The Ensign Group expanded its presence in the Lone Star State on Thursday by adding four senior living communities to its portfolio, the company announced during its third-quarter earnings call on the same day.
Ensign also announced that total revenue for its assisted living services segment in the quarter was up 7.3% to $38.1 million, and assisted living services segment income was up 9% to $4.7 million. Both revenue and income increased over the prior-year quarter.
The new communities in the portfolio were acquired through Bridgestone Living, Ensign’s assisted living, memory care and independent living portfolio company. They include:
- Bridgewater Memory Care, a 52-unit memory care community in Granbury, TX.
- Canyon Creek Memory Care, a 52-unit memory care community in Temple, TX.
- Lakeshore Assisted Living and Memory Care, a 46-unit assisted living and 30-unit memory care community in Rockwall, TX.
- Windsor Court Senior Living, a Weatherford, TX, retirement community with 36 independent living units, 16 memory care units and seven assisted living units.
“As is the case with all of our acquisition efforts, we pursued these operations because our local leaders see a pathway to meaningfully impact the quality of the healthcare services delivered to their residents and resulting occupancy improvements,” Ensign President and CEO said Christopher Christensen said in a statement.
The communities had an average occupancy rate of approximately 84% at the time of acquisition, according to Ensign.
Christensen said the company continues to see opportunities for growth in the Dallas–Fort Worth metropolitan area. The latest senior living acquisitions follow other Ensign purchases in Texas this year.
Bridgestone acquired Cedar Hills Senior Living, a 37-unit assisted living community in Cedar Hill, TX, and Deer Creek Senior Living, a 37-unit assisted living community in DeSoto, TX, in the first quarter.
In another previously announced transaction that became effective May 1, Keystone Care, the company’s Texas-based portfolio company, acquired the real estate and operations of Grace Presbyterian Village in Dallas. The 26-acre continuing care retirement community formerly was operated by Presbyterian Communities and Services and now is known as The Villages of Dallas.
Ensign’s portfolio now includes 188 skilled nursing operations, 24 of which also include assisted living; 56 assisted and independent living communities; 21 hospice agencies; 22 home health agencies; and six home care businesses across sixteen states.
Those totals include separate transactions also announced Thursday. In those deals, Ensign acquired through subsidiaries Rock Creek of Ottawa, a retirement community in Kansas, as well as two skilled nursing facilities in Idaho. Read more about Ensign’s skilled nursing performance and acquisitions from our sister publication, McKnight’s Long-Term Care News.
