The Ensign Group (NASDAQ: ENSG) moved into Nevada with the acquisition of the Grand Court Las Vegas, a 152-unit assisted and independent living facility in Las Vegas, Nevada.
Effective June 1, 2011, Ensign said it paid an undisclosed amount of cash for the facility, which as of closing, had an occupancy rate of approximately 85%.
“We are excited to extend our growing footprint into Nevada, and look forward to being a solid contributor to the Las Vegas area’s vibrant healthcare community,” said Christopher Christensen, Ensign’s President and Chief Executive Officer. Noting that this facility has an excellent clinical history, a stable long-term staff and an excellent reputation in the community, he called it “the perfect facility to establish Ensign’s presence in Nevada.”
Ensign said the facility was acquired from a well regarded long term care company that had operated it for several years.
“We are anxious to build on the former owner’s outstanding reputation for quality care and patient outcomes,” said John Gurrieri, President of the Ensign subsidiary overseeing the transition. “We admire the great work done by the incredible team here and look forward to working together as we continue to strengthen our partnerships with patients and families to provide superior care,” he added.
The company added that it’s on the hunt for for other other potential acquisitions of well performing and struggling long-term and short-term care operations across the United States.
The acquisition brings Ensign’s growing portfolio to 87 healthcare facilities, 58 of which are Ensign-owned, three hospice companies and two home health businesses.