Anthem Education Group

Anthem Education Group (formerly The Chubb Institute) is a Florida-based organization that operates a chain of for-profit, technical schools in the United States, called Florida Career College. In 2016, their website lists 11 campuses, all in Florida. [1]

History

The organization was founded in 1970 as The Chubb Institute, the employee training arm of the Chubb Corporation, an insurance company. Its initial focus was on computer-related training, and training in medical fields was added later.

Facing lawsuits and financial losses, Chubb Corporation put the school for sale in 2004 and eventually sold it for $1 to a partnership of private equity firms called Great Hill Partners and the High-Tech Institute, a network of similar technical schools based in Phoenix, Arizona.[2] Chubb Corporation recognized a $31 million loss from the sale.[3]

The organization lost $9 million in 2005. The location in Chicago was renamed to Banner Institute in January 2006, and the location in Arlington, Virginia was renamed Banner College.[2][4] However, as of 2007, the Washington Post reported that the chain was still struggling with lawsuits and challenges to accreditation.[2] Banner College in Virginia closed in August 2008 after ten years of operation.[5]

By 2010, the colleges were being operated by the Anthem Education Group, a company owned by Great Hills Partners.[6] At that time, the group was based in Phoenix and operated 23 accredited colleges.

In 2012, the company was acquired by Education Training Corporation in Florida.[7] The merger expanded the educational areas offered by AEG. As of November 2013, the group operated 8 brands, including Anthem College, Anthem College – Bryman School, Anthem Career College, Florida Career College, FCC Anthem College, Anthem College Online, Anthem Institute, and Morrison University.[8]

In 2013, the company operated 34 campuses in various states and one online institution before closing most of its campuses.

In August 2014, Anthem Education Group filed for bankruptcy and closed abruptly in several states. [9]

References

Notes
  1. ↑ http://www.anthem.edu/locations/
  2. 1 2 3 Yang, Xiyun. "New Owners Fail To Improve Chain Of Career Schools", The Washington Post, August 13, 2007, Banner Institute of Chicago, IL closed as a result of operational loss from the recent merger in 2005. Page D01
  3. ↑ Chubb Corporation Annual Report for 2005
  4. ↑ About Us, itcareertraing.com (Anthem Institute), accessed March 2, 2009
  5. ↑ Closed Institutions Archived August 11, 2013, at the Wayback Machine., State Council of Higher Education for Virginia website, accessed March 2, 2009
  6. ↑ "Allied College gets new name". St. Louis Business Journal. June 4, 2010.
  7. ↑ "Anthem Education History". Anthem Education Group. Retrieved 20 November 2013.
  8. ↑ "About". Anthem Education Group. Retrieved 20 November 2013.
  9. ↑ https://www.insidehighered.com/news/2014/08/29/profit-anthem-education-abruptly-closes-campuses-after-filing-bankruptcy

External links

This article is issued from Wikipedia - version of the 11/13/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.