Benzinga | Aug 2, 2021 06:08AM EDT

The Ensign Group Adds Two Skilled Nursing Facilities In Texas; Terms Not Disclosed

The Ensign Group, Inc. (NASDAQ:ENSG), the parent company of the Ensign(tm) 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, effective August 1, 2021, it acquired the operations of the following skilled nursing facilities in Texas:



* Sedona Trace Health and Wellness Center, a 119-bed skilled nursing facility located in Austin, TX; and

* Cedar Pointe Health and Wellness Center, a 122-bed skilled nursing facility located in Cedar Park, TX.

The real estate for each of these operations was acquired by CareTrust REIT, Inc. (NASDAQ:CTRE) in the transaction and each operation will be added to an existing long-term, triple-net master lease, which is currently in place between Ensign affiliates and CareTrust.

"We are excited to be growing in the Greater Austin area, which is a part of Texas we have been looking to grow in for some time. These acquisitions are a perfect fit both from a geographic and cultural perspective," said Barry Port, Ensign's Chief Executive Officer. "We are again thrilled to be announcing our growing relationship with CareTrust and are excited to announce that, in connection with this transaction, CareTrust extended the applicable lease term by ten years. We continue to look forward to many more years of working together with CareTrust on these and future opportunities," he added.

Kevin Niccum, President of Keystone Care LLC, Ensign's Texas-based subsidiary, added "These recently constructed facilities represent fantastic growth opportunities in the short-term and the long term. We look forward to working closely with an outstanding team of professionals that truly care about the residents and their families." This acquisition brings Ensign's growing portfolio to 242 healthcare operations, 22 of which also include senior living operations, across thirteen states. Ensign owns 95 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.