The Ensign Group acquired nine skilled nursing facilities in Tennessee and Alabama to expand its healthcare operations.
Quiver AI Summary
The Ensign Group, Inc. has announced the acquisition of several skilled nursing facilities located in Tennessee and Alabama, which includes nine different operations such as Meadowbrook Healthcare in Pulaski and The Health Center at Research Park in Huntsville. This acquisition enhances Ensign's presence in Tennessee and establishes its footprint in Alabama, with facilities expected to contribute significantly to the company’s operations. The transaction involves a long-term lease with CareTrust REIT and includes the mentorship of local leadership in the transition process. Ensign now operates 333 healthcare facilities across 15 states and continues to seek opportunities for further expansion in the healthcare sector.
Potential Positives
- Ensign Group's acquisition of nine skilled nursing facilities in Tennessee and Alabama significantly expands its operational footprint in these states, enhancing its market presence.
- The acquisition includes a combination of long-term leases and direct ownership, providing diverse operational avenues and potential revenue streams for the company.
- Strong local leadership and preparations indicate a strategic approach towards effectively integrating the new facilities, which may lead to improved service offerings and patient care.
- The company is actively pursuing further acquisition opportunities, signaling commitment to growth and strengthening its position within the healthcare sector.
Potential Negatives
- The company is actively seeking to acquire both well-performing and struggling skilled nursing and healthcare related businesses, which may raise concerns about the sustainability of its current operations and financial health.
- The acquisition involves a new long-term lease arrangement with CareTrust REIT, which indicates a dependency on external financing and may affect operational flexibility.
- The statement on rapidly expanding into new markets could suggest a risk of overextension in a highly regulated and competitive healthcare sector.
FAQ
What is the recent acquisition by The Ensign Group?
The Ensign Group acquired nine skilled nursing facilities located in Tennessee and Alabama to expand its healthcare services.
How many skilled nursing facilities were acquired?
The Ensign Group acquired a total of nine skilled nursing facilities in its recent expansion efforts.
What states are involved in this acquisition?
The recent acquisition involves skilled nursing facilities located in Tennessee and Alabama.
What are the operations of the newly acquired facilities?
The acquired facilities provide skilled nursing services, rehabilitation, and other healthcare services to residents.
Who operates the newly acquired skilled nursing facilities?
All nine facilities are operated by Ensign affiliated operating companies, ensuring continuity of care and services.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ENSG Insider Trading Activity
$ENSG insiders have traded $ENSG stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $ENSG stock by insiders over the last 6 months:
- DAREN SHAW has traded it 3 times. They made 0 purchases and 3 sales, selling 4,000 shares.
- ANN SCOTT BLOUIN sold 375 shares.
- BARRY PORT (Chief Executive Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 14,118 shares.
- SWATI BARGOTRA ABBOTT sold 1,000 shares.
- SPENCER BURTON (President and COO) has traded it 4 times. They made 0 purchases and 4 sales, selling 10,618 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ENSG Hedge Fund Activity
We have seen 232 institutional investors add shares of $ENSG stock to their portfolio, and 204 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 1,919,591 shares (-21.3%) from their portfolio in Q3 2024
- BAILLIE GIFFORD & CO added 1,055,677 shares (+inf%) to their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. removed 928,791 shares (-40.6%) from their portfolio in Q3 2024
- WASATCH ADVISORS LP removed 726,573 shares (-17.9%) from their portfolio in Q3 2024
- FMR LLC added 593,779 shares (+42.3%) to their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC added 395,753 shares (+177.5%) to their portfolio in Q3 2024
- JANE STREET GROUP, LLC added 322,865 shares (+618.3%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN JUAN CAPISTRANO, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign
TM
group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that it acquired the operations of the following skilled nursing facilities in Tennessee and Alabama:
Meadowbrook Healthcare and Rehabilitation Center
, 83-bed skilled nursing facility located in Pulaski, Tennessee;
Wellpark Health and Rehabilitation
, a 30-bed skilled nursing facility located in Knoxville, Tennessee;
Legacy Park Health and Rehabilitation
, a 176-bed skilled nursing facility located in Knoxville, Tennessee;
VanAyer Senior Living and Rehabilitation
, a 91-bed skilled nursing facility located in Martin, Tennessee;
Union City Health and Rehabilitation
, a 115-bed skilled nursing facility located in Union City, Tennessee;
Decatur County Healthcare
, a 125-bed skilled nursing facility located in Parsons, Tennessee;
Savannah Nursing and Rehabilitation
, a 120-bed skilled nursing facility located in Savannah, Tennessee;
Westwood Nursing and Rehabilitation
, a 90-bed skilled nursing facility located in Decaturville, Tennessee; and
The Health Center at Research Park
, a 91-bed skilled nursing facility located in Huntsville, Alabama.
As previously reported, six of these operations are jointly owned by CareTrust REIT, Inc. (NYSE: CTRE, “CareTrust”) and a joint venture investor and are subject to a new, long-term triple net master lease with Ensign affiliated operating companies effective January 1, 2025. The remaining three operations were purchased by Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate subsidiary effective December 31, 2024. All nine operations are operated by Ensign affiliated operating companies.
Barry Port, Ensign’s Chief Executive officer commented, “We couldn’t be happier to see this deal completed. This acquisition provided an extraordinary opportunity for us to grow our presence in Tennessee and start a new footprint in Alabama. Our local leadership team has been working nonstop to prepare for this acquisition and I am thrilled to see their hard work pay off. We expect that these operations will become significant contributors to the success of their clusters and our organization as a whole.”
Tyler Albrechtsen, Director of Rocky Top Healthcare LLC, and Southstone Healthcare LLC, Ensign’s Tennessee and Alabama based subsidiaries added, “We are so excited to add these operations and the local caregivers to our team. We have been incredibly impressed with everyone we have met and are looking forward to serving the residents and families at these amazing facilities.”
Ensign’s growing portfolio consists of 333 healthcare operations, 30 of which also include senior living operations, across 15 states. Ensign subsidiaries, including Standard Bearer, own 129 real estate assets, 96 of which it operates. Mr. Port reaffirmed that the organization is actively seeking several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.
About Ensign(TM)
The Ensign Group, Inc.'s independent subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 333 healthcare facilities in Alabama, Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. As part of its investment strategy, the Company will also acquire, lease and own healthcare real estate to service the post-acute care continuum through acquisition and investment opportunities in healthcare properties. Ensign’s new business venture operating subsidiaries also offer several other post-acute-related services, including mobile x-ray, emergency and non-emergency transportation services, long-term care pharmacy and other consulting services also across several states. More information about Ensign is available at
http://www.ensigngroup.net
.
About CareTrust
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at
www.caretrustreit.com
.
Contact Information
The Ensign Group, Inc., (949) 487-9500, ir@ensigngroup.net
SOURCE: The Ensign Group, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
