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Press Ganey Agrees to Ares Management, Leonard Green and Partners Buyout
Wednesday 12 June 2019

12 June 2019 - US-based healthcare industry safety, quality, patient experience and workforce engagement solutions provider Press Ganey Associates, Inc has entered into a definitive agreement to be acquired by private equity funds managed by Leonard Green and Partners, L.P. and affiliates of Ares Management Corp. (NYSE: ARES), the company said.
Terms of the deal were not disclosed. The transaction is subject to customary approvals and is expected to close in 3Q19.
Press Ganey pioneered the healthcare performance improvement movement more than 30 years ago. Today Press Ganey offers an integrated suite of solutions.
Delivered through a digital platform built on a foundation of data security, Press Ganey solutions address safety, clinical excellence, patient experience, and workforce engagement.
The company works with more than 41,000 healthcare facilities in its mission to reduce patient suffering and enhance caregiver resilience to improve the overall safety, quality, and experience of care.
Ares Management is an alternative asset manager with approximately USD 137bn of assets under management as of March 31, 2019 and 18 offices in the United States, Europe, Asia and Australia.
Leonard Green and Partners, L.P. is a private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies.
Since inception, LGP has invested in over 90 companies in the form of traditional buyouts, going-private transactions, recapitalisations, growth equity, and selective public equity and debt positions.
Barclays and Goldman Sachs are acting as financial advisors to Press Ganey.
Date Published: 12/06/2019
Target: Press Ganey Associates, Inc
Country: USA
Sector: Healthcare
Type: LBO
Financing: Cash
Status: Agreed
Buyer: Funds managed by Leonard Green and Partners, affiliates of Ares Management
Terms of the deal were not disclosed