Private equity firms Ares Management Corp. of Century City and Leonard Green & Partners of West Los Angeles partnered last week to purchase health care provider Press Ganey Associates Inc. from Swedish private equity giant EQT Partners. Financial details of the transactions were not disclosed.
Patrick Ryan, executive chairman of South Bend, Ind.-based Press Ganey said ownership by Ares and Leonard Green will allow his firm to invest in product innovation and make acquisitions.
The transaction is expected to close in the third quarter of 2019.
Press Ganey works with more than 41,000 healthcare facilities to reduce patient suffering and improve the overall safety, quality and experience of care.
“Press Ganey is a best-in-class provider of transformational solutions for the healthcare industry and we look forward to supporting them as they develop new innovations that improve patient care,” Pete Zippelius, a partner at Leonard Green said in a statement.
For reprint and licensing requests for this article, CLICK HERE.