Press Ganey Associates Inc. has named Patrick Ryan chief executive. The company, a provider of healthcare performance improvement technology, is backed by investors including Vestar Capital Partners. Ryan was previously CEO at The Broadlane Group, a provider of strategic supply chain and revenue cycle management software.
Press Ganey Associates, Inc., a recognized leader in health care performance improvement, announced today that Patrick T. Ryan has been named Chief Executive Officer, effective immediately.
Robert Draughon, who served as CEO on an interim basis since July 2011, will resume his prior role as President and Chief Financial Officer for the company.
Mr. Ryan has held various leadership positions throughout his 30-year career in the health care industry. Most recently, Mr. Ryan served as Chairman and Chief Executive Officer of The Broadlane Group (which was acquired by MedAssets Inc. under Mr. Ryan’s leadership), a leading provider of strategic supply chain and revenue cycle management solutions for acute, post-acute and outpatient providers.
Mr. Ryan has also served as CEO at several leading health care companies, including PolyMedica Corporation, the nation’s largest direct-to-consumer provider of blood glucose testing supplies and related services under the Liberty Medical Supply brand, and Physicians Dialysis, Inc., a nationwide network of dialysis clinics. Mr. Ryan is a director of Affiliated Managers Group, Inc. (NYSE: AMG) and Atrius Health, and is also active in the non-profit community, currently as a director of Avon Old Farms School. He holds a bachelor’s degree from the University of Rochester.
“It’s a privilege to join an organization that is an innovator in patient-focused care, particularly during this dynamic period in the health care industry, said Mr. Ryan. “I believe that Press Ganey’s suite of high quality analytic and advisory services is critical to the advancement of the industry as our clients integrate new delivery approaches, payment models and partnership structures.
“Further, I am fortunate to have such an experienced partner in Rob Draughon, whose knowledge of the company and industry will be invaluable,” Mr. Ryan continued. “I look forward to working with Rob and the entire Press Ganey team to continue to deliver breakthrough solutions that drive dramatic improvement in patient safety, outcomes and satisfaction.”
“Pat has decades of experience in the health care industry and has demonstrated his ability to lead high-growth organizations. I believe I speak for all of the employees when I say that we are excited to be working alongside Pat,” said Mr. Draughon.
“We are delighted to have Pat Ryan join Press Ganey as both a CEO and as a director. We are confident he is the right person to guide the company through a very exciting time, as providers, payers and consumers all focus increasingly on the quality of healthcare,” said Roger Holstein, Managing Director of Vestar Capital. “Press Ganey is the leading company in the health care quality industry and should play an even more prominent role under Pat’s leadership. We appreciate Rob Draughon’s contributions over the last three years and are excited about the company’s prospects with Rob and Pat at the helm,“ added Norman Alpert, Managing Director of Vestar. In 2008, Vestar purchased a majority interest in Press Ganey.
In conjunction with his appointment, Mr. Ryan will be purchasing a minority stake in the company.
About Press Ganey
Recognized as a leader in performance improvement for 25 years, Press Ganey partners with more than 10,000 health care organizations to create and sustain high performing organizations, and, ultimately, improve the overall health care experience. The company offers a comprehensive portfolio of solutions to help clients operate efficiently, improve quality, increase market share and optimize reimbursement. Press Ganey works with clients from across the continuum of care – hospitals, medical practices, home care agencies and other providers – including 50% of all U.S. hospitals. For more information, visit www.pressganey.com.
About Vestar Capital Partners
Vestar is a leading private equity firm specializing in management buyouts and growth capital investments with $7 billion in assets under management. The firm targets companies in North America with valuations of $250 million to $3 billion in four key industry sectors: Consumer, Diversified Industries, Healthcare and Digital Media, and Financial Services. Vestar invests and collaborates with incumbent management teams, family owners or corporations in a creative, flexible and entrepreneurial way to build long-term franchise and enterprise value. Since the firm’s founding in 1988, the Vestar funds have completed more than 70 investments in companies with a total value of more than $30 billion. Vestar has offices in New York, Boston and Denver.