PACS Group Inc., a healthcare-focused holding company based in Farmington, has announced that independent operating subsidiaries of the company have acquired the operations of 11 skilled nursing facilities in Tennessee, which collectively comprise 1,310 skilled nursing beds. The company expects to close on a 12th facility in Tennessee in the first quarter of 2025. With the expansion into Tennessee, PACS has now acquired a total of 38 facilities since Oct. 31, adding 4,700 skilled nursing beds to its portfolio.
“We’re excited to close these latest acquisitions, which further expand PACS’ footprint to 17 states, bringing our services to more communities than ever before,” said Jason Murray, PACS chairman and CEO. “The business remains on solid footing and we are continuing to execute on our growth strategies by seeking prudent acquisitions and leveraging our decentralized leadership model to provide the highest quality of care to our communities. Supported by a robust balance sheet with ample liquidity, we remain well-positioned to drive continued growth and value creation for all of our stakeholders.”
“As we enter new markets and continue to operate our business, we remain focused on our mission to revolutionize the delivery, leadership, and quality of post-acute care,” said Josh Jergensen, PACS president and chief operating officer. “We continue to see strong operational performance across our network and believe our continued success in these metrics gives insight into the overall health and strength of our organization.”
PACS Group invests in post-acute health care facilities, professionals and ancillary services. Founded in 2013, its independent subsidiaries operate 314 post-acute care and senior living facilities across 17 states, serving over 30,000 patients daily.