Farmington-based PACS Group Inc. has announced the closing of its initial public offering of 21,428,572 shares of its common stock sold by the company at a public offering price of $21 per share, for total gross proceeds of approximately $450 million. The company said its IPO is the largest ever for a healthcare-related company in Utah.
PACS is a holding company investing in post-acute healthcare facilities, professionals and ancillary services. Founded in 2013, PACS’s independent subsidiaries operate over 200 post-acute care facilities across nine states serving over 20,000 patients daily.
PACS Group Inc.’s common stock is now listed on the New York Stock Exchange under the ticker symbol “PACS.”