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Adtalem Global Education, the U.S.-based for-profit chain formerly known as DeVry, has agreed to a deal to sell all of its Brazilian holdings for $465 million, the company said Monday. Reuters reported that Adtalem Educacional do Brasil operates 12 institutions in the country under three brands, with a total enrollment of 82,000 students. Adtalem's parent company has a 98 percent share in the Brazilian subsidiary, which it selling to YDUQS, the second-largest education company in Brazil.
The former DeVry Education Group rebranded as Adtalem more than two years ago. The company shortly thereafter transferred ownership of DeVry University to Cogswell Education LLC, the owner of Cogswell College, a California for-profit that enrolled 600 students at the time. Cogswell also acquired the Keller Graduate School of Management from Adtalem.
“We have been on a path to re-position Adtalem as a leading workforce solutions provider, and this transaction further streamlines our enterprise, reduces portfolio risk and complexity and advances exciting opportunities for growth and innovation in our medical and healthcare and financial services verticals,” Lisa Wardell, Adtalem chair and CEO, said in a written statement.
