(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.
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