Home Health and Hospice
(SOLD)
Value: Greater then $3,000,000
by IBR Staff
Published: May 3,2010
Time posted: 7:38 am
The Ensign Group, Inc. completed the purchase of the operating assets of Horizon Home Health and Hospice, a well-regarded home health and hospice agency based in Meridian, on May 1.
Founded in 1993 by Marcie Little, a fixture in Southwestern Idaho’s healthcare community, Horizon will be led by CEO Daniel Walker, a longtime Ensign leader and a fellow native-Idahoan whom Ms. Little has hand-picked as her successor.
This strategic acquisition broadens Ensign’s reach into the home health and hospice business, and further solidifies Ensign’s presence in Idaho, Ensign CEO Christopher Christensen stated. He added that he expects the transaction to be mildly accretive to earnings in 2010.
According to a release, Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling long-term care operations across the Western United States.
Recent acquisitions bring Ensign’s growing portfolio to 81 healthcare facilities, 51 of which are Ensign-owned, two hospice businesses and one home health business. Ensign affiliates hold purchase options on eight of the 30 leased facilities.
While the purchase was made with cash, there was no mention of the price. The Horizon purchase was effective May 1, 2010.
The Bristol Group acted as intermediary on the transaction. "This is a strategic acquisition for the Ensign Group and a perfect match for Horizon," said Kelly Shaw, the principal broker for the Bristol Group. "The employees and clients of Horizon will greatly benefit from this transaction."
About Ensign™
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, and other rehabilitative and healthcare services for both long-term residents and short-stay rehabilitation patients at 81 facilities, two hospice companies and a home health business in California, Arizona, Texas, Washington, Utah, Idaho and Colorado. More information about Ensign is available at www.ensigngroup.net
About Bristol Group
The Bristol Group is one of the most trusted Business Brokerage and Merger & Acquisition firms in the Pacific Northwest. Our business brokers represent the interest of our clients as exclusive agents and guide them through the complex process of selling or buying a business. Our team has more than 30 years of experience structuring transactions for business owners, individual buyers, private equity groups, and corporate acquirers.
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