Qualtrics to Acquire Press Ganey Forsta for $6.75 Billion, Enhancing AI in Healthcare

Qualtrics, a leader in experience management software, has announced a definitive agreement to acquire Press Ganey Forsta, a prominent provider of experience measurement and data analytics, for $6.75 billion in a combination of cash and equity. This strategic acquisition aims to integrate Qualtrics' advanced AI capabilities with Press Ganey Forsta's extensive healthcare expertise and data, creating a comprehensive platform for customer, patient, and employee experience management.

Founded in 2002 and headquartered in Provo, Utah, and Seattle, Washington, Qualtrics specializes in experience management software that enables organizations to collect and analyze data to improve customer, employee, product, and brand experiences. The company has been at the forefront of integrating artificial intelligence (AI) into its platform, with more than one-third of its customers upgrading to AI capabilities. Notably, 90% of Qualtrics' top 50 enterprise customers have utilized features such as Conversational Feedback, Qualtrics Assist, and Experience Agents.

Press Ganey Forsta is a global provider of experience technology, data analytics, and insights, serving over 43,000 clients across various industries, including healthcare, financial services, hospitality, market research, professional services, retail, and technology. The company is recognized for its Human Experience (HX) Platform, which integrates customer experience (CX), employee experience (EX), patient experience (PX), and market research. In healthcare, Press Ganey Forsta is trusted by 41,000 providers in 30 countries, partnering to improve trust, quality, safety, and patient experiences.

The acquisition is poised to have significant implications for the healthcare sector. By integrating Qualtrics' AI capabilities with Press Ganey Forsta's healthcare expertise, healthcare providers can deliver improved patient and employee experiences, leading to better health outcomes and increased provider well-being. The combined platform will offer healthcare organizations end-to-end capabilities, merging patient satisfaction measurement with advanced analytics and AI-powered tools. The merger is expected to expedite the adoption of AI in healthcare, providing organizations with innovative solutions to move from insight to impact more swiftly.

This acquisition marks Qualtrics' largest to date, underscoring the company's commitment to expanding its AI capabilities and presence in the healthcare sector. Previously, in April 2022, Press Ganey acquired Forsta, a global leader in market research, customer experience, and employee experience technology, to accelerate innovation in healthcare experience measurement.

The Qualtrics-Press Ganey Forsta acquisition represents a significant milestone in the evolution of experience management, particularly within the healthcare industry. By combining advanced AI capabilities with deep healthcare expertise, the merged entity is poised to set new standards in customer, patient, and employee experience management.