DOWNERS GROVE, Ill.--(BUSINESS WIRE)--DeVry Inc. (NYSE:DV), a global provider of educational services, today announced it will acquire privately-held Faculdade Diferencial Integral (Facid), located in the state of Piaui, Brazil. Facid currently serves approximately 2,500 students at two campuses in the city of Teresina, and offers degree programs primarily in healthcare, including a Doctor of Medicine (M.D.) program. The transaction is expected to be complete in early July; terms were not disclosed.
Facid will become a part of DeVry Brasil, which currently operates five institutions at nine campuses in northeast Brazil. With the addition of Facid, these institutions will provide education services to more than 30,000 students. Along with its M.D. program, Facid offers undergraduate degrees in other healthcare fields such as nursing, pharmacy, and dentistry, as well as a law program.
"We look forward to welcoming our colleagues at Facid to the DeVry group. This acquisition will broaden our geographic presence in northeast Brazil and expand our medical and healthcare education presence," said Daniel Hamburger, DeVry’s president and chief executive officer.
Seventy percent of the country’s college students attend private-sector universities. DeVry Brasil posted 60 percent revenue growth for the fiscal third-quarter ending March 31, 2013.
Facid will benefit from the exchange of academic best practices with the other medical and healthcare institutions within DeVry, such as investments in infrastructure and technology, access to virtual libraries and research databases, and subsidized English language courses. In addition, Facid’s students will have the opportunity to develop academic projects with students from the United States and other countries where DeVry has a presence. Facid’s colleagues will also have the opportunity for professional growth within the institution and within DeVry Brasil.
About DeVry Inc.
DeVry's purpose is to empower its students to achieve their educational and career goals. DeVry (NYSE: DV; member S&P MidCap 400 Index) is a global provider of educational services and the parent organization of Advanced Academics, American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Carrington College California, Chamberlain College of Nursing, DeVry Brasil, DeVry University, Ross University School of Medicine and Ross University School of Veterinary Medicine. These institutions offer a wide array of programs in business, healthcare, technology, accounting and finance. For more information, please call 630.353.3800 or visit http://www.devryinc.com.
Certain statements concerning DeVry's future performance, including statements concerning DeVry's expectations or plans that may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally can be identified by phrases such as DeVry or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Actual results may differ materially from those projected or implied by such forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described more fully in Item 1A, "Risk Factors," in DeVry's most recent Annual Report on Form 10-K for the year ending June 30, 2012 and filed with the Securities and Exchange Commission on August 28, 2012.
