PACS Group Inc. said its shares rose 3.3% in pre-market trading after the company announced two separate transactions that expand its specialized nursing home operations in the U.S.
The company reached definitive agreements to acquire 32 specialized nursing facilities in Florida, totaling 4,049 licensed beds. The facilities will be leased from Omega Healthcare Investors Inc. The transaction, expected to close in the fourth quarter subject to customary conditions, marks PACS’s entry into Florida and represents its fourth new state market following existing operations in Texas, South Carolina, Tennessee and Kentucky.
Separately, PACS completed the acquisition of 11 additional units from Eduro Healthcare, bringing total closures from Eduro to 31 of 34 units. The 11 units add 3,633 nursing beds across New Mexico, North Dakota and South Dakota, expanding PACS into three new states. Three remaining Eduro units are still pending closure. Combined, the transactions increase PACS’s total network to 355 units.
Jason Murray, chairman and CEO of PACS Group, said the Florida expansion aligns with the company’s long-term strategy to target regions with strong demographic demand and opportunities to enhance care delivery.
