Laureate Sells Walden University to Adtalem for $1.48 Billion in Cash
IBL News | New York
Adtalem Global Education (NYSE: ATGE)–formerly DeVry Education Group–announced on Friday that it will acquire Walden University from Laureate Education, Inc. for $1.48 billion in cash.
The transaction, expected to close in the first quarter of the fiscal year 2022, will require approval by accreditors and the federal government.
With 48,000 students, the for-profit Walden University–specialized in healthcare education– has one of the largest enrollment in the U.S., following the University of Phoenix and Grand Canyon University. About a third of its students are in nursing programs.
The acquisition positions Adtalem to become even more strategically focused on health care. The company already owns the American University of the Caribbean School of Medicine, Chamberlain University, Ross University School of Medicine, and Ross University School of Veterinary Medicine.
The combined institutions will have 26 campuses across 15 states and four countries, the company said, with 6,100 faculty members and more than 90,000 students with 34% African American enrollees. It will rank number one for total undergraduate and graduate nursing enrollment in the U.S. and be the world’s top provider of M.D.s, Ph.D.s, and nursing degrees to African Americans.
The Baltimore-based, publicly-traded, and Bill Clinton-backed, Laureate has been selling off institutions for several years.