PACS

What PACS does

PACS Group, Inc. (NYSE: PACS) is a publicly traded holding company founded in 2013 and headquartered in Salt Lake City, Utah. The company invests in and operates 324 post-acute care, skilled nursing, and senior living facilities across 17 U.S. states, employing more than 46,000 professionals and serving over 30,000 patients and residents daily. Co-founded by Jason Murray (CEO and Chairman) and Mark Hancock (Executive Vice Chairman), PACS has grown from two facilities in San Diego to one of the three largest skilled nursing operators in the United States through a combination of facility acquisitions, de novo development, and operational turnarounds of underperforming assets.

PACS operates through three integrated components: (1) post-acute care services providing skilled nursing, rehabilitation, long-term care, and memory care; (2) senior living communities offering assisted living, independent living, and memory care; and (3) PACS Services, a centralized back-office platform delivering legal, financial, HR, technology, compliance, and clinical support to affiliated facilities. The company has invested approximately $100 million in a cloud-based technology platform featuring a universal Electronic Health Record (EHR) system integrated with AI tools for clinical analytics, documentation, and operational optimization. This infrastructure supports standardized, repeatable processes that enable PACS to consistently improve facility performance, evidenced by 94.9% mature facility occupancy (compared to a 78.7% industry average) and 73.4% of skilled nursing facilities earning 4- or 5-star CMS quality ratings.

The company's revenue model combines direct facility operations (patient and resident service revenue from Medicare, Medicaid, and private payers) with management fees from affiliated operators under the PACS Services model. PACS completed its initial public offering in April 2024 and an upsized secondary public offering in September 2024, generating approximately $101 million in proceeds for the company and $589 million for selling stockholders. The growth strategy centers on acquiring roughly five underperforming facilities per quarter, expanding into new geographic markets (most recently Tennessee, Alaska, and Idaho), and continuing investment in technology, leadership development (including the AIT program), and operational infrastructure.

Name

PACS

Legal name

PACS Group, Inc.

Website

https://pacs.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

PACS Group, Inc. is a publicly traded post-acute healthcare holding company operating 324 skilled nursing and senior living facilities across 17 U.S. states, employing 46,000+ professionals and serving 30,000+ patients and residents daily through a centralized operational platform.

Ownership category

akta.pro rank

Product category

Skilled Nursing and Post-Acute Care Services

NAICS

Continuing Care Retirement Communities (623311), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (6233), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Nursing Care Facilities (Skilled Nursing Facilities) (62311)

SIC

Services-Skilled Nursing Care Facilities (8051), Services-Nursing & Personal Care Facilities (8050)

akta.pro primary industry

For-Profit / Investor-Owned CCRCs (HLADAEAD)

akta.pro secondary industries

Specialty CCRCs (e.g., Memory-Care-Focused, Veteran-Focused) (HLADAEAK), Multi-Campus / Regional CCRC Networks (HLADAEAF), Continuing Care Retirement Communities (CCRC) with Memory Care (HLADACAD)

Keywords

• Skilled nursing facilities
• Post-acute care services
• Senior living communities
• Healthcare facility operations
• Administrative healthcare services

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Skilled Nursing Facility Operations: Revenue generated from operating owned and leased post-acute care, skilled nursing, and senior living facilities. The company provides comprehensive clinical care and residential services to patients and residents.
2. Management and Administrative Services: PACS Services provides back-office support and consulting services to affiliated facilities, including administrative, technology, training, and compliance resources. Revenue is generated through management fees from affiliated operating subsidiaries.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

PACS Group, Inc. operates 324 post-acute care, skilled nursing, and senior living facilities across 17 U.S. states through independent operating subsidiaries, providing clinical services such as long-term and short-term post-acute care, rehabilitation, memory care, assisted living, and independent living. The company supports these facilities with PACS Services, a centralized back-office platform delivering administrative, financial, human resources, technology, compliance, and clinical resources to enable consistent quality and operational performance across the network.

Product overview

PACS Group, Inc. is a holding company and national post-acute healthcare platform that operates through three integrated components: (1) Post-Acute Care Services — skilled nursing facilities providing clinical care including long-term/short-term post-acute care, memory care, and rehabilitation; (2) Senior Living Services — assisted living, independent living, and memory care communities; and (3) PACS Services — a centralized operational support platform delivering back-office functions including legal, financial, HR, technology, compliance, and clinical support to affiliated facilities. The company also operates an Administrator in Training (AIT) program to develop future facility leaders. PACS holds facilities through both ownership and lease arrangements, operating 324 facilities across 17 states serving over 30,000 patients and residents daily.

Differentiator

Problem solved

Functional benefit

Products and services

• Post-Acute Care Services Skilled nursing and post-acute care services provided through 324 PACS-affiliated facilities, including long-term and short-term post-acute care, memory care, rehabilitation, and therapy services that help patients transition safely from hospital to home or long-term care. Serves post-acute care patients across 17 U.S. states.
• Senior Living Services Senior living communities offering assisted living, independent living, memory care support, and additional services designed to promote comfort, dignity, and well-being as residents age. Serves older adults and their families across PACS-affiliated communities in the U.S.
• PACS Services Centralized back-office and operational support platform providing comprehensive resources including legal, financial, human resources, marketing, technology, compliance, and clinical support to affiliated facility operators, owners, and landlords. Enables affiliated facilities to focus on delivering high-quality patient and resident care while benefiting from national-scale administrative and operational expertise.
• Administrator in Training (AIT) Program Comprehensive leadership development pathway for individuals seeking to become licensed skilled nursing facility administrators, providing extensive instruction, hands-on experience, mentorship, and regulatory training. Develops future facility leaders from within the PACS network.

Quantifiable outcome

• 94.9% mature facility occupancy compared to industry average of 78.7%
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Facility Owners and OperatorscoreImplementation/ SI/ Consulting PartnerPACS partners with skilled nursing and long-term care facility owners and operators, providing comprehensive administrative, operational, and management support services. This includes strategic consulting, operational tools, and recommendations to help facilities maximize efficiency and investment returns.
• Healthcare Facility LandlordscoreImplementation/ SI/ Consulting PartnerPACS partners with real estate investors and landlords owning skilled nursing facilities, offering administrative and operational support to protect investment value and ensure facility sustainability and long-term viability.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Others

• Ventas: Major senior housing and healthcare REIT that interacts with operators like PACS as both a landlord and capital partner. Indirect peer via real estate exposure to PACS' footprint.
• Welltower: Largest U.S. senior housing and healthcare infrastructure REIT, with growing exposure to senior living operators similar to PACS' Senior Living Services segment.
• Sabra Health Care REIT: Healthcare REIT that owns skilled nursing and senior housing properties leased to operators including PACS and Ensign. Useful peer for understanding real estate/lease economics relevant to PACS' lease arrangements.

Direct peers

• The Pennant Group: Spun off from Ensign, operates home health, hospice, and senior living across the U.S. Comparable decentralized operating model and mix of post-acute and senior care services.
• Brookdale Senior Living: Largest U.S. senior living operator with assisted living, independent living, and memory care communities. Comparable on the senior living portion of PACS' portfolio, though PACS is more SNF-weighted.
• The Ensign Group: Operates skilled nursing and post-acute care facilities across 14+ states using a decentralized cluster model. The closest public comparable to PACS in terms of SNF operations, real estate strategy, and acquisition-driven growth.
• National HealthCare Corporation: Operates skilled nursing facilities, assisted living, and home care across the southeastern U.S. Overlapping SNF operator with comparable mix of post-acute services and senior living.

Emerging players

• Sonida Senior Living: Smaller publicly traded senior living operator with assisted living and memory care communities. Comparable on the senior living portion of PACS but at materially smaller scale.

Broad incumbents

• Encompass Health: Largest owner and operator of inpatient rehabilitation hospitals in the U.S. Adjacent post-acute care provider with similar patient referral dynamics from acute hospitals.
• Select Medical Holdings: Operates critical illness recovery hospitals, inpatient rehab, and outpatient rehab clinics. Broader post-acute care incumbent with overlap in hospital-to-post-acute referral pathways.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@PACSHealthcareElevated
• Facebookfacebook.com/profile.php?id=100085241692703
• LinkedInlinkedin.com/company/pacsutah
• Instagraminstagram.com/pacs_utah
• Xx.com/vpacs

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PACS