PACS Group Announces Acquisition in Alaska; New Construction of a Skilled Nursing Community

SALT LAKE CITY--(BUSINESS WIRE)--PACS Group, Inc. (NYSE: PACS) (“PACS” or the “Company”) today announced that independently operated subsidiaries of the Company have acquired the operations of the post-acute care facility Ridgeway Senior Living in Anchorage, Alaska. It’s the fourth PACS building in the state of Alaska.

As part of the transaction, PACS has acquired land adjacent to the building, with plans to build a subsequent 150-bed skilled nursing facility, with an estimated completion date of 2028.

“We’re excited to expand our locally led, centrally supported model in Alaska,” said Jason Murray, Chairman and Chief Executive Officer of PACS. “With our plans to build another skilled nursing center on the property, the campus will provide a full continuum of care and become a valuable community asset. Our growth strategy is rooted in ensuring that a market can support our mission of delivering exceptional care at all levels of acuity, and we’re looking forward to supporting the residents and staff members in Anchorage.”

Josh Jergensen, Chief Operating Officer of PACS, added: “As we continue to grow, it’s with an eye on doing so strategically, ensuring that we can continue to deliver exceptional outcomes in helping residents at a vulnerable time in their lives. Expanding further into Alaska represents an exciting opportunity to make a tangible impact in the lives of residents and staff members.”

This expansion brings PACS’ portfolio to 325 communities in 17 states, with nearly 36,000 beds, and is an example of how PACS’ mission to revolutionize post-acute care nationally continues.

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 the United States. Its independent subsidiaries operate 325 post-acute care facilities across 17 states serving over 31,000 patients daily. PACS business support division, PACS Services, provides technology and administrative support services — accounting, finance, human resources, compliance, payroll, AR/AP, legal, risk management, information technology, corporate communication, and other business advice and support — to their healthcare facilities, reducing administrative burdens so their leadership and care teams can focus on the care, well-being, and quality of life of their patients and residents. PACS has been recognized by Utah Business magazine as one of Utah’s Best Companies to work for, back-to-back, in 2022 and 2023. They’ve also been recognized as one of Utah’s Fastest Growing Companies; they ranked #25 in 2022, and #9 in 2023.