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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 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.
Adtalem Global Education (NYSE: ATGE) announces plans to repurchase $150 million in shares as part of an accelerated share repurchase (ASR) agreement, funded by existing cash. The company also intends to allocate approximately $770 million from the upcoming sale of its financial services segment to reduce debt, expected to close by March 31, 2022. The Board authorized up to $300 million for open market repurchases over three years. These steps are aimed at strengthening the balance sheet, reducing leverage, and enhancing shareholder value, with anticipated annual interest savings of $40 million.
Adtalem Global Education (NYSE: ATGE) has appointed Cheryl James as the new senior vice president and chief human resources officer, effective immediately. James brings over 30 years of HR leadership experience, including her previous role at Hillrom, where she enhanced employee engagement and aligned talent strategies with business goals. Her appointment comes at a critical time as Adtalem shifts focus towards healthcare education amid a highly competitive talent landscape. James is tasked with improving talent attraction and retention across the organization.
Adtalem Global Education (NYSE: ATGE) announced its fiscal 2022 second-quarter results, ending December 30, 2021. The company focuses on addressing workforce talent needs in healthcare and financial services through educational access and upskilling programs. More than 89,000 members are served across 200 countries. A conference call led by CEO Stephen Beard and CFO Bob Phelan will discuss these results today at 4 PM CT. Access to the earnings release, along with a replay of the call, is available via their Investor Relations website.
Adtalem Global Education (NYSE: ATGE) reported its fiscal 2022 second quarter financial results for the period ending December 30, 2021. The company utilizes its diverse educational offerings to address workforce talent needs in healthcare and financial services. Details on the earnings call, scheduled for today at 4 p.m. CT, include access via phone or webcast. The earnings release is available on their investor relations website. Adtalem has more than 10,000 employees and serves over 89,000 members globally, striving to improve workforce preparedness.
Chamberlain University has launched a new Master of Physician Assistant Studies (MPAS) program to meet the rising demand for physician assistants (PAs) in healthcare. This initiative addresses the nationwide shortage of healthcare professionals, particularly in underserved areas, and aims for a 31% job growth prediction for PAs from 2020 to 2030. The two-year program includes clinical experiences and will prepare students for the Physician Assistant National Certifying Examination (PANCE). Accreditation-Provisional status is pending, with the first class expected in September 2022.
Consumer Safety Technology Holding Company (CST) appointed Kathy Boden Holland as CEO in December 2021, following a nationwide search by its private equity owners, Welsh, Carson, Anderson & Stowe. With over 30 years in the industry, CST focuses on deterring impaired driving and aiding license restoration. Previously, Boden Holland was President at Adtalem Global Education (NYSE: ATGE), where she improved organizational growth and margins. She is set to lead CST in expanding its ignition interlock business and related services.
Adtalem Global Education (NYSE: ATGE) will host a conference call on February 8, 2022, at 4 p.m. CST to discuss its fiscal 2022 second quarter results and the sale of its financial services segment. The call will be led by CEO Steve Beard and CFO Bob Phelan. Investors can participate via phone or listen live on the web. A replay will be available until March 8, 2022. Adtalem is recognized for expanding access to healthcare and financial education, employing over 10,000 individuals and serving more than 86,000 members globally.
Adtalem Global Education (NYSE: ATGE) announced a definitive agreement to sell its Financial Services segment for
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