PACS Group, Inc. (NYSE: PACS) (“PACS” or the “Company”), which together with its subsidiaries is one of the largest post-acute healthcare companies in the United States, announced several business updates that build on the Company’s momentum and strong year-to-date operational and financial performance.
“The amendment and waiver to our credit agreement and the latest addition to our growing portfolio demonstrate how our team continues to execute on our strategy and position our business for continued growth,” said Jason Murray, PACS’s Chief Executive Officer. “It’s an exciting time at PACS. We have addressed recent challenges, put them squarely behind us and we are entirely focused on the future. We are confident in our ability to build on the momentum underway, continue to deliver high-quality care to patients and drive value creation for PACS shareholders.”
Amendment and Waiver to Existing Credit Agreement
On November 26, 2025, PACS entered into an amendment (the “Sixth Amendment”) to the Amended and Restated Credit Agreement, dated as of December 7, 2023. The Sixth Amendment, among other things, waived all defaults and events of default in the previously disclosed forbearance agreement, dated October 21, 2025. In addition, the Sixth Amendment provides that the financial covenant requiring the Company to maintain unrestricted cash and certain permitted investments of at least $100 million will only apply prior to the date on which the Company reports financial statements and a related compliance certificate for the quarter ending June 30, 2026. On November 26, 2025, PACS also entered into a corresponding waiver of all events of default previously identified under the Third Consolidated Master Lease, dated June 30, 2023.
PACS expects to continue to use its Amended and Restated Credit Facility to fund the potential acquisition of additional property and operations, for capital improvements of existing facilities, as well as for working capital and general corporate purposes. As of December 1, 2025 the Company has $100 million drawn and approximately $500 million of available liquidity under its $600 million credit facility.
Acquisition of 160-Bed Skilled Nursing Facility
An independent operating subsidiary of PACS has acquired the operations of a 160-bed skilled nursing facility in Las Vegas, Nevada. A subsidiary of the Company also acquired the facility’s real estate. With this acquisition, PACS’s portfolio now comprises 321 healthcare operations across 17 states.
https://www.businesswire.com/news/home/20251201432180/en/PACS-Group-Announces-Business-Updates
