PACS Group Inc. has announced the acquisition of a major skilled nursing facilities operator, acquiring 34 facilities across six western states. PACS Group, based in Farmington, with its main corporate office in Salt Lake City, is buying Eduro Healthcare, a family-owned company with a nearly 20-year history of caring for seniors. Eduro is also based in Salt Lake City. The acquisition is being made through several PACS Group subsidiaries.
The acquired operations are in Texas (22 facilities), Montana (six facilities), South Dakota (three facilities), with one facility in each of New Mexico, North Dakota and Utah. Collectively, the facilities have 3,633 skilled nursing beds.
“We’re thrilled to welcome these 34 facilities, as well as their staff and residents, to the PACS family,” said Jason Murray, PACS chairman and CEO. “The Eduro leadership team have a remarkable reputation for excellence and have built a solid foundation of clinical care and operational performance that we’ll continue to add value to. We look forward to building on their culture, their great success, supporting these new facilities and furthering our mission of providing exceptional nursing care to everyone in these communities.”
“As PACS continues to grow, it’s with an eye on doing so strategically, ensuring continued focus on exceptional outcomes and helping residents at vulnerable times in their lives,” PACS Group said in its announcement. “PACS’s experience with large portfolio acquisitions illustrates the ability to successfully bring their operational model into new markets.
“We’re excited to enter four new states and welcome Eduro’s teams into PACS. What stood out to us right away is how closely our operating models align — both organizations empower local leadership and support them with the resources they need to deliver strong clinical and operational outcomes,” said Josh Jergensen, PACS president and COO. “Just as importantly, our mission and approach to patient care are very similar. Mike and the Eduro team have done a great job building a consistent, high-performing organization and we’re proud to carry that forward and continue investing in those teams and communities.”
“PACS is a respected, mission-driven post-acute operator with a proven record of excellence. As we considered the right partner, what mattered most to us was finding an organization that would genuinely embrace our culture and core values, provide continuity for our employees, and build on the foundation we've worked so hard to create,” said Mike Bewsey, Eduro’s managing director. “We’ve reached a stage in our professional lives where a transition is the logical next step, following two years of significant financial and clinical achievements. From our very first conversations, PACS has shown exactly that kind of commitment. I couldn’t be more excited for the future of the Eduro family under PACS’s stewardship.”
The transaction is expected to close in multiple tranches, with the majority of the facilities currently anticipated to close in the third quarter of this year, subject to regulatory approvals and other customary contingencies. A purchase price was not released.
PACS Group was founded in 2013 and operates more than 320 post-acute care and senior living facilities across 17 states, serving more than 31,700 patients daily.
