The Ensign Group, Inc. (Nasdaq:ENSG) announced on Feb. 3 that it acquired an assisted living facility located in Reno, Nevada, effective Wednesday, Feb. 1, 2012.
Park Place Assisted Living is a 60-unit facility that has an occupancy rate of approximately 45% at time of acquisition. Ensign expects it to be operationally accretive to earnings in 2012.
“We are excited to extend our footprint in the well-regarded Reno healthcare community,” said Christopher Christensen, Ensign’s president and CEO, in a statement. “This opportunistic acquisition adds assisted living services to the skilled nursing and rehabilitative services we are currently providing at Rosewood Rehabilitation Center, a 99-bed facility we acquired last month, and further enhances Ensign’s operating synergies in this market.”
The purchase was made with cash, and brings Ensign’s portfolio to a total of 103 healthcare facilities, 78 of which are Ensign-owned, three hospice companies and four home health businesses in 10 states.
Written by Alyssa Gerace