Press Ganey, which provides patient survey and advisory services to healthcare organizations, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $300 million. It officially filed under the name PGA Holdings.
The Wakefield, MA-based company, which was founded in 1985 and booked $282 million in sales for the 12 months ended December 31, 2014, plans to list on the NYSE. It did not disclose a proposed symbol. The company initially filed confidentially on February 12, 2015. Barclays, Goldman Sachs and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
