TUCSON, ARIZONA -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ 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 that it acquired the real estate and operations of Villa Maria Post Acute and Rehabilitation, a 65-bed skilled nursing facility, Villa Maria Wellness Living, a 35-bed assisted living facility and Tucson Recovery at Villa Maria, a 30-bed behavioral health unit, each located in Tucson, Arizona. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company.
The asset sold for $8 million, or $123,077 per bed and was effective July 1, 2022.
“We are very excited to add this community to the Tucson market, where we have carefully looked for growth opportunity for some time,” said Barry Port, Ensign's Chief Executive Officer. “As always, we are also very pleased this opportunity included real estate to add to Standard Bearer’s growing portfolio,” he added.
Forrest Peterson, President of Bandera Healthcare, LLC, Ensign’s Arizona-based subsidiary, added, “We are very impressed with the caregivers in this community and feel our leaders are poised to add our experience to theirs as we seek to provide top-notch care to the residents we are fortunate to serve.”
The acquisition was effective July 1, 2022 and brings Ensign's growing portfolio to 258 healthcare operations, 26 of which also include senior living operations, across thirteen states. Ensign subsidiaries, including Standard Bearer, now owns 105 real estate assets.
Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses throughout the United States.
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 258 healthcare facilities, in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Texas, Utah, Washington and Wisconsin.
To learn more, see RED Comp #9975.