DeVry Inc. : DeVry Acquires Faculdade do Vale do Ipojuca
09/04/2012| 08:35am US/Eastern
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Strengthening DeVry's strong position in the fast-growing
northeast Brazilian market
DeVry Inc. (NYSE:DV), a global provider of educational services, today
announced that it has acquired Faculdade do Vale do Ipojuca (FAVIP),
which is located in the state of Pernambuco. FAVIP currently has
approximately 5,000 students and offers more than 30 undergraduate and
graduate programs at two campuses located in Caruaru, the state's second
largest city. The institution's largest programs are in the areas of
law, business, psychology and nutrition. FAVIP is one of the fastest
growing institutions in the region.
FAVIP will become a part of DeVry Brasil, which currently operates
Faculdades Fanor located in Fortaleza; AREA1 and Ruy Barbosa, both
located in the city of Salvador; and FBV located in the city of Recife.
Together these five institutions currently provide services to about
27,000 students and offer 29 undergraduate and 39 graduate programs,
focusing on the areas of business, health, law and engineering.
Northeast Brazil is the fastest growing region of the country. With GDP
growth of 5.1 percent, the region's employers have an overwhelming need
for skilled workers. Private-sector institutions play a vital role in
meeting this need, educating over half the region's college students.
Through the ongoing investments made in new programs, services and
facilities, DeVry Brasil is well-positioned to meet the growing needs of
this region.
"Brazil is a dynamic and growing country that provides significant
growth opportunities for our organization," said Daniel Hamburger,
president and chief executive officer of DeVry Inc. "While our focus
remains on returning DeVry University and the Carrington Colleges to
growth, we are prudently investing in targeted opportunities that
position us well in high growth areas of the world."
The transaction will bring many benefits to the students and faculty of
FAVIP, including sharing best practices with DeVry Brasil, investments
in infrastructure and technology education, access to virtual libraries
and research databases, and subsidized English language courses.
Students will also have access to exchange programs and academic
projects with students from the United States and other countries where
DeVry has a presence.
About DeVry Inc.
DeVry's purpose is to empower its students to achieve their educational
and career goals. DeVry (NYSE: DV, member S&P 500 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, and Ross University Schools of Medicine and Veterinary
Medicine. These institutions offer a wide array of programs in business,
healthcare and technology. DeVry's institutions serve students in
secondary through postsecondary education and professionals in
accounting and finance. For more information, please call 630.353.3800
or visit http://www.devryinc.com.
DeVry Inc.
Investor Contact:
Joan Bates, 630-353-3800
jbates@devry.com
or
Media
Contact:
Larry Larsen, 312-895-4717
llarsen@sardverb.com
© Business Wire 2012
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