Education Management Corporation Completes Sale Of Assets To Dream Center Foundation; Continues Educating Students Of Remaining Schools

PITTSBURGH, Oct. 17, 2017 /PRNewswire/ -- Education Management Corporation (EDMC) is pleased to announce that the acquisition of substantially all of its assets by the Dream Center Foundation has been completed.

The transaction includes all faculty and staff of South University, Argosy University and The Art Institutes locations currently enrolling new students.  It also includes a majority of the employees from EDMC's corporate offices.

Faculty and staff remain at locations that are not currently accepting new students. These EDMC schools will remain operational and current students will have an opportunity to graduate from their chosen programs. Additionally, certain schools will remain part of EDMC until they too are acquired by The Dream Center Foundation within the next several months.

"We are pleased with the close of this transaction and our attention remains with the students still enrolled in EDMC schools," said EDMC president and CEO, Mark McEachen. "We will honor our commitment to them and will continue providing them with the quality education they have come to expect from EDMC."

"EDMC has served the educational needs of almost half a million students for more than 100 years. We are deeply proud of this legacy," said chairman of EDMC's board of directors, John Danielson. "Today we celebrate a major milestone that ensures a bright future for all of our students, faculty and administrators.  Achieving this very positive result is due to the diligence, hard work and tenacity of our exemplary management team and school system leaders, none of whom ever lost sight of what mattered most, the well being of every one of our students.  The board appreciates them for their contribution and salutes The Dream Center Foundation for embracing the mission of excellence in education for all."

Education Management Corporation is one of the largest providers of post-secondary education in the United States, based on student enrollment and revenue, with a total of 102 locations in 31 U.S. states. The company offers academic programs to students through campus-based and online instruction, or through a combination of both. The company is committed to offering quality academic programs and strives to improve the learning experience for its students. Its educational institutions offer students the opportunity to earn undergraduate and graduate degrees and certain specialized non-degree diplomas in a broad range of disciplines, including business, culinary, design, education, fashion, health sciences, information technology, legal, media arts, and psychology and behavioral sciences.

SOURCE Education Management Corporation