PACS Group Closes Acquisition of Operations at 8 Facilities in Pennsylvania, Including Real Estate on 4
PACS Group (NYSE: PACS) has announced the acquisition of 8 skilled nursing facilities in western Pennsylvania through its independently operated subsidiaries. The facilities, located in Pittsburgh, Bedford, Bethel Park, Monroeville, and McMurray, comprise 1,199 skilled nursing beds. Four facilities will be leased from CareTrust REIT (NYSE: CTRE), while PACS subsidiaries acquired the real estate of the remaining four. This expansion marks PACS's entry into Pennsylvania, its 17th state of operation, with a focus on bringing their post-acute care model to the Greater Pittsburgh area.
Il gruppo PACS (NYSE: PACS) ha annunciato l'acquisizione di 8 strutture di nursing specializzate nella Pennsylvania occidentale attraverso le sue filiali operative indipendenti. Le strutture, situate a Pittsburgh, Bedford, Bethel Park, Monroeville e McMurray, comprendono 1.199 letti per assistenza specializzata. Quattro strutture saranno affittate da CareTrust REIT (NYSE: CTRE), mentre le filiali di PACS hanno acquisito il patrimonio immobiliare delle restanti quattro. Questa espansione segna l'ingresso di PACS in Pennsylvania, il suo 17° stato di operazione, con l'obiettivo di portare il loro modello di assistenza post-acuta nella Grande Pittsburgh.
El grupo PACS (NYSE: PACS) ha anunciado la adquisición de 8 instalaciones de enfermería especializadas en el oeste de Pennsylvania a través de sus subsidiarias operativas independientes. Las instalaciones, ubicadas en Pittsburgh, Bedford, Bethel Park, Monroeville y McMurray, comprenden 1,199 camas de enfermería especializada. Cuatro instalaciones serán alquiladas a CareTrust REIT (NYSE: CTRE), mientras que las subsidiarias de PACS adquirieron el patrimonio inmobiliario de las otras cuatro. Esta expansión marca la entrada de PACS en Pennsylvania, su 17° estado de operación, con un enfoque en llevar su modelo de atención post-aguda al área metropolitana de Pittsburgh.
PACS 그룹(NYSE: PACS)은 독립적으로 운영되는 자회사를 통해 서부 펜실베이니아에서 8개의 전문 요양 시설을 인수했다고 발표했습니다. 이 시설들은 피츠버그, 베드포드, 베델 파크, 먼로빌과 맥머리 내에 위치하고 있으며, 1,199개의 전문 요양 침대를 보유하고 있습니다. 네 개의 시설은 CareTrust REIT(NYSE: CTRE)로부터 임대될 것이며, PACS 자회사는 나머지 네 개의 부동산을 인수했습니다. 이번 확장은 PACS가 펜실베이니아에 진입하는 것으로, 이는 17번째 운영 주이며, 그들의 후속 치료 모델을 피츠버그 대도시 지역에 제공하려는 초점을 두고 있습니다.
Le groupe PACS (NYSE: PACS) a annoncé l'acquisition de 8 établissements de soins infirmiers spécialisés dans l'ouest de la Pennsylvanie par le biais de ses filiales indépendantes. Les établissements, situés à Pittsburgh, Bedford, Bethel Park, Monroeville et McMurray, comprennent 1.199 lits de soins spécialisés. Quatre établissements seront loués à CareTrust REIT (NYSE: CTRE), tandis que les filiales de PACS ont acquis l'immobilier des quatre autres. Cette expansion marque l'entrée de PACS en Pennsylvanie, son 17ème état d'opération, avec l'objectif d'apporter leur modèle de soins post-aigus dans la région métropolitaine de Pittsburgh.
Die PACS-Gruppe (NYSE: PACS) hat den Erwerb von 8 spezialisierten Pflegeeinrichtungen im westlichen Pennsylvania durch ihre unabhängig betriebenen Tochtergesellschaften bekannt gegeben. Die Einrichtungen befinden sich in Pittsburgh, Bedford, Bethel Park, Monroeville und McMurray und umfassen 1.199 Pflegebetten. Vier Einrichtungen werden von CareTrust REIT (NYSE: CTRE) gemietet, während die Tochtergesellschaften von PACS das Immobilienvermögen der verbleibenden vier erworben haben. Diese Expansion markiert den Eintritt von PACS in Pennsylvania, dem 17. Bundesstaat, in dem das Unternehmen tätig ist, mit dem Ziel, ihr Modell der nach-akuten Versorgung in der Metropolregion Pittsburgh einzuführen.
- Expansion into Pennsylvania as 17th state of operation
- Strategic acquisition of 1,199 skilled nursing beds
- Mixed model of real estate ownership and leasing showing flexible growth strategy
- Geographic diversification in the Greater Pittsburgh market
- None.
Insights
This strategic acquisition marks a significant expansion for PACS, adding 1,199 skilled nursing beds across 8 facilities in Pennsylvania. The deal structure is particularly noteworthy, combining both leased operations (4 facilities from CareTrust REIT) and outright real estate acquisitions (4 facilities), demonstrating a balanced approach to capital allocation. The expansion into Pennsylvania as their 17th state indicates strong geographic diversification and market penetration strategy.
The Greater Pittsburgh market presents substantial growth potential in the post-acute care sector, with an aging demographic and strong healthcare infrastructure. The mixed lease/purchase model helps optimize capital efficiency while maintaining operational control. This acquisition should contribute meaningfully to PACS's revenue stream and market presence in the northeastern United States.
The acquisition strategically positions PACS in the lucrative western Pennsylvania healthcare market, particularly around Pittsburgh's metropolitan area. This region has a higher-than-average elderly population and strong healthcare networks, making it an attractive market for skilled nursing facilities. The portfolio's size of 1,199 beds provides immediate scale advantages and operational synergies.
The partnership with CareTrust REIT for four facilities demonstrates strong institutional backing and validates the market opportunity. The diverse location spread across Pittsburgh, Bedford, Bethel Park, Monroeville and McMurray creates a robust regional network that can capture various patient demographics and referral patterns.
“We’re excited to enter into
Derick Apt, PACS CFO, noted: “This acquisition illustrates an important element of our growth model in action. We consider acquisitions, both large and small, lease and purchase, when we believe the PACS operating model can thrive in this kind of market — and in new markets — and we look forward to seeing the good that these facilities can provide to their communities in the years to come.”
About PACS™
PACS Group, Inc. is a holding company investing in post-acute healthcare facilities, professionals, and ancillary services. Founded in 2013, PACS Group is one of the largest post-acute platforms in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241101171563/en/
Investors: IR@pacs.com
Media: Brooks Stevenson
VP Corporate Communication
262 N. University Avenue
T: 385-988-3596
brooks.stevenson@pacs.com
https://www.pacs.com
https://ir.pacs.com
Source: PACS Group, Inc.
FAQ
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