Qualtrics, the AI-powered customer survey software maker, has agreed to acquire healthcare research company Press Ganey Forsta in a transaction valued at $6.75 billion. The deal underscores the tech sector’s race to secure proprietary datasets to advance artificial intelligence models.
The acquisition will provide Qualtrics with access to Press Ganey’s extensive ties to hospitals and its vast healthcare datasets. These resources are expected to help providers better monitor patient satisfaction and improve care delivery.
Press Ganey, backed by Ares Management and private equity firm Leonard Green & Partners, works with more than 41,000 hospitals, health plans, and life sciences organizations. It integrates patient and caregiver feedback with clinical and safety data to deliver insights to healthcare organizations.
The transaction will be settled through a mix of cash and stock in privately held Qualtrics. Owned by Silver Lake, Qualtrics serves global enterprises, governments, and universities with tools for customer, employee, product, and brand experience measurement. Clients include Microsoft, BMW, and the U.S. Department of Homeland Security.
SAP originally bought Qualtrics in 2018 for $8 billion, before selling its majority stake in 2023 to Silver Lake and the Canada Pension Plan Investment Board in a $12.5 billion deal.
Source: Reuters
