In 1999 a small group founded The Ensign Group with the vision "to dignify long-term care in the eyes of the world." They sacrificed much to bring their vision to pass -- living off of personal savings and credit cards for many months until earnings from their first skilled nursing acquisitions began to trickle in. From those humble beginings, Ensign has written an impressive growth story during a period of change, headwinds, and uncertainty. As of May 1, 2014, Ensign owned, leased, or operated 122 skilled nursing, assisted living, and independent living facilities, 11 home health and 9 hospice agencies, 13 urgent care clinics, and a mobile diagnostics company in 11 states west of the Mississippi.
CareTrust REIT was formed on June 1 through a tax-free REIT spin-off of 97 Ensign-owned properties.
We are operators at heart and bring the lessons we learned along the way from being a small operator to one of the country's most successful, publicly traded, multi-state operators. That history shapes our approach today. We are looking to be that partner that Ensign needed to grow early on. For us, of course the real estate matters. But, we also know just how vital the operator is to the value of that real estate.