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Tuesday, Dec 6, 2022
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Ensign Group Makes 2 Acquisitions

Mission Viejo’s the Ensign Group Inc. (Nasdaq: ENSG), today bought two healthcare facilities in the Dallas and Phoenix areas.

It acquired the real estate and operations of Rockbrook Memory Care, a 52-unit memory care community in Lewisville, Texas.

Ensign said the care center was underperforming with an average occupancy rate of approximately 40% at the time of acquisition.

It also bought Phoenix Mountain Post Acute, a 130-bed skilled nursing facility from Bandera Healthcare Inc.

Terms of the acquisitions weren’t disclosed.

Separately, CareTrust REIT Inc. (Nasdaq: CTRE), a San Clemente-based owner of healthcare facilities, said it completed a previously disclosed $211 million multi-asset acquisition.

The transaction grows CareTrust’s existing real estate holdings by 12 properties with 1,734 beds or units and adds over $19 million in annual revenue.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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