The Ensign Group, Inc. (Nasdaq: ENSG) announced this week that it has acquired Wisteria Place, a continuing care retirement community, and its sister facility Wisteria Independent Living, both located in Abilene, Texas as of January 1, 2011. Wisteria Place has a total 123 skilled nursing beds, 77 assisted living units and 20 independent living cottages and Wisteria Independent Living operates 72 independent living units. Ensign’s subsidiary, Keystone Care, will operate the facilities in addition to another facility in the Abilene market. The facilities are expected to be accretive to earnings in 2011 and were purchased with cash.
"This strategic acquisition further solidifies Ensign’s operating synergies in one of our most mature and productive markets," said Christopher Christensen, Ensign’s President and Chief Executive Officer.