On May 18, 2026, experience management (XM) software provider Qualtrics officially finalised its acquisition of healthcare data analytics firm Press Ganey Forsta. The transaction, valued at $6.75 billion USD, represents the largest technology acquisition in Utah’s history.
First announced under a definitive agreement in October 2025, the closure completes a multi-month transition period. The merger combines Qualtrics’ enterprise-scale customer and employee experience management platforms with Press Ganey Forsta’s specialised healthcare experience benchmarks and patient feedback infrastructure.
While the acquisition concluded successfully, the path to closure faced headwinds in the credit markets. In March 2026, the transaction experienced delays when lead underwriter JPMorgan Chase had to pause a $5.3 billion USD debt raise intended to fund the purchase.
Leveraged finance investors demonstrated resistance to the debt package, citing broader economic skepticism toward high-valuation software investments amidst rapid shifts in the AI sector.
Now the deal is done, the acquisition, according to Jason Maynard, CEO of Qualtrics, will elevate what experience management can deliver to organisations across all industries, “AI permanently changed what people expect from every experience in their lives. That’s why the future will be won in the Experience Gap. Leaders want to deliver intelligent, responsive, and predictable human experiences. In the age of AI, experience is now the differentiator in every industry, and for the first time ever that problem can be solved in healthcare. The rich data and context intelligence we are building raises the standard for what experience management can do across every industry we serve.”
Through this acquisition, Qualtrics substantially expands its operational reach within the healthcare vertical. Press Ganey Forsta’s systems are currently deployed across more than 41,000 healthcare facilities globally, including a significant majority of hospitals within the United States.
The integration of Qualtrics and Press Ganey Forsta aggregates a large-scale repository of data for healthcare providers and payers.This combined dataset is designed to train and power AI-driven synthetic experience intelligence systems. These platforms aim to simulate operational outcomes, model human needs and behaviours, and automate personalised interactions at scale.
For Qualtrics users in industries such as financial services, the public sector, technology, retail, and hospitality, the acquisition is intended to scale the underlying platform by increasing data volume, contextual inputs, and predictive AI accuracy within existing workflows.
