The Ensign Group, Inc. (Nasdaq: ENSG), announced today that it has acquired the underlying real estate and other operating assets of Orem Rehabilitation & Nursing Center, a 108-bed skilled nursing facility in Orem, Utah. An Ensign subsidiary has been operating the facility since May of 2008 under a lease that did not include a purchase option. The acquisition was effective December 22, 2011.
"With this fortuitous addition to our real estate portfolio we now own 75% of the facilities operated under the Ensign banner," said Christopher Christensen, Ensign's President and Chief Executive Officer. He stated that the purchase further demonstrates Ensign's deep and long-term commitment to the Utah County healthcare community. Noting that Orem Rehabilitation & Nursing Center was voted "Best of Utah Valley," in 2010, he added that he expects the recently-renovated and expanded facility to continue to build on the outstanding reputation developed by its dedicated therapists and caregivers.
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