Publicly traded Corinthian Colleges Inc. has finalized their acquisition of Heald Capital LLC, the parent company of Heald College. Headquartered in San Francisco, California, Heald operates 11 campuses in the western United States. All of the Heald schools are regionally accredited junior colleges and focus on associates degrees, certificates, and diplomas. Students can study various programs in health care, business, law, and technology. This acquisition by Corinthian Colleges Inc gives them an expanded campus and online presence in the western U.S., which partners well with their other school brands WyoTech and Everest. The acquisition of Heald was reported to cost $395 million, with Corinthian also assuming $23.4 million in debt. Overall this addition should not only help the stock of Corinthian Colleges Inc (Nasdaq: COCO), but it should also strengthen the Heald brand in California because of the support of their new parent company. Corinthian is based out of Santa Ana, California so overall it is a great win for the state.
Students in California are already struggling to get into certain schools or obtain the proper financing to attend schools this Fall. As more public California colleges and universities continue to struggle because of budgets cuts, more people will look towards these privately funded schools for their education. Many of the programs offered from the Corinthian Colleges brands are shorter in length with a career oriented focus. Their goal is to get people right into the workforce after graduation, which is paramount at a time when California is struggling and the unemployment rate is very high. if the state has a more qualified workforce, then it will be much easier to help climb out of the current deficit.
Tags: California Colleges, corinthian colleges, heald capital llc, heald college
