Our client is a nationally accredited, Title IV nursing and allied healthcare school established in 1997. The school offers allied healthcare and skilled trades programs. In 2016 the school has a total enrollment of over 300 students who attend the school’s two campuses located in a major metropolitan area in the Midwest. The school’s largest program is its licensed practical nurse (LPN) program with approximately 192 students which represents approximately 64% of school’s total tuition received.

Based on year-to-date financial results as of the end of May, management expects 2016 annualized revenues to be approximately $2.4 million and adjusted EBITDA to be $343,000. This is up 15% and 78% respectively from 2015.

The school is accredited by ACICS however management is in the process of changing accreditation to ACEN which will be received before the sale is complete. The school’s founders have some minor health issues and are interested in retiring, however, they are willing and able to work with the buyer for a reasonable transition period or as consultants afterward. Additional information is available to qualified principals upon receipt of the signed nondisclosure agreement attached.

Investment Highlights:

• Established Healthcare & Skilled Trades Programs
- Medical Assistant–10 months, Licensed Practical Nurse (LPN)–12-14 months
- Certified Nursing Assistant (CNA)–3 months
- HVAC Repair (HVAC)–12 months.
• Major Metropolitan Market
– The school has multiple campuses in a major metropolitan area in the Midwest.
• High Placement Rates
- 73% placement rate for its LPN program in 2015.
• Fully Accredited, Title IV Institution
– Accredited by ACICS and participates in Title IV program. Changing accrediting agency to ACEN.
• Excellent 90/10 Rate
– 2015 Title IV funds were only 60% of total revenues.

Posted Oct 6, 2016

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