PACS Group, Inc. Appoints Carey P. Hendrickson as Chief Financial Officer

Carey P. Hendrickson will replace Mark Hancock, PACS’s co founder and Executive Vice Chairman who has been serving as interim CFO since September 2025. Hancock will retire from his executive role by June 30, 2026 but will remain on the company’s Board of Directors as Vice Chairman.

Most recently, Carey P. Hendrickson served as CFO of U.S. Physical Therapy, Inc., which operates 779 outpatient physical therapy clinics across 44 states. In this role, he managed all areas of the company’s finances, including accounting, SEC reporting, financial planning, treasury, investor relations, contract negotiations, revenue cycle management, shared services, taxes, and human resources.

During his time there, he secured a new credit agreement that increased the company’s borrowing capacity extended repayment timelines and improved financial flexibility. He also led due diligence and integration efforts for more than 20 acquisitions.

Before joining U.S. Physical Therapy, Inc., Carey P. Hendrickson was Executive Vice President and CFO of Capital Senior Living Corporation, a major senior living operator with 128 communities and nearly 12,000 residents across 23 states. During his six years there, he gained strong experience working in a highly regulated, reimbursement-driven environment that closely aligns with the skilled nursing and post-acute care sectors. He helped the company exit underperforming leases, reducing future obligations by more than $250 million, and led financial integration across a large, multi-state portfolio.

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“PACS has built something truly exceptional in post-acute care — a platform with an unwavering commitment to quality, a remarkable culture of leadership, and a growth story that is both compelling and sustainable,” said Mr. Hendrickson. “I’ve spent much of my career in healthcare and senior care, and I know firsthand how difficult it is to build an organization that consistently delivers clinical excellence at this scale. I’m grateful to join the PACS executive management team and look forward to contributing to the company’s mission.”

“Carey’s experience leading finance functions across multiple public healthcare companies gives him a perspective that’s both broad and deeply relevant to what we do every day at PACS. He stood out in every way during our CFO search,” said Mr. Hancock. “I’m proud of what we’ve built, and I’m confident that Carey will be an extraordinary partner to the leadership team and a tremendous asset to the company and our industry. I look forward to watching PACS continue to grow from my seat on the Board.”

“Carey has spent his career building the financial infrastructure of complex, regulated healthcare organizations, and earning the trust of boards, analysts, and investors through transparency and consistent execution,” said Murray. “He’s one of the most accomplished public company CFOs in the healthcare services sector; he knows the world of senior and post-acute care from the inside; and he’s led M&A at organizations whose residents look a great deal like the patients we serve at PACS every day. That background is earned through years of doing the work. Carey has done the work, and he has done it exceptionally well.

“He’s a person of extraordinary integrity and character, and he joins PACS at a moment when our growth trajectory demands exactly the kind of senior financial leadership that he’s demonstrated throughout his career, and we’re honored to welcome him to our team.”

“We’re thrilled to welcome Carey to the PACS family as our Chief Financial Officer,” said Jason Murray, Chairman and CEO of PACS Group. “Carey is exactly the kind of leader we were looking for at PACS. He’s a seasoned public company CFO who’s navigated complex healthcare operating environments, delivered results across every market cycle, and built the financial infrastructure that growing organizations need to sustain excellence at scale. At the same time, I’m incredibly grateful for Mark’s leadership and vision at PACS since its founding in 2013. His continued contribution on the Board of Directors will be invaluable.”

About PACS Group, Inc

Founded in 2013 by Jason Murray and Mark Hancock, PACS Group, Inc. is one of the largest post-acute healthcare platforms in the United States. Headquartered in Salt Lake City, Utah, the company supports post-acute care facilities, professionals, and related services, with its independent subsidiaries operating more than 320 facilities across 17 states and serving over 31,700 patients daily, all to improve the delivery, leadership, and quality of post-acute care nationwide.

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