Ensign Makes 2 BuysMonday, January 7, 2013
Mission Viejo-based Ensign Group Inc. said it has acquired a home healthcare provider and a hospice operator in separate deals.
The company—which owns and operates nursing homes in addition to home healthcare businesses and hospices—acquired Puget Sound Home Health, a home healthcare provider based in Tacoma, Wash. Puget Sound Home Health will operate as part of Ensign subsidiary Paragon Healthcare, Inc.
The second deal brings Emblem Hospice—a unit of Clive, Iowa-based Saint Jude Healthcare LLC—to the Ensign portfolio. Emblem Hospice includes operations in Pasadena as well as Mesa, Arizona. The acquired operations will be part of Ensign subsidiary Cornerstone Healthcare, Inc.
Ensign said both acquisitions were made with cash, but did not disclose prices.
The company’s portfolio is now spread over 11 states and includes 108 healthcare facilities, six hospice companies and seven home health businesses.
Ensign’s shares were steady in early trading today, at $27.74 for a market value of about $598 million.