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Adtalem Global Education Inc. (symbol: ATGE) is a prominent American for-profit educational company that empowers students to achieve their educational and career goals. The company operates through a series of educational institutions that provide a broad range of degree programs in fields such as healthcare, business, technology, accounting, finance, and law.
Founded with the mission to offer quality education, Adtalem is the parent organization of several well-known institutions, including the American University of the Caribbean School of Medicine, Chamberlain College of Nursing, Ross University School of Medicine, and Ross University School of Veterinary Medicine. It also oversees institutions like DeVry University and its Keller Graduate School of Management, DeVry Brasil, Carrington College, and Becker Professional Education.
Adtalem boasts over 90 campuses and a robust online learning offering. This flexibility allows them to cater to a diverse student body, offering associate, bachelor's, and postgraduate degrees. Enrollment in business-related programs represents nearly half of the total student body, with technology and healthcare programs also attracting significant numbers.
Financially, Adtalem derives the bulk of its revenue from student enrollment fees, primarily funded through federal financial aid programs such as Pell Grants. The company continually strives for excellence by keeping up with the latest educational trends and ensuring high standards across all its programs.
Recent achievements of Adtalem include partnerships with various healthcare organizations to enhance clinical training for nursing students and collaborations with businesses to provide real-world experience for technology and business students. The company's commitment to innovation and student success has made it a respected leader in the education sector.
Adtalem Global Education (NYSE: ATGE) reported its fiscal 2021 fourth quarter and full year results, highlighting its commitment to workforce solutions in healthcare and financial services. Significant achievements include empowering over 82,000 members globally and maintaining a diverse learner population. The company has been recognized as one of America’s Most Responsible Companies 2021 by Newsweek, and for diversity by Forbes. The management, including CEO Lisa Wardell, will discuss the financial results during a conference call today at 4 p.m. CT. Further details are available on their website.
Adtalem Global Education (NYSE: ATGE) has appointed Mayur Gupta as an independent board member, effective immediately. Gupta, recognized as one of the 'Most Influential CMOs' by Forbes, brings over 20 years of experience in digital marketing and technology. His role at Gannett Co. involves leading subscription-based transformations across various portfolios. Gupta’s expertise is expected to enhance Adtalem's offerings and drive growth in the healthcare education sector. The board now includes 10 directors, with an emphasis on diversity and regular refreshment.
Laureate Education (NASDAQ: LAUR) has completed the sale of Walden University to Adtalem Global Education (NYSE: ATGE) as part of its strategy to enhance shareholder value. The deal closes with previously disclosed terms and reflects Laureate's focus on unlocking growth opportunities for its remaining businesses. Walden University, renowned for its online education, serves over 55,000 students and continues to influence higher education positively.
Adtalem Global Education (NYSE: ATGE) has completed its acquisition of Walden University, enhancing its position as a leading workforce solutions provider in healthcare education. This strategic move addresses the projected shortage of over 500,000 registered nurses and 139,000 physicians in the U.S. The acquisition is expected to generate significant value with projected revenue of $1.7 billion and an incremental $120 million in unlevered free cash flow in the first year. The integration aims for $60 million in annual cost savings and is anticipated to strengthen Adtalem's digital platform and educational offerings.
Chamberlain University has partnered with AORN to launch a workforce preparedness initiative aimed at addressing the shortage of operating room nurses. Starting early 2022, three healthcare systems—Loyola Medicine, Ochsner Health, and Emory Healthcare—will collaborate to provide a 16-week online perioperative nursing training module. This unique program, developed by AORN, is offered at no cost to students in Chamberlain's BSN program, allowing them to gain practical experience in supervised settings. The initiative aims to expand across Chamberlain's 23 campuses nationwide.
Adtalem Global Education (NYSE: ATGE) announced a leadership transition, with Stephen Beard succeeding Lisa Wardell as CEO, effective September 8. Wardell will become executive chairman for one year. This transition follows a board-led succession planning process aimed at ensuring continuity and accelerating growth. Beard, who joined Adtalem in 2018, has played a crucial role in enhancing operational execution and leading the acquisition of Walden University, which is set to complete by the end of Q1 FY22. The company maintains its fiscal year 2021 guidance for revenue growth of 5-7% and EPS growth of 28-32%.
Adtalem Global Education (NYSE: ATGE) is exploring strategic alternatives for its Financial Services segment, which includes ACAMS, Becker Professional Education, and OnCourse Learning. This move aligns with its commitment to optimize its portfolio, focusing on healthcare education. The Financial Services segment holds significant market share in the $5.2 trillion industry, driven by a demand for education and training solutions due to regulatory requirements. No specific timeline for the review has been set, and Morgan Stanley & Co. LLC and Skadden, Arps, Slate, Meagher & Flom LLP have been engaged as advisors.
Adtalem Global Education (NYSE: ATGE) will hold a conference call on August 19, 2021, at 4 p.m. CT to discuss its fiscal 2021 fourth quarter and full-year results. The call will feature CEO Lisa Wardell and interim CFO Bob Phelan. Participants can join via telephone or listen live on the web. A playback of the call will be available until September 19, 2021. Adtalem focuses on empowering students and operates multiple educational institutions, including the American University of the Caribbean School of Medicine and Ross University School of Medicine.
Adtalem Global Education (NYSE: ATGE) has appointed Josh Braunstein as the president and managing director of Becker Professional Education, in addition to his current role leading OnCourse Learning. Since taking on the interim role at Becker in February 2021, Braunstein has demonstrated strategic vision and effective leadership, making him a key choice for the position. His background includes transforming Wolters Kluwer's CPE business from negative to double-digit growth. Adtalem, a workforce solutions provider, seeks to address talent needs in healthcare and financial services sectors.
Adtalem Global Education (NYSE: ATGE) has appointed Douglas G. Beck as Senior Vice President, General Counsel, and Corporate Secretary. Beck, with extensive experience in corporate legal practice, will oversee the legal department and provide counsel in areas such as M&A, corporate governance, and compliance. Previously, he served as Executive Vice President and General Counsel at Hub Group. CEO Lisa Wardell expressed excitement about Beck's appointment, highlighting his strong legal expertise and business understanding as valuable assets to Adtalem.
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