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PACS Group, Inc. (symbol: PACS) is a leading post-acute healthcare company in the United States, dedicated to delivering high-quality skilled nursing care through a portfolio of independently operated facilities. With a presence across nine states, PACS Group operates over 200 post-acute care facilities, serving more than 20,000 patients daily. This extensive network makes PACS Group one of the largest nursing providers in the country.
PACS Group's services extend beyond skilled nursing care to include senior care, assisted living, and independent living options, catering to a broad spectrum of patient needs. The company is committed to providing personalized care and improving the quality of life for its residents.
Recent Achievements:
- Expansion of facility network to 200+ locations.
- Introduction of innovative care models to enhance patient outcomes.
- Partnerships with leading healthcare providers to ensure comprehensive patient care.
Current Projects:
- Development of new assisted living communities.
- Implementation of advanced healthcare technologies to improve service delivery.
- Continuous training programs for staff to maintain high standards of care.
PACS Group's robust financial performance and strategic initiatives underscore its commitment to growth and excellence in the healthcare sector. The company's focus on quality care and operational efficiency positions it as a significant player in the post-acute care market.
For the latest updates, performance insights, and detailed information about PACS Group, visit our news section regularly.
PACS Group, Inc. (NYSE: PACS) has successfully closed its upsized public offering, selling a total of 19,034,482 shares of common stock at $36.25 per share. The offering included 2,777,778 shares sold by the company and 16,256,704 shares sold by selling stockholders. The underwriters fully exercised their option to purchase an additional 2,482,758 shares from the selling stockholders. The gross proceeds amounted to approximately $101 million for PACS and $589 million for the selling stockholders. Citigroup, J.P. Morgan, and Truist Securities led the offering as book-running managers, with several other firms participating. The offering was made through a prospectus filed with the SEC.
PACS Group, Inc. (NYSE: PACS) has announced the pricing of its upsized public offering of 16,551,724 shares of common stock at $36.25 per share. The offering includes 2,777,778 shares sold by the company and 13,773,946 shares sold by selling stockholders. The gross proceeds are approximately $101 million for PACS and $499 million for the selling stockholders. Additionally, selling stockholders granted underwriters a 30-day option to purchase up to 2,482,758 additional shares. The offering is expected to close on September 9, 2024. Lead book-running managers include Citigroup, J.P. Morgan, and Truist Securities, with other firms acting as joint book-running managers and co-managers.
PACS Group, Inc. (NYSE: PACS) has announced an underwritten public offering of 13,888,890 shares of its common stock. The offering includes 2,777,778 shares sold by the company and 11,111,112 shares sold by certain selling stockholders. The selling stockholders may grant underwriters a 30-day option to purchase up to an additional 2,083,332 shares. PACS will not receive proceeds from the sale of shares by selling stockholders.
The offering is subject to market conditions, with no guarantee of completion or final terms. Citigroup, J.P. Morgan, and Truist Securities are lead book-running managers, while RBC Capital Markets, Goldman Sachs & Co. , and UBS Investment Bank are joint book-running managers. Stephens Inc. and Oppenheimer & Co. are co-managers.
PACS Group, Inc. (NYSE: PACS), a major post-acute healthcare company in the US, reported its Q2 2024 results. Key highlights include:
- Consolidated GAAP revenue for H1 2024 was $1.9 billion, up 31% year-over-year
- Q2 2024 revenue was $981.8 million, a 29% increase from Q2 2023
- Adjusted EBITDA for H1 2024 and Q2 2024 were $188.2 million and $99.7 million respectively
- Total Facilities occupancy was 91.0% in Q2 2024
- The company increased its 2024 full-year guidance, expecting revenue between $3.85-$3.95 billion and Adjusted EBITDA of $370-$380 million
PACS added 32 facilities and made 12 real estate acquisitions in the 12 months ending June 30, 2024, expanding its portfolio to 248 healthcare operations across 13 states.
PACS Group (NYSE: PACS) has announced it will release its second quarter 2024 financial results after market close on Monday, August 12, 2024. The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results and related information. Investors can access the call via webcast on the PACS Group website or by dialing in. A recording of the call will be available for replay on the website for 30 days following the event. PACS Group encourages investors to monitor their press releases, SEC filings, public conference calls, webcasts, and website for important company information.
PACS Group announced that its subsidiaries will acquire operations of 53 skilled nursing and assisted/independent living facilities in the Pacific Northwest.
The facilities, currently operated by Prestige, are spread across 8 states, including Oregon (21), Washington (19), Idaho (6), Nevada (3), and one each in Alaska, Arizona, California, and Montana, with a total of 2,511 skilled nursing beds and 1,334 assisted living units.
PACS will lease 37 facilities from a joint venture where it holds a 25% interest, while the remaining 16 will be leased from third-party landlords.
The acquisition is expected to close in Q3 2024, subject to regulatory approvals and consents. The upfront capital required includes $15 million for the real estate joint venture.
PACS leadership expressed excitement about integrating these facilities and expanding their footprint to 5 new states.
PACS Group, one of the largest post-acute healthcare companies in the U.S., announced its Q1 2024 results. The company reported a net income of $49.1 million, a 30.7% increase from the previous year, and GAAP earnings per share of $0.38, up 31%. Revenue for the quarter rose by 31.9% to $934.7 million.
Adjusted EBITDA was $88.5 million, a 34% increase, and Adjusted EBITDAR reached $152.5 million. Total facilities occupancy was 91.1%, with notable increases in ramping and mature facilities. The company added 10 operating facilities, enhancing its portfolio to 218 healthcare operations.
CEO Jason Murray highlighted the importance of clinical excellence and CFO Derick Apt noted significant revenue growth from adding 5,194 beds. PACS projects 2024 revenue between $3.65 billion and $3.75 billion, with Adjusted EBITDA between $351 million and $361 million.
PACS Group, Inc. (NYSE: PACS) will announce its first quarter 2024 financial results on May 13, 2024, with a call on May 14, 2024, to discuss the results. The company operates over 200 post-acute care facilities in the US, serving 22,000 patients daily. Investors can access important information on the PACS Group website.
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