Ensign Acquires Three Senior Living & Care Communities
The Ensign Group, Inc. (Nasdaq: ENSG) announced today that it has acquired three senior care properties—an assisted living community and two skilled nursing facilities.
Cascade Plaza, a 90-unit assisted living community in Redmond, Washington and its sister facility Cascade Vista, 110-bed skilled nursing center will both be acquired by Ensign.
“This is a strategic acquisition that extends our growing footprint in the Seattle area’s vibrant healthcare community,” said Ensign President and CEO Christopher Christensen.
Ensign’s Northwest-based subsidiary of Pennant Healthcare, Inc. will operate Cascade Vista, and Cascade Plaza will be operated by Ensign’s assisted living-based portfolio subsidiary, Bridgestone Living, Inc.
In a separate transaction also disclosed on Tuesday, Ensign announced it has acquired Omaha Nursing Center, a skilled nursing facility based in Omaha, Nebraska.
“This strategic acquisition offers tremendous operating synergies for Ensign’s existing operational base in Nebraska and Iowa,” said Christensen.
Omaha Nursing will be operated by a subsidiary of Gateway Healthcare, Inc., Ensign’s Nebraska-based portfolio subsidiary.
The purchases were made with cash and bring Ensign’s growing portfolio to 116 healthcare facilities, 93 of which are Ensign-owned, seven hospice companies and nine home health businesses across 11 states.
Ensign affiliates hold purchase options on two of its 23 leased facilities. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses across the United States.
Avamere Family of Companies Buys 6 Senior Care Facilities
The Avamere Family of Companies, a senior healthcare services provider in Oregon and Washington, announced the acquisition of six transitional care facilities.
The acquisition encompasses facilities in Oregon, Washington, Idaho and Colorado.
“These added transitional care buildings continue to reinforce Avamere’s desire for growth in existing markets and the expansion of our excellent senior services into new areas,” says Jon Morgan, CEO of Avamere.
Avamere’s expansion enables the company to deliver comprehensive post-acute rehabilitation and nursing services for seniors in two new states—Idaho and Colorado.
The acquired facilities under the Avamere Transitional Care and Rehabilitation name are located in Northglenn and Brighton, Colo.; Boise, Ida.; and Queen Anne in Seattle, Wash. Avamere Health Services of Rogue Valley is located in Medford, Ore., while Avamere Bellingham Health Care and Rehabilitation Services is in Bellingham, Wash.
Oxford Holdings Acquires Kansas Senior Living Community
Oxford Holdings acquired a senior living community in Wichita, Kan. from Broadmoor One LLC for an undisclosed price in a transaction that was finalized on April 1.
The community is being renamed from Gracious Senior Living to Oxford House, and consists of a clubhouse and four eight-unit homes with capacity for up to 32 residents. Each of the eight homes features private rooms with bathrooms that circle a common kitchen and dining area, along with a living room, den, and beauty parlor.
Oxford House was built in 2010 and has been managed by Oxford Holdings for about a year prior to the acquisition.
A certified medication aide and nurse aide are on site at each home 24/7, and Oxford House also plans to hire a life enrichment coordinator. Starting in May, the new owner plans to use a new system for electronic medication management, and the community will shift toward more personalized activities and interactions for residents based on their interests, rather than planned activities.
Oxford Holdings currently owns three local senior care communities in Kansas, including a 77-unit assisted living and memory care community in west Wichita that’s in pre-sale, along with other projects in the pipeline.
Millcreek Buys CONs for $2.5 Million to Build New Skilled Care Facility
Millcreek Health System (MHS), the parent company of Millcreek Manor, announced it has reached an agreement with the Department of Public Welfare to buy 88 nursing bed licenses from Pleasant Ridge Manor in Erie County, Pennsylvania.
Under the agreement, Pleasant Ridge would sell the 88 bed licenses to Millcreek Manor for $24,000 each, or $2.11 million, and Millcreek would pay an additional $400,000 to offset expenses Pleasant Ridge might incur for allowing Millcreek to wait until December to take possession of the licenses.
The agreement enables MHS to begin building its new 138-bed facility sometime this summer.
The deal is also related to Erie County’s multi-million-dollar plan to consolidate the 312-Pleasant Ride Manor-West in Fairview Township and the 76-bed Pleasant Ridge Manor-East in Millcreek Township.
The Department of Welfare initially rejected Millcreek Manor’s $2.5 million deal with Pleasant Ridge Manor in June, which MHS appealed.
The denial was based on the the belief that Millcreek Manor did not clearly show the transfer was necessary to ensure that an adequate number of certified skilled nursing beds are maintained in the region.
The new five-story building will be known as the Lake Erie College of Osteopathic Medicine Senior Living Center and is scheduled to open in 2015.
McFarlan Foundation Renames Senior Living Facility Amid $700,000 Investment
The McFarlan Foundation of Flint, Mich., is renaming The Court Street Village senior living apartments, a property the company purchased in 2012.
The apartment community’s new name will be the Court Street Commons and is located at the corner of E. Court Street and Lapeer Road in Flint.
McFarlan invested $500,000 in renovations to the property in 2012 and plans to invest another $200,000, according to President of the McFarlan Foundation Board, a nonprofit organization founded in 1929.
The apartment buildings were built in the early 1990s and contain a combined 256 one- and two-bedroom units, 40% of which are set aside for people whose income is 60% or below the median income for Genesee County. The rest of the units are rented at market rate.
Grand Lux Senior Living to Manage The Kalikow Group’s New Community
The Kalikow Group announced that Gran Lux Senior Living will manage the recently opened Oyster Creek Manor in Missouri City, Texas.
The facility is minutes from downtown Houston and is the area’s newest senior living facility.
“Oyster Creek Manor fills a huge need for senior housing in the Missouri City area,” said Edward Kalikow, President and CEO of The Kalikow Group, in a statement. “This is The Kalikow Group’s first investment in the assisted living arena and we are confident that Grand Lux and their management team will guarantee this facility’s success.”
Upon completion f the intake assessment, a team comprised of the Executive Director, Healthcare Director and designated Care Manager prepares an individualized service plan that is monitored on a daily basis.
“The Mission of Oyster Creek Manor is to set the standards of excellence for providing care, watchful oversight, and quality service for our residents,” said Lorne Schechter, Chief Operating Officer of Grand Lux Senior Living. “Our progress is demonstrated by our responsiveness, service excellence, and the dedication of our team to quality care.”
Services provided include: personal hygiene and grooming; socialization and activities; medication management; mobility and transferring; incontinence management; monitoring of safety; and meal assistance.
Grand Lux Senior Living is an eldercare living development and operations firm with more than 15 years of experience in designing assisted living communities and senior care projects.
Canadian Company Buys Senior Apartments with Revera
Réseau Sélection announced that it has purchased “Le Cambridge,” a senior residence located in Pointe-Claire, Quebec, in partnership with Canadian-based real estate investment trust Revera for an undisclosed price.
A Canadian company that specializes in construction, management and administration of private retirement complexes, Réseau Sélection will assume the management of the building.
“We are very happy to add this prestigious building to our network of private residences since it fits in quite well with the rest of our portfolio of 15 buildings located throughout Quebec,” said Réal Bouclin, president of Réseau Sélection.
Réseau Sélection acquired the building in partnership with long-term care REIT Revera, whose portfolio includes more than 90 retirement residences across Canada. This acquisition marks the first time that the companies have worked together.
“Le Cambridge has an excellent reputation on Montreal’s West Island, and we plan to add some of our practices to create a living environment that is even more interesting and pleasant,” said Bouclin.
Mears Acquires Scottish Senior Care Business for $34.4 Million
United Kingdom-based home care and support services provider Mears Group recently acquired ILS, a Scottish care business, for £22.5 million ($34.425 USD) in a transaction that closed April 24.
The acquisition provides Mears with a larger platform to roll out the provision of complex medical support packages across the rest of the U.K.
More than 40% of ILS’s care is in high acuity services, and includes NursePlus Healthcare Services, which provides specialized and personalized community-based care for people who want to stay in their homes.
” Fundamentally, the acquisition will provide Mears with the platform to provide higher acuity home services across the UK, complementing Mears existing care capabilities and developing the capability to offer longer term continuing healthcare in the home, an area in which Mears does not currently operate,” said David Miles, CEO of Mears Group. ” The acquisition provides Mears with an excellent geographic fit with the Mears existing care business in Scotland with limited branch overlap and will increase our presence in Scotland.”
Written by Jason Oliva