Senior Housing News September 10, 2024
PACS Group (NYSE: PACS) has finalized its previously announced acquisition of more than four dozen communities from Prestige Care.
The acquisition, announced earlier this year in May, adds 53 skilled nursing, assisted and independent living communities to the company’s holdings and expands its foothold to Alaska, Idaho, Montana, Oregon and Washington.
Through the acquisition, PACS Group is more than doubling its number of senior living communities, going from 16 to 37. In total, the acquisition is adding 1,334 assisted living and independent living units to the company’s senior housing portfolio.
The acquisition came about following PACS Group “recognizing the market need,” noting the current senior living landscape is not substantial enough to keep up with the demand in the coming...
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