Former Grand Canyon University parent company buys education group
Dec 19, 2018, 9:53 AM
PHOENIX – Grand Canyon University’s former parent company planned to buy a health-education services group for more than $360 million in cash.
Phoenix-based Grand Canyon Education said the deal for Orbis Education Services of Indiana would help curb the nursing shortage around the country.
The $362.5 million agreement was expected to close during the first quarter of 2019.
“This is a natural extension of what Grand Canyon Education is already doing as an education services partner. We are very impressed with the quality of nursing and healthcare education that Orbis Education’s client institutions are providing,” university President Brian Mueller said in a statement.
Mueller is also the CEO of Grand Canyon Education, which owned the university until July, when the school near 33rd Avenue and Camelback Road returned to nonprofit status.
Orbis builds partnerships between students, universities and health care systems, according to its website, “through innovative educational programs.”
Partners include Northeastern University, Loyola University Chicago, Xavier University and Marquette University.
Inside Indiana Business reported Tuesday that Orbis CEO Steve Hodownes said the deal was an “excellent fit” for his company and that both organizations “are mission-driven.”