Benzinga | Nov 2, 2020 06:05AM EST

The Ensign Group Acquires Skilled Nursing Facility in Texas

The Ensign Group, Inc. (NASDAQ:ENSG), the parent company of the EnsignTM group of companies, which provide skilled nursing and assisted living services, physical, occupational and speech therapies and other rehabilitative and healthcare services, announced today that it acquired the real estate and operations of The Medical Lodge of Amarillo, an 82-bed skilled nursing facility, located in Amarillo, TX. The acquisition was effective November 1, 2020.

"This acquisition broadens our existing operational base in the important Amarillo market," said Barry Port, Ensign's Chief Executive Officer. "The combination of this facility along with our existing operations in the area further enhances our ability to continue to provide high quality healthcare services and strengthens our existing operating synergies," he added.

Kevin Niccum, President of Keystone Care LLC, Ensign's Texas-based subsidiary, added "We are proud to be joining a wonderful team of caregivers as we strive to become a trusted provider to our present and future patients." He added that the company expects the newly-acquired facility, which had an occupancy rate of 45% at acquisition, to be accretive to earnings in 2021.

This acquisition brings Ensign's growing portfolio to 227 healthcare operations, 24 of which also include assisted 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, assisted living and other healthcare related businesses throughout the United States.