Press Ganey to launch $400 million incremental term loan on Thursday

By Sara Rosenberg

New York, Feb. 9 – Press Ganey (Azalea TopCo Inc.) is scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a non-fungible $400 million incremental first-lien term loan due July 25, 2026, according to a market source.

Barclays, Goldman Sachs Bank USA and BMO Capital Markets are the bookrunners on the deal. Barclays is the administrative agent.

The incremental term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to help fund the acquisition of Forsta, a provider of insight and analytics software and services to enterprise customers and market research professionals.

Press Ganey is a provider of patient experience analytics and performance improvement solutions to health care organizations, delivered through a proprietary software suite.

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