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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) has appointed Michael Betz as the new president of Walden University, effective immediately. Betz, who has extensive experience in higher education transformation, aims to enhance Walden's position in distance learning and improve access to quality degree programs. His prior roles include leadership positions at McKinsey & Co. and Strayer University. Betz holds master's degrees from the University of Texas and a Bachelor of Science from Georgetown University.
Adtalem Global Education (NYSE: ATGE) hosted the "Advancing Equity in Healthcare: A Nursing Summit" on April 20, attracting nearly 300 virtual participants. The summit, aimed at improving health equity, featured key discussions led by national healthcare experts, including U.S. Rep. Alma Adams and representatives from HBCUs. CEO Steve Beard emphasized the company's commitment to increasing diversity in healthcare education. A white paper is planned to outline policy recommendations for overcoming barriers faced by HBCUs and minority nursing students, furthering Adtalem's mission in healthcare education.
Adtalem Global Education (NYSE: ATGE) announced its fiscal 2022 third-quarter results for the period ending March 31, 2022. The company is recognized for its commitment to healthcare education, supporting workforce preparedness through its various institutions. Stakeholders can access detailed financials and results via the Investor Relations section of its website. A conference call scheduled today at 4 PM CDT will discuss the performance insights. For replay access, stakeholders can use the dial-in options provided or visit the website until June 5, 2022.
Adtalem Global Education (NYSE: ATGE) announces a conference call on May 5, 2022, at 4 p.m. CDT to discuss its fiscal 2022 third quarter results. The call will feature CEO Steve Beard and CFO Bob Phelan. Participants can join via telephone or access a live webcast from the company's website. A replay will be available until June 5, 2022. Adtalem is a prominent healthcare educator, dedicated to improving workforce preparedness across its diverse institutions, including the American University and Chamberlain University.
Adtalem Global Education (NYSE: ATGE) has successfully concluded its Asset Sale Offer for its 5.500% Senior Notes due 2028, purchasing
Adtalem Global Education (NYSE: ATGE) announced that its institutions, AUC and RUSM, achieved a remarkable 94.4% first-time eligibility residency attainment rate in the 2022 National Resident Matching Program. AUC reported a 94.7% rate and RUSM 94.2%, marking the fourth consecutive year with rates exceeding 90%. A significant 74% of graduates will enter primary care specialties, addressing physician shortages projected to reach 139,000 by 2033. The institutions are also committed to enhancing health equity by training diverse groups of physicians.
Adtalem Global Education has appointed Dr. Pedro L. Delgado as the new dean of the American University of the Caribbean School of Medicine (AUC). Delgado, who has over 35 years of academic leadership experience, aims to enhance AUC's mission of producing well-trained physicians through international education and community engagement. AUC boasts an impressive 92% first-time residency attainment rate for its graduates. This move reflects Adtalem's commitment to addressing healthcare workforce needs and improving educational outcomes in medicine.
Adtalem Global Education (NYSE: ATGE) has initiated a $150 million accelerated share repurchase (ASR) agreement with Morgan Stanley and announced an additional $300 million for open market share repurchases over the next 36 months. The ASR will utilize existing cash resources, enabling the repurchase of approximately 4.7 million shares initially. This move reflects the company's belief that its stock is undervalued, with future share settlements based on the stock's performance during the agreement period.
Adtalem Global Education (NYSE: ATGE) has initiated an Asset Sale Offer to purchase up to $373,333,000 of its 5.500% Senior Notes due 2028. This offer is financed through proceeds from its earlier divestiture of the financial services segment. The offer will remain open until 5:00 P.M. on April 8, 2022. Notes that are validly tendered will receive a purchase price of $1,000 per $1,000 of principal plus any accrued interest. If total tenders exceed $373,333,000, purchases will be made on a pro-rata basis.
Adtalem Global Education (NYSE: ATGE) has successfully divested its Financial Services segment for $1 billion. The deal includes ACAMS, Becker Professional Education, and OnCourse Learning, completed with Wendel Group and Colibri Group as buyers. Adtalem plans to utilize approximately $770 million of the proceeds to reduce debt, anticipating annual interest savings of around $40 million. This strategic shift aims to reinforce Adtalem's focus on enhancing healthcare education and improving its financial standing.
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