EQT Completes Acquisition of Press Ganey
October 21 2016 - 9:20AM
Business Wire
Press Ganey Holdings, Inc. (NYSE:PGND) today announced the
completion of its acquisition by EQT Equity fund EQT VII (“EQT”),
part of the global private equity group EQT. Under the terms of the
agreement, Press Ganey shareholders will receive $40.50 in cash for
each share of Press Ganey common stock they hold.
The transaction was announced on August 9, 2016 and received
approval from Press Ganey shareholders on October 19, 2016. As a
result of the completion of the transaction, shares of Press Ganey
common stock were removed from listing on the New York Stock
Exchange (“NYSE”), with trading in Press Ganey shares suspended
prior to the opening of business today.
Barclays and Goldman Sachs served as financial
advisors to Press Ganey, and Latham & Watkins
LLP and Richards, Layton & Finger, PA served as legal
advisors to Press Ganey. BofA Merrill Lynch served as
financial adviser to EQT, and Simpson Thacher & Bartlett
LLP served as legal advisor to EQT Partners. Fully
committed financing of the transaction was provided by Credit
Suisse, Citi and BofA Merrill Lynch.
About Press Ganey
Press Ganey Holdings is a leading provider of patient experience
measurement, performance analytics and strategic advisory solutions
for health care organizations across the continuum of care.
Celebrating 30 years of experience, Press Ganey is recognized as a
pioneer and thought leader in patient experience measurement and
performance improvement solutions. Our mission is to help health
care organizations reduce patient suffering and improve clinical
quality, safety and the patient experience. As of January 1, 2016,
we served more than 26,000 health care facilities.
About EQT
EQT is a leading global private equity group with
approximately EUR 30 billion in raised capital. EQT has
portfolio companies in Europe, Asia and the US with
total sales of more than EUR 15 billion and circa 100,000
employees. EQT works with portfolio companies to achieve
sustainable growth, operational excellence and market
leadership.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161021005511/en/
For Press Ganey Holdings, Inc.:(Investors)Balaji Gandhi,
781-295-0390SVP, Corporate
DevelopmentIR@pressganey.comor(Media)Patricia Cmielewski,
781-234-8439Chief Marketing Officerpcmielewski@pressganey.comorFor
EQT:European Media:EQTKerstin Danasten, 46 8 506 55 334Press
Officerpress@eqtpartners.comorU.S. Media:KEKSTDaniel Yunger or Ross
Lovern,
212-521-4800daniel.yunger@kekst.com / ross.lovern@kekst.com
PRESS GANEY HOLDINGS, INC. (NYSE:PGND)
Historical Stock Chart
From Aug 2024 to Sep 2024
PRESS GANEY HOLDINGS, INC. (NYSE:PGND)
Historical Stock Chart
From Sep 2023 to Sep 2024