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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.
ACAMS is set to host its 25th Annual International AML & Anti-Financial Crime Conference – Virtual Hollywood from April 13, 2021. This three-day event aims to support compliance professionals as they tackle regulatory risks amidst rising illicit finance. Attendees will gain insights from expert panels on pressing issues such as FinCEN's compliance supervision and recent compliance settlements. Networking opportunities will also be available, allowing participants to engage with peers. The event offers real-time and on-demand session access for 90 days post-conference.
Adtalem Global Education (NYSE: ATGE) is addressing the physician shortage in the U.S. by producing 856 graduates from its American University of the Caribbean School of Medicine (AUC) and Ross University School of Medicine (RUSM) who will enter residency programs this summer. AUC and RUSM together contribute significantly more physicians than the next largest U.S. medical school, focusing on diversifying the physician workforce. Notably, 103 graduates identify as Black/African American, with 57% of AUC graduates entering primary care specialties, which are in critical demand.
Chamberlain University is expanding with a new campus in Irwindale, California, to combat the projected nationwide nursing shortage, particularly in California, which is predicted to reach nearly half a million nurses by 2030. This new location, the 23rd for Chamberlain, aims to increase the capacity for Bachelor of Science in Nursing (BSN) students, who can complete their degrees in just three years. The initiative is part of Chamberlain's commitment to graduating a diverse workforce to meet healthcare needs exacerbated by the COVID-19 pandemic.
Engine Capital and Hawk Ridge Capital, significant shareholders of Adtalem Global Education (NYSE:ATGE), have expressed concerns in an open letter to the Board regarding the acquisition of Walden. They criticize the Board's focus on closing the acquisition despite pending investigations by the Department of Justice, which could increase financial risks for shareholders. The letter warns that not addressing potential liabilities could elevate the purchase price from 8.4x to 9.8x LTM EBITDA. The investors believe that repurchasing shares would be a safer financial strategy.
Adtalem Global Education (NYSE: ATGE) reported its fiscal 2021 second-quarter results, ending December 31, 2020. Key financial metrics, including revenue growth and earnings per share, will be discussed by executives during a conference call today at 4 p.m. CT. Shareholders can access the earnings press release and presentation on their Investor Relations website. Adtalem aims to empower students through its various educational institutions and programs.
Engine Capital LP and Hawk Ridge Capital Management LP, significant shareholders of Adtalem Global Education (ATGE), have sent a letter to the company's Board, raising concerns about an ongoing U.S. Department of Justice investigation into Walden University's nursing program. The letter highlights low graduation rates due to inadequate support for clinical experience requirements, posing potential risks of fines and loss of federal funding.
They urge the Board to clarify investigation details in the February 2 earnings call and recommend halting any financing activities regarding Walden until the investigation concludes, warning of $122 million in unnecessary costs.
ACAMS is hosting its inaugural Global Sanctions Space Summit on March 2, aimed at helping compliance professionals navigate complex regulations. The two-day virtual event will feature over 50 experts discussing economic sanctions challenges, including human rights abuses and cybercrimes. Attendees can participate in networking and panel discussions on topics like sanctions evasion and crypto compliance risks. Experts such as Lisa Palluconi from OFAC will provide actionable insights for compliance programs.
Becker, a leader in professional education and part of Adtalem Global Education, announced enhancements to its CMA Exam Review, aimed at fostering skills essential for management accountants. The updated course covers both parts of the exam, offering new quality content, an intuitive user experience, industry-leading instruction, and personalized learning through AI technology. This initiative supports the growth of qualified financial professionals, reflecting Becker's commitment to innovation in education.
Adtalem Global Education (NYSE: ATGE) reaffirms its commitment to engaging with shareholders Engine Capital and Hawk Ridge Partners. The company remains focused on executing its growth strategy, which involves strategic investments, streamlining its portfolio, and enhancing educational offerings through the pending acquisition of Walden University. The acquisition aims to broaden access to quality education. Adtalem emphasizes its dedication to long-term shareholder value and community impact, while also acknowledging potential risks related to the acquisition and market competition.
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