Kaplan Buys Healthcare Test Prep Assets from Adtalem

Mergers and Acquisitions

Kaplan Buys Healthcare Test Prep Assets from Adtalem

Aug 20, 2019

Kaplan, a Ft. Lauderdale, Fla.-based provider of education and career services, has bought the health care test preparation assets of Becker Professional Education, a provider of test prep services for professionals. Terms of the deal were not disclosed.

Founded in 1957, Becker has over 2,000 partners in over 55 countries and is best known for its certified public accounting exam prep services. The Downers Grove, Ill.-based company is a subsidiary of publicly traded workforce services provider Adtalem, formerly known as DeVry Education Group.

Founded in 1938, Kaplan bought the assets to grow its health care and education offerings, according to a statement Monday. As part of the deal, Kaplan also notched multi-year deals with Adtalem to provide U.S. Medical Licensing Examination review programs to two Adtalem schools: Ross University School of Medicine and the American University of the Caribbean School of Medicine. That exam is required for physicians to practice medicine in the U.S.

The sold assets are a small percentage of Adtalem’s financials, reports an analyst note from investment bank BMO Capital Markets.

More information may come at Adtalem’s quarterly earnings call Thursday. Earlier this year, it bought the financial services business of online education provider OnCourse Learning for about $121 million in cash.

Kaplan is the largest division of publicly traded Graham Holdings Co.—owner of Slate and former owner of The Washington Post. It claims to serve over one million students worldwide each year across over 1,000 school districts, colleges and universities and about 10,000 businesses, all in 30 countries. Last year, Kaplan bought i-Human Patients, a virtual medical simulation provider for health care training.

 

Trending

Get our email newsletterSign me up
Keep up to date with our email newsletterSign me up