The Ensign Group Acquires 230-Bed Skilled Nursing, Rehabilitation Center
By Balazs Szekely, Associate Editor
Formerly known as Kindred Transitional Care Northwest, Casas Adobes Post-Acute Rehabilitation Center has a new owner, a recent trade publication reports. The Ensign Group acquired the 230-bed skilled nursing facility located at the corner of Orange Grove and Corona roads, adjacent to Northwest Hospital Medical Plaza in Tucson.
The Ensign Group Inc. is the parent company of the Ensign group of skilled nursing, rehabilitative care services, home health care, hospice care, assisted living and urgent care companies. Its independent operating subsidiaries provide physical, occupational and speech therapies, home health and hospice services, urgent care services and other rehabilitative and healthcare services in eleven states throughout the western and mid-western US.
The new owners expect Casas Adobes Post-Acute, with an occupancy rate of around 43 percent, to be mildly accretive to earnings in 2014. The transaction was effective Thursday, May 1 and Ensign purchased the facility with cash, according to the announcement. This acquisition marks Ensign’s 121st addition to its portfolio of healthcare facilities and the 16th in the row of its Arizona operations. One of these, Horizon Post-Acute and Rehabilitation Center in Glendale was purchased earlier this year. Horizon Post-Acute and Casas Adobes Post-Acute will remain with Ensign after separating its real estate business from the healthcare operations.
John Albrechtsen, President of Bandera, Ensign’s Arizona-based portfolio subsidiary said Ensign is actively seeking opportunities to acquire or lease similar assets across the United States. “We are proud to be joining a wonderful team of caregivers as we seek to reinforce and strengthen the caring, patient-centered environment they have created here,” he added.
Photo credits: Google MapsTags: acquisition, Acquisitions/Dispositions, Assisted Living, Brokers, Casas Adobes, Casas Adobes Post-Acute Rehabilitation Center, economy, Finance/Investment, Health Care, Horizon Post-Acute and Rehabilitation Center, Investors, John Albrechtsen, Kindred Transitional Care Northwest, Local, National, Regional, skilled nursing, The Ensign Group, Tucson, Tucson Lead Story