Leadership

We were operators first. We know running a successful senior care facility takes laser-focused vision on superior patient care, and the ability to deliver on it.

Executive Officers

Our Executive Team knows first-hand what it takes to provide superior healthcare services and facilities for the senior community. We understand that this laser focus on best-in-class care is essential for an operator to achieve healthy growth.

Greg Stapley

Greg Stapley

President and Chief Executive Officer

Bill Wagner

Bill Wagner

Chief Financial Officer

Dave Sedgwick

Dave Sedgwick

Vice President, Operations

Mark Lamb

Mark Lamb

Director of Investments

Board of Directors

CareTrust’s Board of Directors each brings deep expertise in healthcare, real estate, investing, accounting, and business development.

Greg Stapley

President and Chief Executive Officer of CareTrust REIT

David Lindahl

Partner and Managing Director of HPSI, Inc.

Jon Kline

Founder and President of Clearview Hotel Capital, LLC

Allen Barbieri

Chairman and Chief Executive Officer of Biosynthetic Technologies, LLC

Spencer Plumb

President and Chief Executive Officer of Sabin Holdings, LLC

Our Story

As former healthcare facility operators, our deep industry roots, experience and relationships distinguish us in our ability to navigate the intricacies, challenges, and opportunities for investment. The lessons we’ve learned from the inside shape our operator-centric approach because we understand more intimately what operators really need in order to provide best-in-class care, and how to set them up for long-term success.

Our timeline starts with very humble beginnings in 1999 when a small group with a big vision founded The Ensign Group “to dignify long-term care in the eyes of the world.” CareTrust was later formed in 2014 through a tax-free REIT spin-off of 97 Ensign-owned properties.

1999

1999

The Ensign Group (a post-acute care operator) is co-founded by industry veteran Roy Christensen and partners Dick Toolson, Christopher Christensen and Greg Stapley, with less than $35,000 in start-up capital.

2000

Ensign receives a capital infusion of $2.3 million from a small group of private investors with long-term investment horizons, in exchange for 16% of the growing company.

Founders and employees retain 84% of ownership, ensuring that Ensign’s unique vision and approach to care will have a long term to prove itself.

2006-2006

Ensign continues to grow via acquisitions using a combination of lease financing, mortgage debt and cash flow from operations to acquire “turnaround” facilities.

The company’s first un-leveraged acquisition comes in mid-2004, when Ensign purchases North Mountain Care Center in Phoenix, Arizona from the John C. Lincoln hospital system for $6.5 million in cash.

2007

2007

Ensign goes public with a $67 million initial public offering in early November. It is one of the last successful IPOs before the Recession.

The company grows to 61 facilities with over $400,000 in annual revenue.

2013

Ensign announces that it will separate its real estate from its operating business in a tax-free spin-off, creating CareTrust REIT.

2014

2014

On June 1st, CareTrust REIT launches as a separate and independent real estate investment trust, financed with a successful $260 million bond offering and a $150 million secured term revolving credit line. CareTrust leaves its entire acquisition pipeline behind at Ensign.

Moody’s rates CareTrust a B2, and Standard & Poor’s issue a B rating on the company. Initial rental revenue is 100% from Ensign.

2014

In November, CareTrust closes its first acquisition as a standalone company, acquiring an assisted living portfolio in Idaho that is leased to Cross Healthcare.

CareTrust deploys $43 million in investment capital by year-end.

2015

In August, CareTrust successfully runs its first secondary offering, a $175 million equity raise. CareTrust’s first foray into the equity markets follows its successful conversion of its $150 million secured term revolver to a $300 million unsecured line.

2015

CareTrust acquires a 14-facility, $175 million portfolio in Ohio, and leases the assets to Pristine Senior Living, led by industry veterans Chris and Marla Cook. Capital deployment for 2015 reaches $232 million.

2016

2016

CareTrust upsizes its revolver to $400 million, runs two additional equity offerings raising over $190 million, and deploys over $285 million in its second full year as a standalone company.

Moody’s and Standard & Poor’s upgrade their credit ratings on the company to B1 and B+ respectively. With the company’s growth, revenue from the original Ensign master leases drops to 52% of run-rate revenue by year-end.

© CareTrust REIT 2017 | All Rights Reserved.

All logos and trademarks are the property of their respective owners.

Privacy Policy