The Ensign Group, Inc. (NASDAQ:ENSG) Q1 2023 Earnings Conference Call April 27, 2023 1:00 PM ET

Company Participants

Chad Keetch - CIO, EVP and Secretary

Barry Port - President, CEO and Director

Spencer Burton - President and COO

Suzanne Snapper - CFO, EVP and Director

Conference Call Participants

Scott Fidel - Stephens

Benjamin Hendrix - RBC Capital Markets

Operator

Good day, and thank you for standing by. Welcome to The Ensign Group Inc. Q1 2023 Earnings Conference Call [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Mr. Keetch. Please go ahead.

Chad Keetch

Thank you, Gigi, and welcome, everyone. We filed our earnings press release yesterday, and it is available on the Investor Relations section of our website at the ensigngroup.net. A replay of this call will also be available on our website at 5:00 p.m. Pacific on Friday, May 26, 2023. We want to remind any listeners that may be listening to a replay of this call that all statements made are as of today, April 27, 2023, and these statements have not been nor will be updated subsequent to today's call.

Also, any forward-looking statements made today are based on management's current expectations, assumptions and beliefs about our business and the environment in which we operate. These statements are subject to risks and uncertainties that could cause our actual results to materially differ from those expressed or implied on today's call. Listeners should not place undue reliance on forward-looking statements and are encouraged to review our SEC filings for a more complete discussion of factors that could impact our results. Except as required by federal securities laws, Ensign and its affiliates do not undertake to publicly update or revise any forward-looking statements where changes arise as a result of new information, future events, changing circumstances or for any other reason.

In addition, The Ensign Group, Inc. is a holding company with no direct operating assets, employees or revenues. Certain of our wholly owned independent subsidiaries, collectively referred to as the service center, provide accounting, payroll, human resources, information technology, legal, risk management and other services to the other operating subsidiaries through contractual relationships with such subsidiaries.

In addition, our wholly owned captive insurance subsidiary, which we refer to as the insurance captive, provides certain claims made coverage to our operating companies for general and professional liability as well as for workers' compensation insurance liabilities. Ensign also owns Standard Bearer Healthcare REIT, Inc., which is a captive real estate investment trust that invests in health care properties and enters into lease arrangements with certain independent subsidiaries of Ensign as well as third-party tenants that are unaffiliated with The Ensign Group. The words Ensign company, we, our and us refer to The Ensign Group, Inc. and its consolidated subsidiaries. All of our operating subsidiaries, the Service Center, Standard Bearer Healthcare REIT Inc. and the insurance captive are operated by separate wholly owned independent companies that have their own management, employees and assets.