Healthcare Co. Press Ganey, High-Flyer Since IPO, Makes Acquisition

Healthcare is going through an evolution that involves putting the patient at the center of care, according to Patrick Ryan, the CEO of Press Ganey (PGND), a healthcare company that went public earlier this year. Ryan rang the opening bell at the New York Stock Exchange Wednesday, one day after acquiring Healthcare Performance Improvement, a patient safety and reliability consulting firm that works with over 600 health systems. Press Ganey conducts patient satisfaction surveys that are currently used by over 22,000 health care facilities across the United States. Data from those surveys is then used as facilities try to improve patient care. Investors apparently like Press Ganey's business - it's shares have risen more than 25% since its IPO in May. 'We're in a place where I think people see it's a growth opportunity for the industry, and we lead that industry,' said Ryan. Press Ganey's revenues grew 13% in its last quarter, with 10% of that growth organic, the other 3% was acquired growth. 'We expect to continue to make acquisitions. We'll do it in a disciplined way over the years,' said Ryan.