Press Ganey to be acquired by private-equity firm EQT in $2.35 billion deal

Press Ganey , which offers performance analytics to health care companies, said it has entered an agreement to be acquired by private-equity firm EQT in a deal with an enterprise value of about $2.35 billion. EQT will pay $40.50 in cash per Press Ganey share, for a 20% premium of the stock's year-to-date volume-weighted average price, or a 62% premium over its initial pubic offering issue price. The deal is expected to close in the fourth quarter. Press Ganey shares were flat in premarket trade, but have gained 28% in the year to date, while the S&P 500 has gained about 7%.

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