Press Ganey sells to EQT for $2.35B

South Bend, Ind.-based Press Ganey Holdings plans to sell to Swedish private equity firm EQT for $2.35 billion, according to the Wall Street Journal.

EQT will pay $40.50 a share for Press Ganey. The companies expect to close the deal in the fourth quarter.

The deal also includes a "go-shop" period during which Press Ganey is able to solicit other potential offers.

Press Ganey conducts patient satisfaction surveys for healthcare providers. The company reported second quarter profit of $7.9 million, up from a $53.8 million loss in a year earlier, according to the WSJ. Shares closed at $40.33 Monday.

Swedish company EQT was founded in 1994 and owns nearly 70 companies globally, according to the report.

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