The Ensign Group, Inc. (NASDAQ:ENSG) announced on Jan. 4 that is has acquired a Phoenix, Ariz.-located assisted living facility, effective Dec. 30, 2011 with the transfer of operations effective on Jan. 1, 2012.
Rose Court Senior Living is a 93-unit facility that had an occupancy rate of approximately 50% at the time of acquisition. Bridgestone Living, Inc., Ensign’s seniors housing subsidiary, expects the property to be operationally accretive to earnings in 2012.
“This opportunistic acquisition further solidifies Ensign’s operating synergies in the Phoenix market,” said Christopher Christensen, Ensign’s President and Chief Executive Officer. He also noted that the facility was purchased from a lender that foreclosed on the property last summer.
The purchase was made in cash and brings Ensign’s portfolio to 102 healthcare facilities, 77 of which are Ensign-owned; three hospice companies; and four home health business, located in 10 states. Additionally, Ensign affiliates hold purchase options on five of their 25 leased facilities.
Written by Alyssa Gerace