Corinthian Colleges, Inc. (NASDAQ: COCO) has acquired Heald Capital LLC, the parent company of Heald College. Heald is an accredited institution that has been delivering quality academic programs since 1863. As of December 31, 2009, had about 12,900 students and operates 11 campuses.
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Pursuant to the acquisition, Corinthian paid $395 million in exchange for all outstanding membership interests belonging to Heald Capital. Included in the acquisition is the assumption of about $23.4 million in debt related to a subsidiary belonging to Heald.
About Corinthian Colleges
Corinthian Colleges is one of the largest post-secondary education companies in North America. The company's mission is to prepare students for careers in demand or for advancement in their chosen field. Corinthian offers diploma programs and associate, bachelor, and master's degrees in a variety of high-demand occupational areas, including healthcare, business, criminal justice, transportation technology and maintenance, construction trades and information technology.
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