AI-powered customer survey leader Qualtrics announced its agreement to acquire healthcare analytics pioneer Press Ganey Forsta in a $6.75 billion transaction. This deal, confirmed on October 6, 2025, marks one of the largest consolidations in the Voice of the Customer (VoC) software market and highlights the growing importance of AI-driven data in transforming patient care.
Qualtrics, known for its cross-industry experience management platform, will gain access to Press Ganey’s extensive healthcare market research capabilities, which span over 41,000 hospitals, health plans, and life sciences organizations worldwide.
Press Ganey’s deep-rooted ties to the healthcare sector come with rich proprietary datasets that integrate patient and caregiver feedback with clinical and safety information.
Owned by private equity firms Silver Lake, Ares Management, and Leonard Green & Partners, Qualtrics has a strong foothold among global enterprises like Microsoft, BMW, and the U.S. Department of Homeland Security.
With this acquisition, Qualtrics injects significant healthcare-specific data and domain expertise into its broader AI-powered experience management ecosystem, positioning itself to offer healthcare providers tools that deliver measurable improvement in patient and employee experiences.
Expanding with AI
This acquisition arrives amid a rapid acceleration in the adoption of AI across industries. Both Qualtrics and Press Ganey are leveraging generative AI, data integration, and strategic partnerships with companies including Vizient and Epic to develop advanced predictive experience metrics and personalized care capabilities.
Qualtrics CEO Zig Serafin emphasized, “Bringing Qualtrics and Press Ganey Forsta together will accelerate the adoption of AI and create the most comprehensive platform for improving the human experience. There’s no more important proving ground than healthcare, where better experiences for patients and employees directly impact outcomes and quality of care.”
Press Ganey Chairman and CEO Patrick T. Ryan echoed the sentiment, stating, “This investment ignites our ability to deliver critical advancements that will elevate the human experience, driving greater safety, trust, and value for millions of patients, consumers, and employees worldwide.” Their shared vision aims to move companies from insight to impact faster through AI-enhanced workflows and analytics.
Founded in 1985, Press Ganey has long been synonymous with patient satisfaction and healthcare performance analytics. The company expanded its business scope after acquiring Forsta in 2022, venturing into financial services, retail, and hospitality sectors. Press Ganey Forsta’s Human Experience Platform integrates patient, customer, employee, and market research data with AI-driven insights, fueling continuous improvement for healthcare providers globally.
Trusted by 41,000 healthcare providers across 30 countries, Press Ganey specializes in actionable intelligence that respects regulatory compliance and clinical protocols. The merger will empower providers to enhance patient and employee experiences while improving retention, morale, and health outcomes.
Industry Support
Valued at $6.75 billion, the deal includes a combination of cash and privately held Qualtrics stock payable to Press Ganey shareholders. While subject to regulatory approval and customary closing conditions, the transaction is expected to close in the coming months with both companies continuing operations independently until then.
Qualtrics’ history of ownership changes includes its acquisition by SAP in 2018 for $8 billion and its privatization by Silver Lake and the Canada Pension Plan Investment Board for $12.5 billion in 2023. This latest investment reflects the company’s commitment to advancing AI-powered experience management across sectors while expanding its domain expertise in healthcare.
Industry leaders expressed optimism about the merger’s impact on healthcare outcomes.
“When you put patients first, the results speak for themselves. Better quality, safety outcomes, and healthcare experiences. Qualtrics’ investment in Press Ganey Forsta will positively transform healthcare experience and quality for the future,” said Rob Allen, CEO of Intermountain Health.
Jeffrey Flaks, CEO of Hartford HealthCare, added, “This transformation will enhance healthcare quality and create a dynamic consumer-driven experience through innovation in experience measurement, data analytics, and AI.”
