PACS Group operates a large network of skilled nursing facilities (SNFs) across multiple states, providing post-acute care including skilled nursing, rehabilitation therapy, and specialized transitional care for patients recovering from surgery, acute illness, and medical events. The company generates revenue primarily from Medicare and Medicaid payers, along with managed care and private-pay patients, and manages its operations through a locally led, centrally supported model in which individual facility administrators operate with autonomy while benefiting from centralized technology infrastructure, back-office support, and clinical oversight. PACS Group also generates revenue through adjacent senior-living services such as assisted living and independent living facilities, and pursues a disciplined acquisition strategy targeting underperforming facilities to transition them toward higher-acuity, short-term transitional care models, typically achieving above-industry-average quality ratings and occupancy rates at mature locations.