Omega to Transition Operations of 32 Facilities in Florida to PACS Group
Business Wire•05/10/2026•02:00 ET
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Key Highlights
- ➤32 Florida skilled nursing facilities transitioned from Airamid affiliates to PACS subsidiaries
- ➤Year-one rent scheduled to increase $26.1 million, plus $2.5 million in year two
- ➤Portfolio added to Omega’s existing master lease with PACS
- ➤Omega incurred approximately $90 million in one-time expenses
- ➤Contractual rent escalators set at 2% thereafter
Expert Statements
Matthew Gourmand, Chief Executive Officer of Omega Healthcare Investors
“We have referenced our active portfolio management efforts in recent earnings calls, and this transition represents a perfect example of how we are able to structure a highly accretive transaction for our shareholders, while addressing the needs of two long-standing operators and supporting continued quality of care for residents. I am grateful to Vikas and the team, as well as both operators and their advisors, for their resolute and thoughtful approach to finding a solution that works for all parties.”
Vikas Gupta, Chief Investment Officer of Omega Healthcare Investors
“We have enjoyed an excellent relationship with the team at Airamid for over 15 years. They have been a valued partner, most notably weathering the clinical and economic challenges of the pandemic admirably. We are grateful to the team and wish them success in the future. At the same time, we are excited to grow our relationship with PACS. They have proven to be a highly capable operator of skilled nursing facilities, with a strong focus on clinical care, and we are excited to support their entry into the state of Florida.”
Omega to Transition Operations of 32 Facilities in Florida to PACS Group
Omega Healthcare Investors, Inc. (NYSE: OHI) (the “Company” or “Omega”) today announced that it transitioned 32 skilled nursing facilities in Florida from an operator managed by affiliates of Airamid Health Services, LLC (“Airamid”) to subsidiaries of PACS Group, Inc. (NYSE: PACS) (“PACS”). The effective date of the transition was October 1, 2026.
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