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Ares, Leonard Green Near Deal for EQT's Press Ganey

Nabila Ahmed and Davide Scigliuzzo

(Bloomberg) -- A private equity consortium led by Ares Management Corp. and Leonard Green & Partners is close to buying health-survey business Press Ganey Associates Inc. in a deal that could be valued at more than $4 billion, according to people with knowledge of the matter.

Press Ganey, which is owned by the private equity firm EQT Partners, had been working with advisers on a sale process for a couple of months, the people said, asking not to be identified because the matter is private.

If talks are successful, the deal could be announced as soon as Tuesday, the people said. It’s possible that an agreement might not be reached, they added.

Representatives for EQT and Leonard Green declined to comment. Representative for Ares and Press Ganey didn’t immediately respond to requests for comment.

The company provides surveys that hospitals use to measure patient satisfaction and the quality of care. It also helps health-care providers analyze and improve their services. EQT took Press Ganey private in 2016 in a $2.3 billion deal. The company has about $1.2 billion in debt, according to data compiled by Bloomberg.

--With assistance from Gillian Tan.

To contact the reporters on this story: Nabila Ahmed in New York at nahmed54@bloomberg.net;Davide Scigliuzzo in New York at dscigliuzzo2@bloomberg.net

To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, ;Natalie Harrison at nharrison73@bloomberg.net, Liana Baker, Michael Hytha

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