PACS To Expand Footprint with 53-Facility Portfolio, Adding Nursing Homes in 8 States, ‘Substantially Surpassing’ Forecast

PACS Group (NYSE: PACS) plans to acquire the operations of 53 skilled nursing facilities as well as assisted and independent living facilities located across eight states, including five new markets for the company. The facilities in the pending deal are currently operated by family-owned Prestige and comprise 2,511 skilled nursing beds and 1,334 assisted living […]

PACS CEO: In Tough Landscape for Nursing Homes, Empowering Local Leaders, Serving Higher Acuity, Avoiding ‘Wrong Capital’ Is Crucial

Scaling up by empowering regional operators has long been a successful strategy for nursing home giant PACS Group (NYSE: PACS), but this growth hasn’t come at the expense of losing its identity nor by over-leveraging itself using high-interest debt, according to CEO Jason Murray. For PACS, which debuted on Wall Street in April, its steady […]

Touting Local Care, Robust Pipeline, Nursing Home Giant PACS Group Shines in Q1 After IPO Debut

During its inaugural earnings call following an April debut on Wall Street, executives for PACS Group (NYSE: PACS) projected a strong year of growth ahead amid a robust pipeline as they touted the success of their company’s localized business model – one that has enabled it to successfully transform scores of struggling facilities into high […]

LTC100 Panelists Weigh in on CMS Staffing Rule’s ‘Bloodbath’, Growth Strategies, and Risk-Based Model Reimbursement

If there’s no additional funding for the minimum staffing rule, well over 5% of existing facilities will close, depending on how successfully operators can pivot to meet the standard. The rates of closure may even reach 10% to 15%, depending on the market, cautioned sector leaders attending the LTC100 conference this week. Steve Nee, CEO […]

[UPDATED] Skilled Nursing Giant PACS Group Files for IPO as It Looks to Expand Footprint

PACS Group filed for an initial public offering with the Securities and Exchange Commission (SEC) on Wednesday, citing focus on growth plans in its filing. “As we continue to grow, we intend to explore additional purchases of real-estate assets, through purchase options or right-of-first refusals in existing leases, as well as acquisitions and de novo […]

With PACS as Partner, CareTrust Acquires 3 Skilled Nursing Facilities in Texas, Missouri for $55M

CareTrust REIT (NYSE: CTRE) announced Wednesday the acquisition of three skilled nursing facilities for approximately $55.6 million across Texas and Missouri.  The portfolio consists of 210 skilled nursing beds and 24 assisted living units, and will be added to CareTrust’s existing master lease with affiliates of PACS Group, which have been operating the facilities for […]

PACS Starts Next Chapter With New Leaders, 200-Plus Facility Footprint

Following significant leadership changes recently at PACS Group, new initiatives are afoot at the nursing home giant as it continues to expand its footprint. To discuss these endeavors, Skilled Nursing News sat down with the new leadership at PACS, whose affiliates operate more than 200 facilities in nine states – 58 of these acquired in […]