The Ensign Group, Inc. (NASDAQ:ENSG) announced on Feb. 13 that an Ensign subsidiary had acquired Connected Home Health, a small home health agency based in Portland, Oregon, effective as of Feb. 10, 2012.
“We are pleased with the growth and development of our home health businesses thus far, and this lateral diversification broadens Ensign’s reach into that business,” said Christopher Christensen, Ensign’s president and CEO. “More importantly, this acquisition is an important first step in our desire to offer a wide range of healthcare services to the vibrant Oregon healthcare community.”
A subsidiary of Cornerstone Healthcare, Inc., Ensign’s home health and hospice-based portfolio subsidiary, will operate Connected Home Health.
The new acquisition joints Horizon Home Health and Hospice, the company’s existing home health and hospice operation in Idaho; Custom Care Hospice, Ensign’s hospice operation in the Dallas, Tex. market; Symbil Home Health and Hospice, Ensign’s home health and hospice operation in the Salt Lake City, Utah, market; Homecare Solutions, Ensign’s home health agency in Denver, Colo. an Careage Home Care, Ensign’s home health agency in Cherokee, Iowa.
Ensign purchased Connected Home Health, formerly known as Portland Home Health, with cash and expects the transaction to be midly accretive to earnings in 2012.
Written by Alyssa Gerace