June 10, 2019
MISSION VIEJO, CA–The Ensign Group, Inc. (NASDAQ: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies, announced that a subsidiary of Cornerstone Healthcare, Inc., Ensign’s home health and hospice portfolio subsidiary, acquired the assets of Preceptor Health Care, which provides home health, hospice, and therapy services in eastern Wisconsin. The acquisition was effective June 1, 2019.
“This strategic acquisition allows Cornerstone to partner with Ensign’s skilled nursing and senior living facilities in the area,” said Christopher Christensen, Ensign’s President and Chief Executive Officer. “Providing this full range of services,” Christensen continued, “gives us a unique opportunity to improve outcomes and reduce rehospitalization rates for those patients who entrust us with their care.”
“Preceptor has a deeply committed team that has set a high standard for providing exceptional home health, hospice, and therapy services in eastern Wisconsin,” said Daniel Walker, Cornerstone’s President and Chief Executive Officer. “We are pleased to continue and seek to enhance the strong community partnerships with hospitals, physician groups, skilled nursing facilities and senior living communities, including some of our own Ensign affiliates, as we seek to provide life changing service to patients across eastern Wisconsin.”
In a separate transaction on the same day, Ensign announced that it acquired the real estate and operations of Golden Palms Rehabilitation and Retirement, a 60-bed skilled nursing operation and a senior living center with 38 assisted living beds and 92 independent living units. This acquisition was also effective June 1, 2019.
These acquisitions bring Ensign’s growing portfolio to 198 skilled nursing operations, 27 of which also include assisted living operations, 56 assisted and independent living operations, 27 hospice agencies, 26 home health agencies and nine home care businesses across sixteen states. Ensign owns the real estate at 77 of its 254 healthcare operations.
Walker reaffirmed that Cornerstone is actively seeking additional opportunities to acquire both strategic and underperforming home health, hospice, and home care operations across the United States.