PACS Group closes on acquisition of Pacific Northwest health care company
PACS Group Inc., a healthcare technology company based in Farmington, has finalized its acquisition of operations of 53 skilled nursing, assisted and independent living facilities from Vancouver, Washington-based Prestige Care.
The facilities span eight western states with 21 facilities in Oregon; 19 in Washington; six in Idaho; three in Nevada; and one facility each in Alaska, Arizona, California and Montana. Collectively, the facilities have 2,511 skilled nursing beds and 1,334 assisted living and independent living units.
PACS Group provides services such as accounting, finance, human resources and payroll for the health care sector.
“PACS is committed to growing as a legacy company. 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,” said Jason Murray, PACS chairman and CEO. “As one of the nation’s largest skilled nursing operators, we take seriously our commitment to maintaining the operational excellence Prestige has provided for four decades and marrying it with the benefits of our proven model.”
The acquisition expands the PACS network to the Pacific Northwest for the first time and to five new states. It also enables PACS to establish a senior living vertical as it boosts its senior living portfolio from 16 to 37 communities, Murray said.
“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 chief operating officer. “We will uphold our deep commitment to empowering local leaders and their staff who know their residents, their families and communities the best and supporting them with resources to elevate health care.”
The majority of Prestige management, providers and healthcare professionals will remain in their current positions, assuring undisrupted operations, Jergensen said.