PACS Group Inc. shares advanced 3.3% in premarket trading on Wednesday after the company announced a definitive agreement to acquire 32 skilled nursing facilities in Florida, expanding its footprint into a fourth new state.
The transaction, expected to close in the fourth quarter pending customary conditions, includes 4,049 licensed skilled nursing beds. The facilities will be leased from Omega Healthcare Investors Inc., which closed at $46.79, up 2.34% on the day.
The Florida expansion marks PACS’s entry into the state, complementing existing operations in Texas, South Carolina, Tennessee and Kentucky. The company operates under a locally led, centrally supported model across its skilled nursing network.
Separately, PACS completed the acquisition of 11 additional facilities from Eduro Healthcare, bringing the total Eduro closings to 31 out of 34 facilities. The transactions add 3,633 nursing beds across New Mexico, North Dakota and South Dakota, introducing PACS to three new states. Three remaining Eduro facilities remain pending closure.
The combined transactions expand PACS’s total facility count to 355, with Jason Murray, Chairman and CEO, highlighting Florida’s high-growth potential and alignment with the company’s long-term strategy. “Entering a new state and expanding into a dynamic new market is an exciting opportunity for PACS,” Murray said. “Florida represents an attractive market with strong demographic demand and opportunities to enhance care delivery.”
