61 F
Laguna Hills
Friday, May 23, 2025
-Advertisement-

Ensign Group Acquires 20 Facilities in California

The Ensign Group, Inc. (Nasdaq: ENSG), a San Juan Capistrano provider of senior living services, said it’s agreed to acquire 20 skilled nursing operations in California from Irvine-based Sabra Health Care REIT (Nasdaq: SBRA).

The facilities will transition to Ensign-affiliated operating companies subject to a new, long-term triple-net master lease. The sale price wasn’t disclosed.

“These California operations are a perfect fit with our existing footprint in some of our strongest and most mature markets,” Ensign Chief Executive Barry Port said in a statement. “While this transaction is larger than our typical tuck-ins, our locally-driven approach to acquisitions allows us to rely on our many CEO-caliber leaders in these markets to direct the transitions of each operation in the same way we execute on a one-or two-building acquisition.”

Sabra CEO Rick Matros said the sale will “substantially” improve its credit profile.

The transition of these facilities is expected to be completed by Feb. 1. After closing, Ensign’s portfolio will consist of 286 healthcare operations, 3 subleases and 108 owned real estate assets.

After the announcement, Sabra shares rose 2.4% to $14.07 in after-hours trading. It has a $3.2 billion market cap.

Shares of Ensign were unchanged in after-hours trading at $92.01 and a $5.1 billion market cap.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-