Omega Healthcare Investors, Inc. announced on October 5, 2026, that it has transitioned the operations of 32 skilled nursing facilities in Florida to subsidiaries of PACS Group, Inc. The transition, which took effect on October 1, 2026, involved moving the facilities from an operator managed by affiliates of Airamid Health Services, LLC to PACS Group.
Under the terms of the new arrangement, the portfolio will be added to Omega’s existing master lease with PACS. The company stated that rent on this portfolio is scheduled to increase by $26.1 million in the first year and by an additional $2.5 million in the second year, with contractual 2% escalators applied thereafter.
In conjunction with this transition, Omega incurred a one-time expense of approximately $90 million. The company noted that this transaction represents an example of its active portfolio management efforts.
Omega’s Chief Executive Officer, Matthew Gourmand, and Chief Investment Officer, Vikas Gupta, provided comments regarding the deal. Mr. Gourmand stated that the transaction was structured to be highly accretive for shareholders while addressing the needs of the operators and supporting continued quality of care. Mr. Gupta noted that Omega has enjoyed an excellent relationship with the team at Airamid for over 15 years and expressed excitement about growing its relationship with PACS, citing the operator’s focus on clinical care and its entry into the state of Florida.
