MISSION VIEJO, Calif., Nov. 3, 2010 /PRNewswire-FirstCall/ -- The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it acquired Canterbury Gardens Independent & Assisted Living Community, a 235-bed assisted and independent living facility in Aurora, Colorado. The acquisition was effective November 1, 2010.
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"This strategic acquisition further solidifies Ensign's operating synergies in a key operating market," said Christopher Christensen, Ensign's President and Chief Executive Officer. Ensign first entered Colorado in early 2009, acquiring three skilled nursing facilities and one assisted living facility in the Denver metropolitan area from a respected non-profit operator.
The facility was acquired from a well-regarded long-term care company that had operated it for several years. Mr. Christensen added that Ensign expects operations in the facility, which had an occupancy rate of approximately 85% at acquisition, to be operationally accretive to earnings starting in 2011. Ensign purchased the facility with cash.
Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling long-term care operations across the Western United States. The acquisition brings Ensign's growing portfolio to 82 healthcare facilities, 52 of which are Ensign-owned, two hospice companies and a home health business. Ensign affiliates hold purchase options on eight of its 30 leased facilities.
About Ensign(TM)
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, and other rehabilitative and healthcare services for both long-term residents and short-stay rehabilitation patients at 82 facilities, two hospice companies and a home health business in California, Arizona, Texas, Washington, Utah, Idaho and Colorado. More information about Ensign is available at http://www.ensigngroup.net.
SOURCE The Ensign Group, Inc.
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