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Ensign Group Acquires Skilled Nursing Facility

Ensign Group (NASDAQ: ENSG  ) has a new asset in its medicine chest. The company announced that, at the end of June, it had closed the acquisition of the Mountain View Rehabilitation and Care Center in Washington state. The center is an 82-bed skilled nursing facility located in the town of Marysville. The terms of the deal were not disclosed, although Ensign Group admitted that the purchase was effected in cash.

Mountain View will be operated by a subsidiary of Pennant Healthcare, which in turn is a subsidiary of Ensign Group.

The deal is part of the company's strategy to boost its presence in the region. In the press release announcing the news, the company quoted CEO Christopher Christensen as saying that "this strategic acquisition, together with our recent acquisitions in Redmond, Wash., further extends our growing footprint in the Seattle area's vibrant health-care community."

Christensen also reiterated that his company is "actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing, assisted living, and other health care-related businesses across the United States."

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DocumentId: 2523105, ~/Articles/ArticleHandler.aspx, 9/25/2016 10:36:42 AM

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9/23/2016 4:00 PM
ENSG $21.36 Down -0.07 -0.33%
The Ensign Group CAPS Rating: *****