Qualtrics, the leader in AI-driven customer survey software, has reached an agreement to acquire Press Ganey, a prominent healthcare market research company, for $6.75 billion. The acquisition comes amid increasing moves by technology leaders to gain access to proprietary datasets, aiming to strengthen the training of artificial intelligence models and broaden their capabilities.

With this deal, Qualtrics will secure Press Ganey's extensive healthcare relationships and data resources. Press Ganey, owned by Ares Management and Leonard Green & Partners, collaborates with over 41,000 hospitals, health plans, and life sciences organizations, collecting and analyzing patient and caregiver feedback. This information is coupled with clinical and safety metrics to generate actionable insights to improve patient satisfaction and care quality in healthcare organizations.

Under the deal’s terms, Press Ganey will be paid in a combination of cash and privately held Qualtric’s stock.

Qualtrics, which remains privately held following its 2023 acquisition by Silver Lake and the Canada Pension Plan Investment Board, provides experience management tools for measuring and analyzing customer, employee, product and brand experience. It serves large enterprises, government agencies, and universities worldwide, with clients including Microsoft, BMW, and the U.S. Department of Homeland Security.

The announcement signals Qualtrics' commitment to expanding its capabilities in healthcare data analytics, healthcare provider engagement, and AI-driven patient experience solutions.