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Week of Expected Pricing 4/11/2024
Company Name PACS GROUP, INC
Proposed Ticker PACS
CUSIP 69380Q107
Business Description We are a leading post-acute healthcare company primarily focused on delivering high-quality skilled nursing care through a portfolio of independently operated facilities. Founded in 2013, we are one of the largest skilled nursing providers in the United States based on number of facilities, with over 200 post-acute care facilities across nine states serving over 20,000 patients daily. We also provide senior care, assisted living, and independent living options in some of our communities. Our significant historical growth has been primarily driven by our expertise in acquiring underperforming long-term custodial care skilled nursing facilities and transforming them into higher acuity, high value-add short-term transitional care skilled nursing facilities. We believe our success is driven in significant part by our decentralized, local operating model, through which we empower local leaders at each facility to operate their facility autonomously and deliver excellence in clinical quality and a superior experience for our patients. We provide our independently operated facilities with a comprehensive suite of technology, support, and back-office services thatallow local leadership teams to focus more of their time and effort on providing quality care to patients. We believe our operating model delivers value to all of our healthcare stakeholders, including patients and families, referring providers, payors, and administrators and clinicians.
Lead Underwriter Citigroup Global Markets Inc,J.P. Morgan Securities LLC,Truist Securities, Inc
Co-Managers Goldman Sachs & Co. LLC,KeyBanc Capital Markets Inc,Oppenheimer & Co. Inc,RBC Capital Markets, LLC,Regions Securities LLC,Stephens Inc.
Initial Shares 19,050,000
Revised Initial Shares 21,428,572
Initial Price $20.00-$22.00
Revised Price $21.00-$21.00
Final Price $21.00
Final Ticker PACS

 

 

   
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