Press Ganey has acquired Avatar International Holding Co. as well as its subsidiary, Avatar International.
The transaction closed on May 2, according to a press release.
Lake Mary, Fla.-based Avatar surveys patients and employees on their experiences within the healthcare system. Press Ganey, a publicly traded firm that does similar work, will add Avatar's clients to its roster. The transaction should add between $6 million to $7 million revenue this year and not have material impact on adjusted EBITDA, according to the release.
Boston-based Press Ganey stock began trading in May 2015. It reported revenue of $318.7 million last year, a 13.2% increase over 2014. The company reported a net loss of $36.6 million last year, compared with a net income of $15.6 million the prior year.
The firm was ranked No. 1 on Modern Healthcare's 2015 By the Numbers list of the largest patient-satisfaction measurement firms, with 146,241 clients.