MISSION VIEJO, Calif., Dec. 21, 2012 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care, assisted living and urgent care companies, announced today that it has acquired Richland Hills Nursing and Rehabilitation Center, a 92-bed skilled nursing facility located in Fort Worth, Texas. The asset acquisition was effective on Monday, December 17, 2012.
"This acquisition broadens Ensign's existing operational base to the pivotal Fort Worth market," said Christopher Christensen, Ensign's President and Chief Executive Officer. "The combination of the this facility along with Ensign's existing operations in the greater Dallas area further enhances our ability to continue to provide high quality healthcare services to the markets we serve and strengthens our existing operating synergies," he added.
"We are proud to be joining a wonderful team of caregivers as we strive to become the facility of choice for Fort Worth's present and future patients," said Rick Forscutt, President of Keystone Care, Inc., a subsidiary of which will operate Richland Hills. He added that Ensign expects the newly-acquired facility, which had an occupancy rate of 58% at acquisition, to be accretive to earnings in 2013.
The purchases were made with cash and bring Ensign's growing portfolio to 108 healthcare facilities, 86 of which are Ensign-owned, four hospice companies and six home health businesses across 11 states. Ensign affiliates hold purchase options on two of its 22 leased facilities. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses across the United States.
About Ensign(TM)
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, urgent care services and other rehabilitative and healthcare services at 108 facilities, four hospice companies and six home health businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska and Oregon. More information about Ensign is available at http://www.ensigngroup.net.
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