), one of the largest providers of higher education services in
North America, opened its first LEED (Leadership in Energy and
Environmental Design ) certified campus in Cleveland's Health-Tech
Corridor under the Chamberlain College of Nursing. The institution
is already accepting applications for admission to Bachelor of
Science in Nursing (BSN) degree program for the spring semester
that commences on January 7, 2013.
The new facility is the 12th Chamberlain campus in the U.S and will
have access to world-famous healthcare research and clinical
institutions in the Health-tech Corridor. Also, the students of the
Cleveland campus will find perfect learning environments in the
high-tech simulated patient care facility of the Chamberlain's
Simcare Center. They will also have access to academic resources
and support from the Center for Academic Success.
The Cleveland facility will help to mitigate the shortage of nurses
in Ohio, which is expected to be more than 32,000 by 2020.
DeVry has been suffering on account of the persistent decline in
enrollment due to the weak macroeconomic environment and subsequent
decline in demand for courses (due to the hesitancy over taking a
loan) in the U.S. Further, modifications made to the business to
comply with new educational regulations have also been hurting
Other than enrollment declines, DeVry had a tough time due to
heavy investments in scholarships to support students who are
facing the brunt of recent cuts to the Pell Grant program.
DEVRY INC (DV): Free Stock Analysis Report
To read this article on Zacks.com click here.
Carrington Colleges Group, which operates under the Medical and
Healthcare segments of the company, reported a 19.7% decrease in
new enrollment in the fourth quarter of 2012. Total enrollment also
declined 25.7% in the fourth quarter of 2012.
In order to improve its performance, Carrington has been focusing
on improving its cost structure by streamlining the admission
process and raising academic quality. In fact, the location of the
new campus is expected to increase enrollment in the near future.
Carrington now expects to generate positive new enrollment growth
in the October quarter of 2012 and generate savings of at least $50
million in fiscal 2013.
Carrington Colleges are expected to return to positive enrollment
and revenue growth in fiscal 2013 and gradually grow its
enrollments to 2011 levels. All other institutions are expected to
maintain their growth momentum for the 2014-2016 period, which the
company defines as the recovery phase.
DeVry Inc. carries a Zacks #5 Rank in the near term (Strong Sell
rating). We currently have an Underperform recommendation on DeVry
Inc. We believe that though management is trying to boost its
business and control costs, it might take time for these
initiatives to deliver the desired results.