Press Ganey, which provides patient survey and advisory services to healthcare organizations, announced terms for its IPO on Monday. It is officially on file under the name PGA Holdings.
The Wakefield, MA-based company plans to raise $205 million by offering 8.9 million shares at a price range of $22 to $24. At the midpoint of the proposed range, Press Ganey would command a fully diluted market value of $1.2 billion and an enterprise value of $1.5 billion.
Press Ganey, which was founded in 1985 and booked $291 million in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol PGND. Barclays, Goldman Sachs, William Blair and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of May 18, 2015.
