to 232 healthcare operations, 24 of which also include assisted living operations, across thirteen states. Ensign owns 94 real estate assets. Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses throughout the United States.
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