The Ensign Group, Inc., the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care and assisted living companies, announced today that it has added The Springs to its growing portfolio of healthcare facilities. The Springs is a 59-bed Medicare only skilled nursing facility located in a prestigious section of San Diego County. As of October 1st when the asset acquisition became effective, the well-performing nursing facility had an occupancy rate of about 72 percent. The purchase was done with cash by an Ensign holding subsidiary.
The Springs at Pacific Regent La Jolla is one piece of a larger retirement community that not only includes the upscale senior independent living condominiums at the Pacific Regent Tower, but also includes an undeveloped one-acre parcel that could be used for a second 21-story residential tower.
“This is a strategic acquisition that adds to our growing portfolio in the important San Diego County market,” said Covey Christensen, President of Ensign’s Southern California-based Flagstone Group, a subsidiary of which will operate The Springs, in a press release on Thursday. “We are especially pleased to be joining La Jolla’s vibrant and well-regarded healthcare community,” he added.
This acquisition brings Ensign’s total outlets to 100 healthcare facilities, three hospice companies and three home health businesses in 10 states. Ensign management confirmed that the company is actively seeking additional opportunities to acquire both well-performing and struggling long-term care operations across the United States
More information about Ensign is available at www.ensigngroup.net
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