A Carmel-based education services company will soon be under new ownership. Phoenix-based Grand Canyon Education Inc. (Nasdaq: LOPE) has announced plans to acquire Orbis Education Services LLC in a more than $362 million cash deal.
Orbis supports healthcare education programs for 17 regionally accredited universities throughout the country. Grand Canyon Education says the acquisition will align the expertise of both companies to better address the nationwide shortage of licensed healthcare professionals.
"This is a natural extension of what Grand Canyon Education is already doing as an education services partner," said Brian Mueller, chief executive officer of GCE. "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."
Orbis Education CEO Steve Hodownes calls the deal an "excellent fit" for his company and provides a transformational opportunity for Orbis’ academic and healthcare partners, as well as its employees.
The acquisition is expected to close in the first quarter of 2019.
In September, Orbis founder Dan Briggs and Chief Product Officer Scott McCormick appeared on Inside INdiana Business with Gerry Dick. You can watch the full interview by clicking the link below.