SINGAPORE (July 29): The acquisition of Press Ganey Associates by a consortium of investors which included GIC, Singapore’s sovereign wealth fund, was completed on Friday.
Press Ganey Associates is better known as a developer and distributor of patient satisfaction surveys and currently works with more than 41,000 healthcare facilities across the United States.
Private equity funds managed by global alternative asset manager Ares Management Corporation (Ares) and private equity investment firm Leonard Green & Partners (LGP) led the acquisition.
Other co-investors included British Columbia Investment and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (AIDA).
Seller EQT had entered into a sale agreement with the consortium on June 11 which was slated for completion in 3Q19.
Terms of the transaction were not disclosed.
Patrick T Ryan, Executive Chairman of Press Ganey, says, “We are excited to work with Ares and LGP, two of the leading private equity firms worldwide, to expand on our vision to improve the overall experience of care through innovative solutions and complementary acquisitions.”
Pete Zippelius, a partner at LGP, says, “We look forward to supporting Press Ganey’s mission through expansion of their transformational portfolio, which has potential for broad application across the healthcare industry.”
