Due to financial struggles and a caregiver shortage, Providence nursing home sales in Anchorage will transfer three facilities to the Ensign Group. Providence, Alaska’s largest healthcare provider, confirmed the sale as part of a 10-facility deal spanning multiple states, including Oregon, Washington, and California.
The California-based Ensign Group, founded in 1999, operates 327 skilled nursing and senior living facilities across 15 states. Ensign announced the acquisition in December, but neither company disclosed the financial terms.
Providence Extended Care and Providence Transitional Care Center in northeast Anchorage, as well as Providence Horizon House in Midtown, are among the Anchorage facilities changing ownership.
Providence stated that the sale would help maintain essential services as nursing homes nationwide struggle with workforce shortages, inflation, and stagnant reimbursement rates. Since COVID-19 began, more than 770 nursing homes have closed across the US due to financial and staffing challenges.
Rising costs for pharmaceuticals, medical supplies, and equipment have further strained operations, making it difficult for providers to sustain services. Providence emphasized that it will carefully select Ensign for the acquisition, noting its long-standing commitment to skilled nursing and senior care.
In its 25 years of operation, Ensign has never sold a skilled nursing or assisted living facility. Additionally, nearly half of Ensign’s patients receive Medicaid coverage, reflecting its dedication to serving vulnerable populations.
The three Anchorage facilities currently house 225 residents and employ 328 caregivers. As part of the transition, Ensign will offer jobs to existing staff without requiring them to reapply. This move aims to ensure continuity of care and minimize disruptions for patients and employees. The Providence nursing home sale is expected to close in March, pending regulatory approval.
This news article was originally published by Anchorage Daily News.
