The Ensign Group Acquires Nevada Senior Housing Facility
MISSION VIEJO, CA–The Ensign Group, Inc. (NASDAQ: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies, announced today that Bridgestone Living LLC, Ensign’s assisted and independent living portfolio company, acquired the real estate and operations of Villa Court Assisted Living and Memory Care, a 53-unit assisted living and 20-unit memory care facility located in Las Vegas. The acquisition was effective October 1, 2018.
“We are thrilled to expand our senior housing footprint in Las Vegas. It’s a market in which we anticipate growing as we rely on the talented leaders there that each seek to become the community of choice in their area,” said Christopher Christensen, Ensign’s president and CEO. “We continue to be very selective in our acquisition efforts, but know this opportunity met our picky standards and will be a solid contributor,” he added.
“Operating this community and being entrusted to provide care to its residents will increase the resources and strengthen the level of support and care we can provide to all of our residents in the Vegas market. We are excited to welcome the staff and amazing residents to the Bridgestone family,” said John Gurrieri, president of Bridgestone. He added that Villa Court had an occupancy rate of approximately 74% at the time of acquisition.
This acquisition brings Ensign’s growing portfolio to 186 skilled nursing operations, 22 of which also include assisted living operations, 52 assisted and independent living operations, 21 hospice agencies, 22 home health agencies and six home care businesses across sixteen states. Ensign owns the real estate at 69 of its 237 healthcare operations.
Christensen reaffirmed that the organization 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.