Ensign Group leverages growth momentum with 3 SNF acquisitions

Ensign Group is continuing its buying spree that began last quarter when the company announced acquisitions in Colorado and Iowa.

In July, during a second-quarter earnings conference call, executives said the company had a number of acquisitions in the pipeline that they believed would create the potential for even greater growth throughout the year.

Now, the San Juan Capistrano, California-based company and its subsidiaries have opened two nursing care centers in Denver and another in Des Moines, Iowa.

“We are very excited to continue our recent growth in Colorado, a state where we have built an outstanding clinical reputation over the past 15 years,” CEO Barry Port said in an announcement Friday.

Ensign acquired City Park Healthcare and Rehabilitation Center, a 125-bed SNF, effective Aug. 1, under a long-term, triple-net lease. Dave Jorgensen, president of Endura Healthcare, a Colorado-based subsidiary of Ensign, said the company intends to add “new, high-quality services” at the location.

In a separate transaction in Denver, Ensign acquired Holly Heights Care and Rehabilitation, a 133-bed long-term care facility, effective Aug. 1. The property was acquired by a subsidiary of Standard Bearer Healthcare REIT, a real estate subsidiary of Ensign.

“We are excited to continue our recent growth in Colorado,” Port said. “This acquisition also provides another great opportunity to add to Standard Bearer’s growing portfolio.”

The Standard Bearer subsidiary also acquired Greater Southside Health and Rehabilitation, a 76-bed long-term care facility in Des Moines, Iowa, effective Aug. 1.

“This operation is well-located in Des Moines and has the potential to become one of the leading operations in the region,” Jorgensen said.

The acquisitions announced Friday increase The Ensign Group’s portfolio to 315 health care operations, including 29 senior living operations, in 14 states. Ensign subsidiaries, including Standard Bearer, own 122 real estate assets.