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DeVry Completes Brazilian Acquisition

Zacks Equity Research

DeVry Inc. (DV) recently completed its previously announced acquisition of a privately-held Brazilian healthcare education company, Faculdade Differential Integral (Facid).

Located in the state of Piaui, Facid operates two campuses in the city of Teresina. The company primarily offers healthcare courses to about 2,500 students, including a Doctor of Medicine (M.D.) program. It also offers undergraduate degrees in other fields such as nursing, pharmacy and dentistry and a law program.

The acquisition will strengthen DeVry's presence in Brazil where the company already offers courses to more than 30,000 students. DeVry has made other acquisitions in Brazil in the past including Faculdade do Vale do Ipojuca in Sep 2012 and Faculdade Boa Viagem (:FBV) in Feb 2012.

Facid will join 6 other institutions operating under DeVry Brazil.  The acquisition will allow Facid to share academic best practices with other DeVry medical and healthcare institutions.

There is an increasing demand for medical courses due to improving prospect for doctors and veterinarians. DeVry’s other medical institutions like Chamberlain College of Nursing and Carrington Colleges are currently doing well. Enrollment growth at these colleges is improving due to higher quality enquiries and conversion rates, resulting from improved recruitment efforts and new branding initiatives by DeVry.

DeVry carries a Zacks Rank #3 (Hold).

Stocks in the education industry that are currently performing well and have a bright outlook include ATA, Inc. (ATAI), Grand Canyon Education, Inc. (LOPE) and New Oriental Education & Technology Group (EDU). ATA carries a Zacks Rank #1 (Strong Buy). Grand Canyon Education and New Oriental Education & Technology Group both carry a Zacks Rank #2 (Buy).


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