Business
The Ensign Group Adds Four Skilled Nursing Facilities in Washington
SAN JUAN CAPISTRANO, Calif., June 02, 2021 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM group of companies,
About this update from The Ensign Group, Inc.
[{"type":"text","content":"SAN JUAN CAPISTRANO, Calif., June 02, 2021 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM 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 June 1, 2021, it acquired the operations of the following skilled nursing facilities in Washington: Mira Vista Care Center, a 94-bed skilled nursing facility located in Mount Vernon, WA;Shoreline Health and Rehabilitation, a 114-bed skilled nursing facility located in Shoreline, WA;The Oaks at Lakewood, a 80-bed skilled nursing facility located in Lakewood, WA; andThe Oaks at Timberline, a 98-bed skilled nursing facility located in Vancouver, WA. The real estate for each of these operations is owned by CareTrust REIT, Inc. (Nasdaq: CTRE) 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. “It has been several years since we have grown in the State of Washington and we are very excited to add these particular operations to our portfolio because of their cultural and geographical fit,” said Barry Port, Ensign's Chief Executive Officer. “We are also pleased to be expanding our continued and growing relationship with CareTrust and are happy to announce that, in connection with this transaction, CareTrust extended the lease term by ten years on the first-to-expire master lease pool. We are grateful for the strengthening of our long-standing partnership with CareTrust and look forward to many more years of working together on these and future opportunities,” he added. Tyler Hoopes, President of Pennant Healthcare, Inc., Ensign’s Washington-based subsidiary, added, “We are pleased to combine such a devoted and experienced team to our existing operational and clinical leaders in Washington and we are confident that they are poised to accomplish great things together.” “We want to congratulate the Ensign team on the addition of these facilities to their impressive and growing portfolio of healthcare operations,” said David Sedgwick, CareTrust’s President and Chief Operating Officer. “This acquisition presented the ideal opportunity to both expand and extend CareTrust’s deep-rooted relations...