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Grand Canyon Education To Acquire Orbis Education For $362.5 Mln In Cash

Grand Canyon Education, Inc. (LOPE), a publicly traded shared services partner dedicated to serving colleges and universities, said Tuesday that it has agreed to acquire education services company Orbis Education Services, LLC, for $362.5 million in cash.

Orbit Education Services supports healthcare education programs for 17 regionally accredited universities across the U.S.

Grand Canyon Education or GCE noted that the acquisition combines the strengths of two service providers in higher education in an effort to align their expertise and better address a nationwide shortage in licensed healthcare professionals. The transaction is expected to close during the first quarter of 2019.

Brian Mueller, GCE's CEO said, "We are very impressed with the quality of nursing and healthcare education that Orbis Education's client institutions are providing. GCE can help grow that by providing investment capital and advanced technologies with behind-the-scenes support that will help University partners accomplish their goals and increase the number of licensed healthcare professionals they educate with the same high-quality outcomes."

GCE is one of the largest providers in education services due to its partnership with Grand Canyon University, a private non-profit Christian university with enrollment of more than 95,000 students.

GCE created the infrastructure that allowed Grand Canyon University to grow from 900 traditional students on its ground campus to approximately 20,500 in just 10 years while also increasing admission requirements and increasing the average incoming GPA to more than 3.5.

Orbis Education, founded in 2003, has created collaborative partnerships between academic institutions and employers by managing clinically intensive pre-licensure healthcare programs through a hybrid learning model that incorporates online coursework, off-campus laboratory facilities where students can practice clinical skills, and guaranteed clinical placements with healthcare partners.

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