Houlihan Lokey Advises Prestige Care

Houlihan Lokey is pleased to announce the successful sale of 37 facilities owned by Prestige Care, Inc. (Prestige), a leading post-acute healthcare company owned by the Delamarter family, to a joint venture between a privately held healthcare real estate investment firm and PACS Group, Inc. (PACS). The transaction closed in two tranches, on August 1, 2024, and September 1, 2024.

The transaction also included the transfer of operations at 16 additional leased facilities that were operated by Prestige. Subsidiaries of PACS now operate the 53 total facilities included in the transaction, which covered eight states, including Oregon (21 facilities), Washington (19 facilities), Idaho (6 facilities), Nevada (3 facilities), and one facility each in Alaska, Arizona, California, and Montana, and collectively comprise 2,511 skilled nursing beds and 1,334 assisted living and independent living units.

This transaction demonstrates Houlihan Lokey’s continued success across post-acute. Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the world. In 2023, the group closed 34 transactions and was ranked by LSEG (formerly Refinitiv) as the No. 1 M&A advisor globally for healthcare transactions.

Houlihan Lokey served as the exclusive financial advisor to the company and assisted in initiating, structuring, and negotiating the transaction on its behalf.

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