PACS Group Extends Footprint, Services to Pacific Northwest and Other States
PACS Group (NYSE: PACS) has completed the acquisition of 53 skilled nursing, assisted and independent living facilities from Prestige Care, expanding its footprint to the Pacific Northwest and five new states. The acquisition includes 2,511 skilled nursing beds and 1,334 assisted living and independent living units across eight western states. This move significantly enhances PACS's presence in the post-acute care sector and establishes its Senior Living vertical, increasing its senior living portfolio from 16 to 37 communities.
The acquisition aligns with PACS's commitment to growth and operational excellence in post-acute care. The company aims to integrate Prestige's four-decade legacy with its own proven model, focusing on empowering local leaders and supporting them with resources to elevate healthcare.
PACS Group (NYSE: PACS) ha completato l'acquisizione di 53 strutture di assistenza residenziale, assistita e per anziani da Prestige Care, espandendo la sua presenza nel Pacific Northwest e in cinque nuovi stati. L'acquisizione comprende 2.511 letti di assistenza qualificata e 1.334 unità di assistenza e vita indipendente distribuiti in otto stati occidentali. Questa mossa migliora significativamente la presenza di PACS nel settore delle cure post-acuzie e stabilisce la sua divisione Senior Living, aumentando il suo portafoglio di abitazioni per anziani da 16 a 37 comunità.
L'acquisizione si allinea con l'impegno di PACS per la crescita e l'eccellenza operativa nella cura post-acuzie. L'azienda mira a integrare il legato di quattro decenni di Prestige con il proprio modello collaudato, concentrandosi sull'empowerment dei leader locali e supportandoli con risorse per elevare la qualità delle cure sanitarie.
PACS Group (NYSE: PACS) ha completado la adquisición de 53 instalaciones de cuidado de enfermería, asistida e independiente de Prestige Care, ampliando su presencia en el Noroeste del Pacífico y en cinco nuevos estados. La adquisición incluye 2,511 camas de enfermería especializada y 1,334 unidades de vida asistida e independiente en ocho estados del oeste. Este movimiento mejora significativamente la presencia de PACS en el sector de cuidado post-agudo y establece su vertical de Senior Living, aumentando su cartera de vida senior de 16 a 37 comunidades.
La adquisición se alinea con el compromiso de PACS hacia el crecimiento y la excelencia operativa en el cuidado post-agudo. La empresa tiene como objetivo integrar el legado de cuatro décadas de Prestige con su propio modelo probado, centrando su atención en empoderar a los líderes locales y apoyarlos con recursos para elevar la atención médica.
PACS 그룹 (NYSE: PACS)는 Prestige Care로부터 53개 숙련 간호, 보조 및 독립 생활 시설을 인수하여 태평양 북서부와 5개 주로 사업 영역을 확장했습니다. 이번 인수에는 2,511개의 숙련 간호 병상과 1,334개의 보조 생활 및 독립 생활 유닛이 포함되어 있으며, 이는 서부 8개 주에 걸쳐 있습니다. 이 조치는 PACS의 회복기 치료 부문에서의 존재감을 크게 향상시키고, Senior Living 수직 부문을 설립하여 은퇴 생활 포트폴리오를 16개에서 37개 커뮤니티로 증가시킵니다.
이번 인수는 PACS의 성장 및 회복기 치료의 운영 우수성과의 일치를 보여줍니다. 회사는 Prestige의 40년 유산을 자신만의 검증된 모델과 통합하고, 지역 리더들을 권한 부여하여 의료 수준을 높일 수 있도록 지원하는 데 중점을 둡니다.
PACS Group (NYSE: PACS) a finalisé l'acquisition de 53 établissements de soins infirmiers, d'assistance et de vie autonome de Prestige Care, étendant ainsi son empreinte dans le Nord-Ouest Pacifique et dans cinq nouveaux États. L'acquisition comprend 2.511 lits de soins infirmiers spécialisés et 1.334 unités de vie assistée et autonome répartis sur huit États de l'Ouest. Ce mouvement améliore considérablement la présence de PACS dans le secteur des soins post-aigus et établit son vertical Senior Living, augmentant son portefeuille de logements pour seniors de 16 à 37 communautés.
L'acquisition s'aligne avec l'engagement de PACS envers la croissance et l'excellence opérationnelle dans les soins post-aigus. L'entreprise vise à intégrer l'héritage de quatre décennies de Prestige avec son propre modèle éprouvé, en se concentrant sur l'autonomisation des leaders locaux et leur soutien par des ressources pour élever la qualité des soins de santé.
PACS Group (NYSE: PACS) hat die Übernahme von 53 Einrichtungen für pflegerische, unterstützte und unabhängige Wohnformen von Prestige Care abgeschlossen, wodurch seine Präsenz im pazifischen Nordwesten und in fünf neuen Bundesstaaten erweitert wird. Die Übernahme umfasst 2.511 Pflegebetten und 1.334 unterstützende sowie unabhängige Wohneinheiten über acht Bundesstaaten im Westen. Dieser Schritt verbessert die Präsenz von PACS im Bereich der postakuten Versorgung erheblich und etabliert die Sparte Senior Living, wodurch das Portfolio für Seniorenwohnungen von 16 auf 37 Gemeinschaften erhöht wird.
Die Übernahme steht im Einklang mit dem Engagement von PACS für Wachstum und operative Exzellenz in der postakuten Versorgung. Das Unternehmen strebt an, das vierzig Jahre alte Erbe von Prestige mit seinem eigenen bewährten Modell zu integrieren, dabei liegt der Fokus auf der Stärkung lokaler Führungskräfte und deren Unterstützung mit Ressourcen zur Verbesserung der Gesundheitsversorgung.
- Acquisition of 53 facilities across 8 western states, expanding geographical presence
- Addition of 2,511 skilled nursing beds and 1,334 assisted/independent living units
- Expansion into 5 new states: Alaska, Idaho, Montana, Oregon, and Washington
- Establishment of a Senior Living vertical, increasing portfolio from 16 to 37 communities
- Potential for increased market share and revenue in the post-acute care sector
- Integration challenges and potential operational disruptions during transition
- Increased operational complexity due to geographical expansion
- Potential short-term costs associated with acquisition and integration
Insights
PACS Group's acquisition of 53 facilities from Prestige Care marks a significant expansion of their operations. This move adds
This acquisition represents a strategic move for PACS Group in the post-acute care sector. By expanding into the Pacific Northwest and adding a significant number of facilities, PACS is positioning itself as a major player in the industry. The addition of senior living communities to their portfolio is particularly noteworthy, as it allows PACS to offer a more comprehensive continuum of care. This vertical integration could lead to improved patient outcomes and potentially higher reimbursement rates. However, managing such a diverse portfolio across multiple states will require robust operational systems and strong leadership. The success of this expansion will largely depend on PACS's ability to maintain quality care standards while achieving operational synergies across its enlarged network.
PACS Group's expansion into new geographical areas and the senior living sector aligns with broader industry trends. The aging population in the U.S. is driving demand for skilled nursing and senior living facilities, making this acquisition timely. By entering five new states, PACS can capitalize on regional market dynamics and potentially benefit from varying reimbursement landscapes. The move from 16 to 37 senior living communities represents a
National Post-Acute Platform Adds 53 Facilities, Five New States and Senior Living Vertical to Portfolio
The facilities span eight western states with 21 facilities in
“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.”
This addition expands the PACS network to the Pacific Northwest for the first time and to five new states:
“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 COO. “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 healthcare.”
Throughout the integration and beyond, PACS executive, operations and human resources teams have worked closely with Prestige leaders to uphold and protect operations without disruption.
“PACS deeply values the legacy of care created by the Delamarter family and Prestige team members,” said Scott Mortensen, PACS Vice President of Ancillaries. “Love is the foundation for the care we provide, and we look forward to bringing that ethos to senior living communities. We are committed to building on the legacy of this family-run company to make these communities the chosen home of the people we serve, while also supporting the committed professionals who make them successful.”
For more information, visit www.pacs.com.
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
Forward-Looking Statements
Statements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “would,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements include, among others, the anticipated closing of the Prestige acquisition, potential strategic benefits of the Prestige acquisition, and are based on PACS’ current expectations, forecasts, and assumptions, are subject to inherent uncertainties, risks and assumptions that are difficult to predict, and actual outcomes and results could differ materially due to a number of factors, including: if we fail to complete the Prestige acquisition; if we fail to successfully integrate the business and operations of Prestige’s facilities in the expected timeframe or at all; and if we continue to incur substantial expenses related to the Prestige acquisition and the related integration of the Prestige facilities, if consummated. Other risks and uncertainties include those described more fully in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in our Quarterly Report on Form 10-Q for the three months ended March 31, 2024, and in the PACS’ other reports filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240910499494/en/
Brooks Stevenson
VP, Corporate Communications
(801) 597-9538
brooks.stevenson@pacs.com
Source: PACS Group, Inc.
FAQ
How many facilities did PACS Group (NYSE: PACS) acquire from Prestige Care?
What is the geographical distribution of the newly acquired PACS (NYSE: PACS) facilities?
How does this acquisition impact PACS Group's (NYSE: PACS) senior living portfolio?
What is the total capacity of the newly acquired PACS (NYSE: PACS) facilities?
