The Ensign Group (Nasdaq: ENSG) acquired the operations of the seven skilled nursing facilities (SNFs) in Colorado totaling 760 beds, along with a 102-bed SNF in Kansas, the company announced Tuesday.

“We are thrilled to continue our recent expansion in Colorado,” said CEO Barry Port in a press release. “These operations are a perfect fit within our existing footprint in the state.”

Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.

Dave Jorgensen, president of Endura Healthcare, Ensign’s Colorado-based subsidiary, said, “Our team is so excited to add these operations. We can’t wait to add our experience and culture to these facilities.”

Average July occupancy for the acquired Colorado and Kansas facilities is approximately 72.3% and 80.6%, respectively, according to Stephens Inc.’s estimates, which utilize Centers for Medicare & Medicaid (CMS) data.

The July occupancy at the acquired Colorado facilities is well below Ensign’s state average of approximately 85.3% and overall state average of about 75.8%, Stephen’s research indicates.

Meanwhile, the occupancy at the Kansas facility is below Ensign’s state average of around 88.0%, but above state industry average of about 79.9%.

Last month, Ensign added 334 SNF beds through acquisitions in Colorado and Iowa. This brings the total beds added through the third quarter of 2024 to 1,196 beds.

Ensign’s growing footprint has surpassed analyst expectations.

“Notably, with plus 2,502 SNF beds added year to date, [Ensign] is already pacing ahead of our full-year 2024 forecast of plus 2,266 bed adds,” noted Scott Fidel, analyst at Stephens Inc.

These acquisitions bring Ensign’s growing portfolio to 323 health care operations, 29 of which also include senior living operations, across fourteen states.

Ensign subsidiaries, including Standard Bearer, own 122 real estate assets.

Ensign’s independent operating subsidiaries provide skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin.

These acquisitions were effective as of September 1, 2024, and are subject to long-term, triple net leases.