PACS Group, Inc.

PACS Group, Inc. is a holding company that invests in post-acute healthcare facilities, professionals, and ancillary services. Founded in 2013, its independently licensed subsidiaries operate 398 post-acute care facilities across 21 states and serve over 38,900 patients daily. The portfolio consists primarily of skilled nursing facilities (SNFs), along with assisted living operations. Revenue comes mainly from patient and resident services reimbursed by Medicare, managed care, Medicaid, and private payors. The company aims to increase its skilled mix of high-acuity Medicare and managed care patients and to improve occupancy and CMS quality ratings. Its growth model centers on acquiring underperforming and moderately performing operations and improving them over time. It tracks these facilities in three cohorts: New (under 18 months), Ramping (18–36 months), and Mature (over 36 months). PACS owns 66 facilities and leases 49 more with partial real estate ownership. It holds 37 purchase options on leased facilities and 20 through partnerships, and invests selectively in real estate. In late 2026 it entered Florida by acquiring the operations of 32 SNFs with 4,049 beds, and it expanded in Texas with 11 facilities. The company also operates a captive insurance subsidiary. It is a controlled company under NYSE rules, with founders Jason Murray and Mark Hancock holding substantial control. Updated Nov 3, 2026