Adtalem Global Education Inc. issued the following announcement on June 29.
Adtalem Global Education (NYSE: ATGE), a leading global education provider, today announced that it has signed an agreement to transfer ownership of Carrington College to San Joaquin Valley College, Inc., the parent organization of San Joaquin Valley College, a family-owned, California-based career college with a 41-year history and more than 60,000 graduates. The transaction is subject to certain terms and conditions to be met during the transition process, including regulatory and accreditor approval, and is anticipated to be completed mid-year fiscal 2019.
“Carrington College is entering an important new phase in its history,” said Lisa Wardell, president and CEO of Adtalem. “San Joaquin Valley College and Carrington College complement each other in size, campus locations, program offerings and students served. Both schools share a commitment to serve career-focused students through quality allied health programs.
Carrington College has 19 locations across the West Coast and Southwest and offers certificate and associate degree programs in allied health fields. San Joaquin Valley College has 15 campuses throughout California and offers more than 20 certificate and associate of science degree programs. Both institutions are accredited by the Accrediting Commission for Community and Junior Colleges, Western Association of Schools and Colleges.
San Joaquin Valley College, Inc. will assume full ownership of Carrington College and will operate Carrington as a separate institution, maintaining the Carrington College name. No consideration will be paid to Adtalem at closing and Adtalem will deliver Carrington with sufficient working capital to further support Carrington’s future success.
“Both San Joaquin Valley College and Carrington College deliver career-focused programs, enjoy high-quality regionally accredited education, and have a combined history of serving students well,” said Mike Perry, president and CEO of San Joaquin Valley College. “With Carrington College, we have a tremendous opportunity to help even more students prepare for professional success in their chosen careers. We look forward to partnering with Carrington College to continue their programs and services, and we will also learn from each other given our more than 90 years of collective career college experience.”
“This is an exciting time for Carrington College,” said Dr. Donna Loraine, president of Carrington College. “San Joaquin Valley College shares Carrington’s commitment to providing a high quality educational experience and for helping our students reach their career goals. We will continue our important work of preparing the next generation of healthcare professionals.”
“The transfer of ownership is another step in Adtalem's commitment to focus on expanding our portfolio in growth sectors across our three key verticals: medical and healthcare, technology and business, and professional education," added Wardell. "We will work closely with the San Joaquin Valley College leadership to ensure that Carrington students and colleagues experience a smooth transition.”
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