PACS Group Announces Chief Legal Officer Transition

SALT LAKE CITY--(BUSINESS WIRE)--Sep 21, 2026--

PACS Group, Inc. (“PACS” or the “Company”) announced today that John Mitchell has retired, effective Sept. 18, 2026, from his position as Chief Legal Officer and Corporate Secretary. Following his retirement, Mitchell will serve as a consultant to PACS to support an orderly leadership transition.

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The Company has selected Patrick J. Murphy to succeed Mitchell as Chief Legal Officer and Corporate Secretary, effective September 21, 2026. Murphy will oversee PACS’s legal function and provide counsel in support of their operations and strategic priorities.

“John has been far more than our Chief Legal Officer; he’s been a trusted advisor, valued colleague, and steady leader through an important period in PACS’s history,” said Jason Murray, PACS’s Chairman and CEO. “His judgment, integrity, and thoughtful counsel have helped us navigate growth and change while remaining focused on our mission. We are grateful that John will continue to support PACS as a consultant, and we wish him the very best in retirement.”

Mitchell joined PACS in 2017, managing the legal department and supporting organizational growth and their IPO. Before joining the Company, he held various positions in healthcare and health services, international law, corporate law, finance, and mergers and acquisitions.

“It’s been a privilege to work alongside so many talented people and to support PACS during a remarkable period of growth,” said Mitchell. “I’m proud of what our legal team has accomplished and grateful for the relationships I’ve built throughout the organization. I look forward to supporting Pat and the Company during this transition.”

Murphy brings more than two decades of senior in-house and public-sector legal experience to PACS. He joins PACS from the global law firm of King & Spalding where he was a Partner in their Special Matters Practice Group. Previously, he spent 20 years in General Electric’s legal department, including five years in its Corporate Litigation group and nearly 15 years as Global Chief Litigation Counsel for GE Healthcare. He also served as a Senior Vice President Legal and Global Chief Litigation Counsel for Fresenius Medical Care and has advised companies, boards and senior executives on complex litigation, corporate investigations, government enforcement and compliance matters.

Murphy’s public-service experience includes serving as Chief Counsel to the Crime and Technology Unit of the U.S. Senate Judiciary Committee Majority Staff and as Assistant General Counsel to the FBI. He began his legal career as a Judge Advocate in the U.S. Marine Corps, attaining the rank of Major, and later was recalled to active duty in the wake of 9/11 to the Pentagon and Guantanamo Bay to serve as a liaison between the Secretary of Defense’s Office and the Solicitor General’s Office on all terrorism-related litigation.

“Pat brings an exceptional combination of healthcare, corporate, regulatory, and public-sector legal experience,” Murray said. “His ability to address complex legal matters while serving as a strategic partner to organizational leaders makes him well suited to guide our legal function. I’m excited to welcome him to PACS and we’re confident he’ll build upon the strong foundation John and our legal team have established.”

“I’m honored to join PACS and support an organization committed to empowering local leaders and delivering high-quality post-acute care,” Murphy said. “I look forward to working with Jason, the leadership team, the Board, and colleagues across PACS as they continue to grow and advance their mission.”

About PACS™ Group, Inc. — PACS Group, Inc. (NYSE: PACS) is a holding company investing in post-acute healthcare facilities, professionals, and ancillary services. Founded in 2013 and headquartered in Salt Lake City, Utah, PACS is one of the largest post-acute platforms in the United States. Its independent subsidiaries operate 355 post-acute care facilities across 20 states serving more than 33,400 patients daily. PACS business support division, PACS Services, provides technology and administrative support services — accounting, finance, human resources, compliance, payroll, AR/AP, legal, risk management, information technology, corporate communication, and other business advice and support — to their healthcare facilities, reducing administrative burdens so their leadership and care teams can focus on the care, well-being, and quality of life of their patients and residents. PACS has been recognized by Utah Business magazine as one of Utah’s Best Companies to work for, back-to-back, in 2022 and 2023. They’ve also been recognized as one of Utah’s Fastest Growing Companies; they ranked #25 in 2022, and #9 in 2023. For more information, visit www.pacs.com or ir.pacs.com.

About Patrick J. Murphy — Patrick J. Murphy joined PACS in September 2026, bringing more than 20 years of senior legal leadership experience spanning healthcare, public companies, government and private practice. Pat will oversee PACS’s legal functions and advise the company on operational, regulatory and strategic matters. Prior to joining PACS, he was a Partner in King & Spalding’s Special Matters Practice Group. Before that, he spent two decades with General Electric, including nearly 15 years as Global Chief Litigation Counsel for GE Healthcare, and later served as Senior Vice President Legal and Global Chief Litigation Counsel for Fresenius Medical Care. Throughout his career, he has advised organizations, boards and executives on complex litigation, government investigations, enforcement actions and compliance matters. His public-service experience includes serving as Chief Counsel to the Crime and Technology Unit of the U.S. Senate Judiciary Committee Majority Staff and as Assistant General Counsel to the FBI. Murphy began his career as a U.S. Marine Corps Judge Advocate, attaining the rank of Major. Outside of work, Pat’s an avid football and rugby fan, and enjoys training for triathlons.

Patrick J. Murphy, PACS Group's newly appointed Chief Legal Officer

NEW YORK (AP) — Wall Street climbed to the edge of its all-time high on Monday, and stocks rallied worldwide after oil prices and yields in the bond market surrendered their market-rattling gains from last week.

The S&P 500 jumped 1.5% and pulled within 0.4% of its record set last month. The Dow Jones Industrial Average added 366 points, or 0.7%, and the Nasdaq composite leaped 2.3% to its own all-time high as chip stocks and other companies in the artificial-intelligence industry led the way.

Stocks got help from the price for a barrel of Brent oil falling 3.4% to $100.34. While that’s still much higher than its roughly $72 price from earlier this summer, it’s down from the nearly $110 it touched last week.

Oil prices have been swinging up and down as some crude from the Middle East is able to sail through the Strait of Hormuz to get to customers, though nowhere near as much as the industry would like because of the war with Iran.

With big U.S. companies continuing to deliver strong growth in profits that support their stock prices, Morgan Stanley’s Michael Wilson says another leg higher in prices for oil, gasoline and other refined products is the main near-term risk he sees that could keep the U.S. stock market from rising to his forecasted target for the year’s end.

The average price for a gallon of regular gasoline across the United States has already climbed to nearly $4.48, according to AAA. That’s up from less than $4.32 just a week earlier and from $3.18 a year ago.

Monday’s pullback in oil prices helped lower the pressure coming from the bond market. The yield on the 10-year Treasury eased to 4.95% from 5.01% late Friday after crossing above the 5% threshold last week for the first time since 2023.

Yields have been on the rise because of worries about inflation, big debt loads for governments worldwide and other factors. That hurts the economy because high yields make it more expensive not only for the U.S. government to borrow money to pay its bills but also for households and businesses.

Worries remain about how much oil is available for customers worldwide. But ING commodities strategists Ewa Manthey and Warren Patterson wrote in a commentary on Monday that profit-taking by investors after the recent jump in oil prices, together with hopes for discussions at this week’s U.N. General Assembly and at a meeting between China’s and the United States’ leaders, helped improve optimism.

U.S. Treasury Secretary Scott Bessent told reporters following talks Sunday with Chinese Vice Premier He Lifeng in New York that the U.S. had “a very successful engagement” with the Chinese side.

In Beijing, China’s Foreign Ministry on Monday confirmed that Xi Jinping will pay a state visit to the United States between Sept. 23 and 25. Experts and policymakers believe trade, tariffs and AI safety are likely among the topics to be on the agenda.

On Wall Street, AI stocks continued to strengthen following their worldwide slide at the start of last week. Leaders of the industry have recently warned a slowdown is needed in the industry’s development for the safety of humanity.

Even if the industry leans into more measures for safety, some analysts say it will still be hungry for chips to power it all. Advanced Micro Devices rallied 9.9% and saw its total market value hit $1 trillion, while Nvidia added 2.3%.

Stocks enmeshed in the cryptocurrency industry, meanwhile, rallied after bitcoin’s price rose above $86,000 and returned to where it was in January. Coinbase Global climbed 3.5%, and Robinhood Markets rose 2.9%.

Warner Bros. Discovery leaped 10.8% after 12 states and Hollywood writers challenging its buyout by Paramount agreed to settle their lawsuits. Paramount Skydance fell 2.9%.

All told, the S&P 500 rose 114.20 points to 7,764.70. The Dow Jones Industrial Average added 366.19 to 52,048.83, and the Nasdaq composite climbed 599.55 to 27,122.09.

Stock indexes around the world also climbed thanks to the easing of oil prices and bond yields. Indexes gained 0.9% in France, 1.2% in Hong Kong and 1.6% in South Korea.

AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Sept. 16, 2026. (AP Photo/Seth Wenig)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) in the foreign exchange dealing room at the Hana Bank headquarters in Seoul, South Korea, Monday, Sept. 21, 2026. (AP Photo/Ahn Young-joon)

Currency traders work in the foreign exchange dealing room at the Hana Bank headquarters in Seoul, South Korea, Monday, Sept. 21, 2026. (AP Photo/Ahn Young-joon)

A screen shows the Korea Composite Stock Price Index (KOSPI) in the foreign exchange dealing room at the Hana Bank headquarters in Seoul, South Korea, Monday, Sept. 21, 2026. (AP Photo/Ahn Young-joon)