Navigation Links
Press Ganey Takes on New Investment Partner
Date:1/30/2008

Management and Vestar Capital Partners Purchase Interest from American

Securities Capital Partners

SOUTH BEND, Ind. and NEW YORK, Jan. 30 /PRNewswire/ -- Press Ganey Associates, Inc., the leading provider of health care performance improvement solutions, announced today that Vestar Capital Partners (Vestar) has agreed to purchase a majority interest in the Company from long-time investor American Securities Capital Partners, LLC (ASCP). The Press Ganey management team, who invested alongside American Securities, will remain in place and will continue to be substantial investors in the business.

Press Ganey provides quality improvement solutions to more than 40 percent of all U.S. hospitals and more than 7,000 health care facilities nationwide. The Company helps hospitals, medical practices, home care agencies, and other health care providers enhance organizational outcomes including patient perceptions, patient safety, employee engagement, physician relations, clinical outcomes, and financial results.

Melvin F. Hall, Ph. D., President & CEO of Press Ganey, said, "The fundamental challenge of America's health care system is to provide the highest quality of care with the best possible patient outcomes at the lowest cost. Press Ganey helps accomplish these goals by providing health care providers with comprehensive services to measure, benchmark, and improve upon the delivery of health care. Vestar is firmly committed to the company's mission and culture, and their investment is a validation of our efforts to improve the quality of health care and recognizes the strong growth and loyalty we have built with our clients."

"Press Ganey sits squarely at the intersection of two of the most important trends in health care for the next decade: consumerism and health care quality. We are pleased to partner with an organization and management team who are shaping tomorrow's health care landscape," said Roger C. Holstein, Vestar Managing Director. "Our long-term investment will provide Press Ganey with substantial capital resources to enhance their award-winning IT capabilities, deploy innovative solutions, extend its best-in-class customer service, and ultimately meet the changing and growing needs of health care."

Commenting on their work with Press Ganey, Glenn Kaufman, Managing Director of American Securities said, "Over the last five years we have worked in true partnership with a world-class team, introducing into health care the science of predictive analysis to drive improvement in quality and the overall delivery of care. We are delighted that our efforts, resources and investment to support Press Ganey's expansion of capabilities have positioned it at the epicenter of both the consumerism and transparency movements in health care. It has been tremendous to impact health care in such a powerful way while also supporting the growth of what we believe is now one of the best-positioned businesses in the industry. To have accomplished all that while building the quality long-term relationships and friendships we deeply value meets every one of our investment goals."

"We are proud of our achievements and appreciate the support of American Securities over the past several years," added Dr. Hall. "They have been outstanding partners who have helped us transition from an independent, entrepreneurial business to a company with best-in-class infrastructure, technology, and operations while maintaining our entrepreneurial edge."

Press Ganey joins Vestar's growing portfolio of health care services companies. The portfolio of 7 companies includes the pending Radiation Therapy Services acquisition as well as National Mentor Holdings, DynaVox Systems, Essent Health care, Joerns Health care, Sunrise Medical, and MediMedia USA.

"Vestar's investment in Press Ganey reflects the national priority of better quality health care in America, and with this important investment Vestar intends to remain at the center of opportunities in this critical area," Holstein concluded.

The transaction, which is subject to customary closing conditions, is expected to close during the first quarter of 2008. Terms were not disclosed.

Press Ganey Associates, Inc.

For more than twenty years, Press Ganey has been committed to providing insight that allows health care organizations to improve the quality of care they provide. The company offers the largest comparative customer feedback databases, actionable data, solution resources, and unparalleled customer service. Press Ganey currently partners with more than 7,000 health care facilities -- including over 40% of U.S. hospitals -- to measure and improve the quality of their care. http://www.pressganey.com

Matt Mulherin

mmulherin@pressganey.com

574-234-8493

Vestar Capital Partners

Vestar Capital Partners is a leading international private equity firm. The firm's investment strategy is targeted towards companies in the U.S., Europe and Asia with valuations in the $100 million to $5 billion range. Since the firm's founding in 1988, the Vestar funds have completed over 60 investments in companies with a total value of over $20 billion. These companies have varied in size and geography and span a broad range of industries. The firm's strategy is to invest behind incumbent management teams, family owners, or corporations in a creative, flexible and entrepreneurial way with the overriding goal to build long-term franchise value. Vestar currently manages funds with committed capital totaling approximately $7 billion and has offices or affiliates operating in New York, Denver, Boston, Tokyo, Paris, Milan, and Munich. http://www.vestarcapital.com

Michael Claes

Michael.Claes@bm.com

212-614-5236

American Securities Capital Partners, LLC

American Securities Capital Partners (ASCP) is a New York based private equity firm that invests in market-leading companies in North America with annual revenues generally ranging between $100 million and $500 million. Investments are funded from $4 billion of committed capital that American Securities manages on a discretionary basis for its investors. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family's Sears, Roebuck & Co. fortune and today continues to invest largely on behalf of wealthy families and individuals. American Securities has offices in New York and Shanghai. http://www.american-securities.com.

Laura Brightsen

lbrightsen@american-securities.com

212-476-4967


'/>"/>
SOURCE Press Ganey Associates, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Blue Cross of California Launches Maternity Depression Program
2. American Chemical Societys weekly PressPac -- Jan. 23, 2008
3. Eating Healthy in the New Year? American Express Tastemakers Dish on the Top San Francisco Restaurants for Grabbing a Healthy Bite
4. NetSpend(R) and ACE Cash Express Customers Keep Thinking Pink With the All-Access(R) Visa(R) Prepaid Card Program
5. Genetic difference predicts antidepressant response
6. Genetics May Determine Antidepressants Effectiveness
7. Genetics Influence Blood Pressure Medications
8. Liver Cancer Drug Raises Blood Pressure
9. NEJM editorial on significance and limitations of new lupus gene expression research
10. Depression and anxiety can double chances of heart ailments
11. Jefferson scientists uncover role of cancer stem cell marker: controlling gene expression
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... Irving, Texas (PRWEB) , ... February 11, 2016 ... ... for plastic surgery, dermatology and women’s health, is pleased to announce the promotions ... Practice Development Partners sales team, Steve Catone to executive vice president of North ...
(Date:2/11/2016)... Washington, DC (PRWEB) , ... February 11, 2016 ... ... announce an upcoming Feb. 23 webinar, “Intel’s Direct-to-Employee Benefit Model: A Case Study ... a not-for-profit Catholic health care system that’s partnering with Intel on value-based health ...
(Date:2/11/2016)... ... February 11, 2016 , ... ... nominations seeking candidates for the Board of Commissioners. Individuals interested in volunteer board ... experience with diversity of clinical practice settings and across allied health to contribute ...
(Date:2/11/2016)... ... 2016 , ... PharmMD CEO Robert Yeager announced ... on contract negotiations, corporate strategy and healthcare data law. Additional responsibilities will include ... data breaches for the Part D Star Rating improvement and Medication Therapy Management ...
(Date:2/11/2016)... Orange City, FL (PRWEB) , ... February 11, ... ... has announced the commencement of a master charity program created to assist the ... every 60 days, working closely with nonprofit organizations and community leaders. Their hope ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... , Feb. 11, 2016  Proliant Biologicals is ... Bovine Serum Albumin (BSA) manufacturing facility.  The facility is ... Zealand , in Feilding. Boone ... done to functionally duplicate the systems in the U.S. ... vendors used for U.S. installations.  --> ...
(Date:2/11/2016)... February 11, 2016 Breast Cancer Therapeutics ... Asia-Pacific (APAC) breast cancer market will ... billion by 2021, at a Compound Annual Growth Rate (CAGR) ... Markets to 2021 - states that the ... expansion from $1.9 billion in 2014 to $3.4 billion by ...
(Date:2/11/2016)... NORTH CHICAGO, Ill. , Feb. 11, 2016 ... launch of the AbbVie Rheumatology Scholarship, designed to ... a rheumatologic disease as they pursue higher education ... $15,000 each for the 2016-2017 school year. The ... Tracie Haas , vice president, corporate ...
Breaking Medicine Technology: