EQT to exit Press Ganey
Summary
EQT VII to sell Press Ganey, a leading provider of safety, quality, patient experience and workforce engagement solutions for healthcare organizations in the US, to a consortium of funds managed by affiliates of Ares Management Corporation, Leonard Green & Partners, and other co-investors – During EQT’s ownership, Press Ganey has enhanced its position as the key thought leader and partner to US healthcare organizations in helping them transform care and achieve improved financial, operational and clinical performance – The sale of Press Ganey marks the first portfolio company exit by EQT’s US Private Equity strategy STOCKHOLM, June 11, 2019 /PRNewswire/ — The EQT VII fund (“EQT” or “EQT VII”) has entered into an agreement to sell Press Ganey (“the Company”) to a consortium of funds managed by Leonard Green & Partners, L.P. (“LGP”), affiliates of Ares Management Corporation (NYSE: ARES), and other co-investors. Together with the management team, EQT has supported Press Ganey in its journey to transform healthcare through measurement, integrated analytics, and advisory services. With EQT’s support, Press Ganey introduced its integrated suite of transformational solutions and developed PGO 2.0, the Company’s next generation digital platform, enabling cross domain analytics across the continuum of care. It has been a pleasure to partner with the management team, which has done a fantastic job in continuing to advance thought leadership and product innovation across the industry.” The transaction is subject to customary approvals and is expected to close in the third quarter of 2019. The company offers a comprehensive portfolio of solutions to help clients operate efficiently, improve quality, increase market share and optimize reimbursement.
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