The Ensign Group Inc. has bought a 59-bed Medicare-only, managed-care-only skilled nursing facility.
Ensign, La Jolla, Calif., acquired The Springs at Pacific Regent La Jolla, which is in San Diego’s La Jolla village area.
Ensign has been expanding the list of facilities it owns in the San Diego County market, and it now owns a total of 100 health care facilities, 3 hospice companies and 3 home health businesses in 10 states, the company says.
The Springs and sister facilities have been focusing on post-acute care needs, according to Ed McCarthy, the facility’s executive director.
The Springs is part of a retirement community that includes Pacific Regent Tower, a 21-story independent living condominium project aimed at adults 55 years old and older.
Along with The Springs, Ensign is getting an undeveloped one-acre parcel adjacent to the facility that has received conditional approval for a second 21-story residential tower.
Ensign is not yet sure what it will do with the parcel, the company says.
The Springs was doing well and had a 72% occupancy rate when it was acquired, Ensign says.
Ensign is not saying how much it paid for The Springs, but it notes that it bought the facility with cash and that it is looking for more opportunities to buy “well-performing and struggling long-term care operations across the United States.”