PACS Group adds three post-acute operations to its portfolio
PACS Group Inc., a Farmington-based holding company investing in post-acute health care facilities and ancillary services, has announced that it has acquired the operations of three post-acute care facilities, two located in Alaska and one in Idaho, representing a total of 230 beds.
The company made the acquisition through independently operated subsidiaries of the company.
The facilities are located in the Kenai Peninsula region of Alaska and the Boise metropolitan area of Idaho. PACS Group acquired the real estate associated with the two Alaska facilities, while the Idaho facility will operate under a lease arrangement with a third-party landlord.
PACS also recently acquired the real estate for two existing skilled nursing operations: Sierra Valley Rehab Center in Porterville, California, and Apache Junction Health Center near Phoenix, Arizona.
“We remain focused on disciplined growth within the post-acute care sector as the foundation of our operating and investment strategy,” said Jason Murray, chairman and CEO of PACS. “These acquisitions align with our core platform and expand our presence in markets with strong fundamentals that support higher-acuity care delivery and long-term performance.”
Josh Jergensen, chief operating officer of PACS, added, “Expanding our operational footprint and selectively increasing real estate ownership are key elements of our growth strategy. We’re eager to operate these communities and work alongside their teams, bringing the PACS operating model into markets where we believe it can perform at a high level and make a meaningful impact.”
The acquisition expands PACS’ portfolio to facilities in 324 communities in 17 states, with a total of nearly 36,000 beds. The firm and its subsidiaries serve over 31,000 patients daily.