PACS Group (NYSE: PACS) announced on Tuesday that it has finalized the acquisition of 53 skilled nursing, assisted living, and independent living facilities from Prestige Care. This strategic move allows PACS to expand its proven care model into new regions, including the Pacific Northwest and five new states: Alaska, Idaho, Montana, Oregon, and Washington. With this acquisition, PACS Group is also enhancing its Senior Living division, increasing its senior living portfolio from 16 to 37 communities.
PACS Group's Strategic Expansion into the Pacific Northwest
PACS Group's entry into the Pacific Northwest represents a significant expansion of its operations. "PACS is committed to growing as a legacy company," said Jason Murray, PACS' Chairman and CEO. "Our aim is to expand our presence as a leader in post-acute care and serve more people through our focus on their care, well-being, and quality of life." This strategic acquisition extends PACS' reach into eight western states with a total of 2,511 skilled nursing beds and 1,334 assisted living and independent living units.
New Geographic Footprint for PACS Group
The newly acquired skilled nursing facilities include 21 in Oregon, 19 in Washington, six in Idaho, three in Nevada, and one facility each in Alaska, Arizona, California, and Montana. By venturing into these states, PACS Group is bringing its mission-driven approach to a broader audience, ensuring high-quality care for seniors and those in need of skilled nursing services.
Commitment to Quality Care and Local Empowerment
"We saw this as a valuable opportunity to bring our mission-driven approach to more residents, professionals, and communities—especially because of the cultural alignment between PACS and Prestige, as well as the post-acute and senior living landscapes in these markets," said Josh Jergensen, PACS' President and COO. PACS emphasizes its commitment to empowering local leaders and staff who understand their residents and communities best. By supporting these local teams with additional resources, PACS aims to elevate the standard of healthcare in these newly acquired facilities.
Seamless Integration and Continuity of Care
PACS Group's executive team, along with its operations and human resources departments, have worked closely with Prestige Care's leadership to ensure a smooth transition. This careful collaboration aims to protect and maintain high standards of care and operations without disruption.
About PACS Group
Founded in 2013, PACS Group is a leading holding company in the post-acute healthcare sector, investing in skilled nursing facilities, healthcare professionals, and ancillary services. The company operates one of the largest post-acute care platforms in the United States, with over 276 locations across 15 states, serving more than 29,000 patients and residents. By adding these 53 new facilities, PACS is strengthening its position as a national leader in post-acute and senior living care.
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