Rexburg Care Center is a 5-Star CMS rated skilled nursing facility situated adjacent to Brigham Young University-Idaho and less than one and a half miles from the nearest regional hospital. With only one local competitor and the facility’s participation in the state’s Upper Payment Limit (UPL) supplemental payment program, Rexburg Care Center produced positive and increasing cash flow year-over-year, however, census remained at relatively low levels compared to industry averages.
Blueprint positioned this as a unique upside opportunity as only half of the facility’s operational capacity was being utilized, allowing for the potential introduction of lower acuity and/or specialty care services to boost overall census. The process generated multiple competitive offers to acquire the facility. The seller and Blueprint selected The Ensign Group, Inc. as the buyer for its expanding footprint in the region.
“We are excited about our continued growth in Idaho, a market where we have become a leading provider of post-acute care,” said Barry Port, Ensign’s Chief Executive Officer. He added, “We are particularly thrilled to add this building, which has been familiar to our leaders for a number of years.”
The facility will be operated by Pennant Healthcare, Inc., Ensign’s portfolio company based in the Pacific Northwest. Blueprint worked closely with both operators to facilitate an efficient transition and a timely closing on behalf of the seller.
The sale was facilitated by Christopher Hyldahl, Ben Firestone, Gideon Orion, and Michael Segal.