The Ensign Group completed the spin-off of The Pennant Group.

The Ensign Group, the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care, senior living and other post-acute related companies, completed the spin-off of The Pennant Group. In the spin-off, Ensign stockholders received one share of Pennant common stock for every two shares of Ensign common stock held at the close of business on September 20, 2019. “We are thrilled to complete the spin-off of Pennant and couldn’t be more optimistic about their future and the future of Ensign. This is the second spin-off we have completed in the last 5 years and believe that this transaction, much like the spin-off of CareTrust REIT in 2014, will be a great long-term benefit to our many stakeholders. Our guiding principle in this transaction has always been to make sure both Ensign and Pennant would not only be very healthy in terms of their balance sheets, but that both would be poised to drive the enormous organic growth potential within all our respective operations while having enough dry powder to continue acquiring and transforming underperforming healthcare operations.” ,” Ensign’s Executive Chairman, Christopher Christensen.