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2024.04.02 11:08
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American healthcare giant PACS IPO pricing may reach as high as $22 per share, with an estimated valuation of around $3.2 billion USD

The company plans to issue 19.1 million shares of stock at a price of $20 - $22 per share, raising $400 million. Based on the midpoint of the proposed range, PACS Group's fully diluted market value will reach $3.2 billion

Source: Wise Finance.

Wise Finance has learned that on Monday, PACS Group (PACS.US), a post-acute care provider with over 200 nursing facilities in the United States, announced its IPO terms. The company plans to issue 19.1 million shares at a price of $20 - $22 per share, raising $400 million. Based on the midpoint of the proposed range, PACS Group's fully diluted market value will reach $3.2 billion.

PACS Group is a post-acute healthcare company that focuses on providing skilled nursing services through a series of independently operated facilities. The company stated that by facility count, it is one of the largest skilled nursing providers in the United States, with 208 post-acute care facilities in 9 states, serving over 20,000 patients daily. As of December 31, 2023, it leased 165 facilities, owned the real estate of 29 facilities directly, and held partial interests in an additional 14 facilities through third-party managed joint ventures. PACS also offers advanced care, assisted living, and independent living options in some communities.

Founded in 2013, PACS Group had revenue of $3.1 billion for the 12 months ended December 31, 2023. The company plans to list on the New York Stock Exchange under the ticker symbol PACS, with pricing expected during the week of April 8, 2024. Citigroup, JP Morgan, Truist Securities, RBC Capital Markets, and Goldman Sachs are the joint bookrunners for this transaction