PACS co-founder and CFO retires after overseeing company's 160-fold growth

By Chris Stiles • Tuesday, April 28 03:24 • Permanent Link

PACS Group said co-founder and first chief financial officer Mark Hancock will retire as an executive officer on June 30, 2026, after helping grow the company from two post-acute care facilities in San Diego in 2013 to 323 facilities across 17 states.

The company said the expansion represents a more than 160-fold increase in its facility count. PACS said its network now serves more than 31,700 patients daily, and full-year 2025 revenue reached $5.29 billion, up 29.3% from the prior year.

Hancock will remain on PACS’s board as vice chairman after stepping down from day-to-day duties.

The company also named Carey P. Hendrickson as its new chief financial officer. Hendrickson brings nearly four decades of financial leadership experience, including CFO roles in healthcare, senior living and media.

PACS said Hancock helped position the company for its initial public offering in April 2024 and later returned as interim CFO in September 2025 to provide continuity of financial leadership. The market has reacted to these announcements by moving the company's shares 1.08% to a price of $35.43. For the full picture, make sure to review PACS's 8-K report.

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