PACS Group Expands

McKnight’s reported  on the growth of a new nationwide for profit chain called PACS or Providence. PACS Group, Inc. is a holding company whose subsidiaries comprise a rapidly growing national platform investing in post-acute care facilities, professionals, and ancillary services. PACS recently became public, with just over 200 facilities.

The CEO of PACS is Jason Murray. He recently discussed the ownership and operation of the nursing home facilities the companies own. PACS will now expand into the Midwest with 53 skilled assisted living facilities. Their new post-acute care model allows more opportunities for investors and the public.

Before going public, PACS was cautious not to take capital from private equity or other types because its primary goal is to uphold the mission and principles that the company built itself upon. Murray claims that PACS is a well performing company with 4 or 5 star rankings on every facility.

Murray complains about the safe staffing proposed by the Biden Administration because some facilities may close instead of spending money on safe staffing. Murray claims the 24/7 Registered nurse is tough because there is no reimbursement incentive.