Patient Survey Company Press Ganey Is Nearing a Deal to Sell Itself
09 August 2016 - 9:50PM
Dow Jones News
Press Ganey Holdings Inc., which conducts patient satisfaction
surveys for health-care providers, is nearing a deal to sell
itself, according to people familiar with the matter.
A deal for Press Ganey could be announced in the coming weeks,
the people said. It isn't clear what price Press Ganey would fetch.
The Wakefield, Mass.-based company has a market value of about $2.1
billion.
Swedish private-equity firm EQT is considered a front-runner to
buy Press Ganey, some of the people said, but the sale process has
attracted other suitors who could make a higher offer.
As with all sale processes, there's no guarantee a deal will be
reached.
While merger activity this year has been muted compared with
2015's record-breaking volumes, deal-making has remained active in
the health-care services and technology sectors. In June, Envision
Healthcare Holdings Inc. and AmSurg Corp. agreed to merge in a deal
that will bring the two ambulatory surgery companies together. The
same month, health-care giant McKesson Corp. said it would combine
most of its technology segment with the bulk of Change Healthcare
Holdings Inc.
Press Ganey monitors patient satisfaction for health-care
providers such as hospitals and doctor's offices through surveys,
strategic consulting and other products. The company raised about
$233 million in a May 2015 initial public offering, and its shares
have risen sharply since. They closed Monday at $40.33 Monday, 61%
over their IPO price.
The company last week reported second-quarter profit of $7.9
million, up from a loss of $53.8 million in the year-earlier
period. Sales rose 17.7% to $91.2 million.
EQT, founded in 1994 by Sweden's billionaire Wallenberg family,
owns around 70 companies globally, according to the firm's
website.
Write to Dana Mattioli at dana.mattioli@wsj.com and Eyk Henning
at eyk.henning@wsj.com
(END) Dow Jones Newswires
August 09, 2016 07:35 ET (11:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
PRESS GANEY HOLDINGS, INC. (NYSE:PGND)
Historical Stock Chart
From Jan 2025 to Feb 2025
PRESS GANEY HOLDINGS, INC. (NYSE:PGND)
Historical Stock Chart
From Feb 2024 to Feb 2025
