Why Is PACS Group Stock Soaring Tuesday?

PACS Group, Inc. (NYSE: PACS ) stock climbed more than 7% on Tuesday after the company announced plans to expand its post-acute care portfolio through the acquisition of the operations of 34 skilled nursing facilities from Eduro Healthcare. Acquisition Expands Footprint The portfolio includes 3,633 skilled nursing beds across 22 facilities in Texas, six in Montana, three in South Dakota, and one facility each in New Mexico, North Dakota and Utah. Financial terms were not disclosed. “We’re thrilled to welcome these 34 facilities, as well as their staff and residents, to the PACS family,” said Chairman and CEO Jason Murray, while President and COO Josh Jergensen said the two companies share similar operating models and patient care philosophies. Eduro Managing Director Mike Bewsey said PACS was chosen for its commitment to preserving the company’s culture and sup...