The Ensign Group, Inc. (ENSG - Free Report) has acquired the operations of Downey Care Center, a skilled nursing facility with 99 skilled nursing beds situated in Downey, CA. The transaction was effective Mar 1, 2019.
With the help of this deal, Ensign Group would be able to expand in Southern California. The combined expertise of both companies is expected to boost the standard of care for the residents, families and the local healthcare community. Ensign Group would gain from the acquired company’s experienced team.
With this buyout, the company will have a total of 190 skilled facilities.
Ensign Group has been consistently endeavoring to purchase real estate and lease out properly functioning as well as struggling skilled nursing, assisted living and other healthcare related businesses in the United States.
The company boasts a strong inorganic growth story with several acquisitions in the past decade. Its historical growth has been mainly driven by its proficiency in acquiring real estate or leasing post-acute care operations and transforming the same into market leaders. With each buyout, the company has honed its skill, both clinically and financially.
Recently, the company also bought the real estate and operations of Creekside Transitional Care and Rehabilitation, Alpha Nursing, Cornerstone Home Health and Hospice in Utah plus Sequoia Hospice in California, Legend, etc. All these buyouts bode well for the company’s overall growth.
Shares of this Zacks Rank #1 (Strong Buy) company have soared nearly 82% in a year’s time, outperforming its industry’s growth of 20.2%.
Other Stocks to Consider
Investors interested in the medical sector can also take a look at some other top-ranked stocks like UnitedHealth Group Incorporated (UNH - Free Report) , Centene Corporation (CNC - Free Report) and WellCare Health Plans, Inc. (WCG - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
UnitedHealth operates as a diversified health care company in the United States. In the last four reported quarters, the company delivered average beat of 3.39%.
Centene operates as a diversified and multi-national healthcare enterprise in the United States. It came up with average earnings surprise of 4.99% in the trailing four reported quarters.
WellCare Health offers managed care services to government-sponsored health care programs. The company pulled off average positive surprise of 15.43% in the preceding four reported quarters.
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