Press Ganey to be Acquired by Equity Firm EQT | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Press Ganey to be Acquired by Equity Firm EQT

August 9, 2016
by Rajiv Leventhal
| Reprints

Press Ganey, the South Bend, Ind.-based healthcare consulting and solutions firm, is being acquired by Swedish private equity group EQT in a deal valued at about $2.35 billion.

Press Ganey, known best for providing patient satisfaction surveys, management reports, and national comparative databases for the healthcare delivery system, was founded in 1985 and went public in May 2015. EQT will pay $40.50 in cash per Press Ganey share, for a 20 percent premium of the stock's year-to-date volume-weighted average price, or a 62 percent premium over its initial public offering issue price. The deal is expected to close in the fourth quarter.

Press Ganey has worked with industry groups such as the American Medical Group Association (AMGA) and the American Medical Association (AMA) to develop survey content, methodology, and recommended distribution methods to assess the effectiveness of coordination of care and measure the satisfaction of patients.

Press Ganey shares were flat in premarket trade, but have gained 28 percent in the year to date, while the S&P 500 has gained about 7 percent.

Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.

Learn More

Topics

News

Survey: Infrastructure, Interoperability Key Barriers to Global HIT Development

A new survey report from Black Book Research on global healthcare IT adoption and records systems connectivity finds nations in various phases of regional electronic health record (EHR) adoption. The survey results also reveal rapidly advancing opportunities for U.S.-based and local technology vendors.

Penn Medicine Opens Up Telehealth Hub

Philadelphia-based Penn Medicine has opened its Center for Connected Care to centralize the health system’s telemedicine activities.

Roche to Pay $1.9B for Flatiron Health

Switzerland-based pharmaceutical company Roche has agreed to pay $1.9 billion to buy New York-based Flatiron Health Inc., which has both an oncology EHR and data analytics platform.

Financial Exec Survey: Interoperability Key Obstacle to Value-Based Payment Models

Momentum continues to grow for value-based care as nearly three-quarters of healthcare executives report their organizations have achieved positive financial results from value-based payment programs, to date, according to a new study from the Healthcare Financial Management Association (HFMA).

Cerner, Children's National to Help UAE Pediatric Center with Health IT

Al Jalila Children's Specialty Hospital, the only pediatric hospital in the United Arab Emirates, has entered into an agreement with Washington, D.C.-based Children's National Health System to form a health IT strategic partnership.

Telemedicine Association Names New CEO

The American Telemedicine Association (ATA) has named Ann Mond Johnson its new CEO, replacing Jon Linkous who stepped down suddenly last August after 24 years as the organization’s CEO.