Ensign Group Expands In Colorado, Florida And Washington With The Acquisition Of 19 Separate Facilities; Terms Not Disclosed

The Ensign Group, Inc. (NASDAQ:ENSG), the parent company of the EnsignTM group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that it acquired the operations of four facilities in Washington (i) "Burien Nursing and Rehabilitation", a 140-bed skilled nursing facility located in Burien, WA; (ii) "Issaquah Nursing and Rehabilitation", a 140-bed skilled nursing facility located in Issaquah, WA; (iii) "Park Ridge Nursing and Rehabilitation", a 115-bed skilled nursing located in Shoreline, WA; and (iv) "Park West Nursing and Rehabilitation", a 137-bed skilled nursing facility located in Seattle, WA. Each of these facilities is operated by an Ensign affiliated operator and is subject to a long-term triple net lease."The addition of these facilities represents an exciting opportunity to strengthen our presence in the Pacific Northwest and further expand our operations in Washington," said Barry Port, Ensign’s Chief Executive Officer. "These facilities serve vibrant communities throughout the Seattle area, and we have tremendous confidence in our local leadership teams and their ability to support strong clinical programs while maintaining a resident-centered approach to care."Steve Farnsworth, President of Pennant Healthcare LLC, Ensign’s Washington-based subsidiary, added "These facilities have long served as important healthcare resources in their communities, and we are excited to build upon that legacy. Our local teams look forward to working closely with these amazing caregivers as we continue enhancing care for the residents and families in these communities."In an additional transaction on the same day, Ensign announced that it acquired the operations of eight facilities in Florida comprised of 713 additional skilled nursing beds and 66 independent living units. Every facility is operated by an Ensign affiliated operator and is subject to a long-term triple net lease.In a separate transaction on the same day, Ensign announced that it acquired the real estate and operations of "Englewood Heights Nursing and Rehabilitation", a 118-bed skilled nursing facility located in Pensacola, Florida. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the facility is operated by an Ensign-affiliated tenant.In another transaction on the same day, Ensign announced that it acquired the operations of seven facilities in Colorado comprised of 760 additional skilled nursing beds and 47 independent living units. All seven facilities are operated by an Ensign affiliated operator and are subject to a long-term triple net lease.Additionally, Ensign announced that through subsidiaries of Standard Bearer Healthcare REIT, Inc. it acquired the real estate assets to five facilities that it had previously been operating under third-party triple net leases. These facilities total 755 skilled nursing beds and are now subject to long-term leases with subsidiaries of Standard Bearer.As of today, Ensign's growing portfolio consists of 418 healthcare operations, which includes 50 senior living operations, across 18 states. Ensign subsidiaries, including Standard Bearer, own 189 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, senior living and other healthcare related businesses throughout the United States.