Ross University School of Medicine is a private, for-profit Caribbean medical school, owned and operated by DeVry Education Group. The medical school was founded in 1978 and is located on the island nation of Dominica. 98 percent of RUSM students are from the United States and Canada. The 2013 graduating class included 1,100 students.DeVry Education Group, the parent organization that owns RUSM, is a publicly traded company that also owns American University of the Caribbean , another medical school in the Caribbean. Wikipedia.
News Article | May 4, 2017
DOWNERS GROVE, Ill.--(BUSINESS WIRE)--DeVry Education Group (NYSE:DV), a leading global education provider, today reported academic, operational and financial results for its fiscal 2017 third quarter ended March 31, 2017. DeVry Group also reported enrollment results at its Carrington College, Chamberlain University, DeVry University/Keller Graduate School of Management and DeVry Education of Brazil. “ We remain focused on laying the groundwork to return to consistent revenue growth, while further improving operating efficiencies across our organization,” said Lisa Wardell, president and CEO of DeVry Education Group. “ We are committed to filling the global work force skills gaps that are prevalent in our society through our medical and healthcare, professional education and technology and business program offerings. I’m encouraged with the early traction of our new programs and remain confident that we are taking the right steps to strengthen our value proposition and enhance our growth potential.” Selected financial data for the three months ended March 31, 2017: The fiscal 2017 third quarter results contained pre-tax restructuring charges of $7.8 million primarily related to DeVry University, Carrington College and DeVry Group home office. In the quarter, DeVry Group realigned its reporting segments to reflect its current strategy. For the third quarter, segment revenue of $208.2 million decreased 1.0 percent compared to the prior year, with growth at Chamberlain University more than offset by decreased revenue at the medical and veterinary schools. Chamberlain revenue increased 2.4 percent to $124.9 million, while revenue for the medical and veterinary schools decreased 5.7 percent to $83.2 million. Third quarter operating income for the segment, excluding special items, was $50.8 million, representing a decrease of 11.5 percent from the prior year. Building on the strength of its brand and reputation, Chamberlain has broadened its reach in healthcare education through the establishment of Chamberlain University and the launch of a Master of Public Health (MPH) degree program within its new College of Health Professions. The Master of Public Health degree program enhances Chamberlain’s continued focus on providing health and wellness education, improving healthcare policy through interdisciplinary collaboration and making health a shared value across communities. During the fiscal third quarter, Ross University School of Veterinary Medicine (Ross) was awarded a grant by the National Institutes of Health (NIH) to study mosquito-transmitted arboviruses such as chikungunya, dengue and Zika, which have emerged as global public health threats. Ross will study these viruses in an effort to advance the understanding of how they may be transmitted between animals and humans. Led by Ross, the research is a collaborative effort with investigators at Kansas State University and the University of Georgia. It is the first NIH grant awarded to a research team at Ross. Third quarter segment revenue increased 25.9 percent to $29.8 million compared to the prior year, driven by the Association of Certified Anti-Money Laundering Specialists (ACAMS) acquisition. Segment operating income for the third quarter was $2.6 million, down from $5.9 million from the prior year, driven by a decline in revenue in Becker’s CPA review program and ACAMS revenue seasonality. Becker has continued to focus on growing global revenue through its continuing education programs and through ACAMS. Third quarter segment revenue increased 28.6 percent to $61.8 million compared to the prior year. On a constant currency basis, revenue in the segment grew 5.3 percent driven in part by recent acquisitions. Segment operating income in the third quarter was $5.4 million, up from a loss of $1.6 million in the prior year. DeVry Education of Brazil (DVE) introduced several programs during the quarter such as a new architectural program at Ibmec and a Master’s of Education degree program at Damásio. DVE is focused on leveraging its curriculum and its brands to attract new students. DeVry Education of Brazil launched a new Ibmec campus in São Paulo during the third quarter, which is intended to expand the institution’s access to a broader student population in the primary economic center of the country. In the third quarter, segment revenue decreased 20.8 percent to $153.0 million. Revenue at DeVry University decreased 23.7 percent to $119.4 million during the third quarter, compared to the prior year. Third quarter revenue at Carrington declined 8.3 percent to $33.5 million compared to the prior year. The segment recorded breakeven operating income for the quarter, compared to $1.7 million in the prior year, excluding special items. DeVry University achieved $32.9 million of cost savings in the third quarter compared to prior year, excluding special items. Additional cost reductions are expected in the fourth quarter of fiscal 2017 to maintain positive segment economics. Fourth quarter revenue is expected to be down 3 to 4 percent versus the prior year. Fourth quarter operating costs before special items are expected to decrease 4 to 5 percent versus the prior year. For the full year, revenue is expected to be down 1 to 2 percent compared to the prior year and earnings before special items are expected to grow in the mid-teens range as compared to the prior year. Full year capital spending is expected to be in the $55-60 million range. The effective income tax rate for the fiscal year is expected to be in the range of 20 to 21 percent, before special items. DeVry Group will hold a conference call to discuss its fiscal 2017 third quarter financial results on May 4, 2017 at 4 p.m. Central (5 p.m. Eastern). The conference call will be led by Lisa Wardell, president and CEO, and Patrick Unzicker, CFO and treasurer. For those wishing to participate by telephone, dial 877-407-6184 (domestic) or 201-389-0877 (international). Ask for the “DeVry Education Group Call” or use conference ID: 13655813. DeVry Group will also broadcast the conference call on DeVry Group's website at: http://www.investorcalendar.com/IC/CEPage.asp?ID=175878. Please access the website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. DeVry Group will archive a telephone replay of the call until Friday, May 19, 2017. To access the replay, dial 877-660-6853 (domestic) or 201-612-7415 (international). To access the webcast replay, please visit DeVry Group's website, or: http://www.investorcalendar.com/IC/CEPage.asp?ID=175878. Since 1931 DeVry Education Group has empowered its students to achieve their educational and career goals. DeVry Education Group Inc. (NYSE: DV; member S&P MidCap 400 Index) is a leading global education provider and the parent organization of American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Chamberlain University, DeVry Education of Brazil, DeVry University and its Keller Graduate School of Management, Ross University School of Medicine and Ross University School of Veterinary Medicine. For more information, please visit www.devryeducationgroup.com. Certain statements contained in this release concerning DeVry Group's future performance, including those statements concerning DeVry Group's expectations or plans, may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as DeVry Group or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described more fully in Item 1A, "Risk Factors," in DeVry Group's most recent Annual Report on Form 10-K for the year ending June 30, 2016 and filed with the Securities and Exchange Commission (SEC) on August 25, 2016 and its most recent Quarterly Report on Form 10-Q for the quarter ending December 31, 2016 and filed with the SEC on February 2, 2017. During the third quarter and first nine months of fiscal year 2017, DeVry Group recorded special items related to the following: (i) Restructuring charges related to severance for workforce reductions and real estate consolidations at the medical and veterinary schools which is part of the Medical and Healthcare segment, DeVry University and Carrington College ("Carrington") which are part of the U.S. Traditional Postsecondary segment, and DeVry Group's home office (not related to any segment) in order to align its cost structure with enrollments; (ii) Charges related to regulatory settlement agreements; and (iii) A charge related to an asset fair value write-down of its Pomona, California campus. During the third quarter and first nine months of fiscal year 2016, DeVry Group recorded special items related to the following: (i) Restructuring charges related to workforce reductions and real estate consolidations at DeVry University and real estate consolidations at Carrington in order to align its cost structure with enrollments; (ii) An asset impairment charge related to the write-down of Carrington's intangible assets and goodwill; (iii) A charge related to an asset fair value write-down at Becker Professional Education which is part of the Professional Education segment; and (iv) A gain on the sale of the DeVry University, Fremont, California campus and student housing facilities. The following tables illustrate the effects of the special items on DeVry Group’s operating income and net income. Management believes that the non-GAAP disclosure of operating income and net income excluding these special items provides investors with useful supplemental information regarding the underlying business trends and performance of DeVry Group’s ongoing operations and is useful for period-over-period comparisons of such operations given the special nature of the restructuring charges, regulatory settlements, loss on assets held for sale, an asset impairment charge and gain on sale of assets. DeVry Group uses these supplemental financial measures internally in its management and budgeting process. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, DeVry Group’s reported results prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). The following tables reconcile these non-GAAP measures to the most directly comparable GAAP information (in thousands):
News Article | May 15, 2017
The International Association of HealthCare Professionals is pleased to welcome Richard J. Cross, MD, Nephrologist to their prestigious organization with his upcoming publication in The Leading Physicians of the World. Dr. Richard J. Cross is a highly trained and qualified physician with an extensive expertise in all facets of his work, especially interventional nephrology. Dr. Cross has been in practice for more than five years and is currently serving patients within the Kidney Care Specialists of Michigan in St. Clair Shores, Michigan. Dr. Cross’s career in medicine began in 2005, when he graduated from Ross University School of Medicine. Upon receiving his Medical Degree, he completed a residency at St. John Hospital and Medical Center, before undertaking his fellowship at the University of Michigan Health System. Dr. Cross is board certified in both Nephrology and Internal Medicine by the American Board of Internal Medicine. To keep up to date with the latest advances in his field, Dr. Cross maintains a professional membership with the American Society of Diagnostic and Interventional Nephrology, and the American Society of Nephrology. For his hard work and dedication, he is the recipient of numerous awards and recognitions including the Peter McCabe Award for Excellence in Medical Education in 2007. He attributes his success to his business experience and exceptional medical training, and in his free time, Dr. Cross enjoys home remodeling and owns a motorcycle dealership. Learn more about Dr. Cross here: http://www.kidneycaremi.com/ and be sure to read his upcoming publication in The Leading Physicians of the World. FindaTopDoc.com is a hub for all things medicine, featuring detailed descriptions of medical professionals across all areas of expertise, and information on thousands of healthcare topics. Each month, millions of patients use FindaTopDoc to find a doctor nearby and instantly book an appointment online or create a review. FindaTopDoc.com features each doctor’s full professional biography highlighting their achievements, experience, patient reviews and areas of expertise. A leading provider of valuable health information that helps empower patient and doctor alike, FindaTopDoc enables readers to live a happier and healthier life. For more information about FindaTopDoc, visit http://www.findatopdoc.com
News Article | June 6, 2017
BASSETERRE, St. Kitts--(BUSINESS WIRE)--Duane Landals, DVM, senior advisor to the Alberta Veterinary Medical Association (ABVMA) served as the Ross University School of Veterinary Medicine (Ross Vet) 2017 commencement speaker. More than 300 students graduated recently at the Watsco Center in Coral Gables, Fla. Graduates included candidates of Doctor of Veterinary Medicine, Master of Science By Research and the first cohort of Master of Science by Coursework in One Health (MSc One Health). Students were joined by their faculty, friends and family. “It’s an honor and privilege to have Dr. Landals join our commencement ceremony,” said Sean Callanan, dean at Ross Vet. “I could not be more delighted to have him here to address our graduates, their families and friends, and all of the members of the Ross Vet community. His leadership experience within the global veterinary community is especially valuable as our graduates look to contribute to that community in the years to come.” After spending 25 years in rural mixed veterinary practice in Alberta, Dr. Landals served 13 years as CEO/Registrar and Secretary-Treasurer of the ABVMA. He is Past-President of both the Alberta and Canadian Veterinary Medical Associations and served as Vice-President of the World Veterinary Association as well as chair for the 29th World Veterinary Congress in Vancouver, Canada. “I congratulate the graduates as they start their career journey as veterinarians and global health professionals,” said Landals. “I urge them to challenge themselves in the days and years ahead as they strive to become leaders in the field of veterinary medicine by making key contributions to improve animal, human, and environmental health.” In addition to serving as Senior Advisor to the ABVMA, Dr. Landals’ current involvements include: working with the Alberta and Canadian Veterinary Medical Associations in developing appropriate standards of practice regarding prescribing and dispensing activities by veterinarians, chairing the American Association of Veterinary State Boards RACE committee, serving as board member for Veterinarians Without Borders and the Alberta Society for Prevention of Cruelty to Animals, and chairing the World Veterinary Association Congress standing committee. Ross University School of Veterinary Medicine (Ross Vet) is a member of Adtalem Global Education (NYSE: ATGE), a global education provider headquartered in the United States. The organization's purpose is to empower students to achieve their goals, find success and make inspiring contributions to our global community. Ross Vet founded in 1982, is committed to preparing students to become members and leaders of the worldwide public and professional healthcare team and to advance human, animal and ecosystem health (One Health Initiative) through research and knowledge exchange. Ross Vet has focused research programs with an emphasis on emerging infectious and zoonotic diseases, conservation medicine, and ecosystem health. Ross Vet offers postgraduate Masters’, Ph.D. and Doctor of Veterinary Medicine (DVM) programs accredited by the St. Christopher & Nevis Accreditation Board. The DVM program holds accredited status from the American Veterinary Medical Association (www.avma.org). The Ross Veterinary Clinic is accredited by the American Animal Hospital Association (www.aahanet.org). For more information about Ross, visit www.rossu.edu/vet.
News Article | May 24, 2017
CHICAGO--(BUSINESS WIRE)--Adtalem Global Education (NYSE: ATGE), a leading global education provider, announced today that it has changed its name from DeVry Education Group, giving the company a name that signifies its student-focused purpose, and providing a more flexible platform that supports its continued diversification across healthcare, professional education, and technology and business. Adtalem Global Education received overwhelming shareholder approval. “I am pleased to announce this next chapter in our history of serving our students,” said Lisa Wardell, president and CEO of Adtalem. “Our new name makes clear our purpose to empower students and our status as a global education provider, reflecting the seven institutions and professional education company that make up our organization, and their own unique brands and strong reputations.” The name, derived from Latin and meaning “to empower,” was chosen from more than 5,000 submissions by Adtalem colleagues from around the world. During the past year, Adtalem has continued to adapt to meet the academic and career needs of its students around the globe. DeVry University has developed its DeVry Tech Path to provide even greater and more distinct value to its students; American University of the Caribbean School of Medicine (AUC) partnered with Western Connecticut Health System to enable AUC students to complete global health electives in Asia, Africa, and Latin America; Ross University School of Veterinary Medicine announced a collaboration with Johns Hopkins Bloomberg School of Public Health to explore research and joint educational activities; Ross University School of Medicine is expanding its reach to students and faculty via its Center for Teaching and Learning; Carrington College is expanding in-demand programs that promote healthcare careers and launching critical supportive certifications like Phlebotomy; Becker Professional Education announced new initiatives to enhance its USMLE preparation course and continues to expand its reach with financial professionals globally via the growth of the Association of Certified Anti-Money Specialists (ACAMS); Adtalem Educacional do Brasil began offering online MBA programs nationally through its Damásio network; and Chamberlain College of Nursing recently established Chamberlain University and launched a Master of Public Health degree program within a new College of Health Professions. The purpose of Adtalem Global Education is to empower students to achieve their goals, find success, and make inspiring contributions to our global community. Adtalem Global Education Inc. (NYSE: ATGE; member S&P MidCap 400 Index) is a leading global education provider and the parent organization of Adtalem Educacional do Brasil, American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Chamberlain University, DeVry University and its Keller Graduate School of Management, Ross University School of Medicine and Ross University School of Veterinary Medicine. For more information, please visit adtalem.com.
News Article | June 13, 2017
BASSETERRE, St. Kitts.--(BUSINESS WIRE)--An excited and anxious group of 159 Ross University School of Veterinary Medicine (Ross Vet) students gathered at the clinical placement ceremony recently to find out where they had placed for either a stateside or international clinical rotation. As these students shared this important news, joined by friends and family, clinical affiliates Purdue University and Auburn University also participated, showing support for the students. Ross Vet is one of few schools that offer students the possibility to do the clinical year at AVMA- accredited clinical affiliates in the U.S. and internationally. This year, the ceremony was attended by more than 180 people, with more than 200 joining via web. “We are proud of the success of our Class of 2018. The placement ceremony is a monumental event for our students to support each other and celebrate the news with their friends and family,” said Dr. Juan C. Samper, Associate Dean for Clinical Affairs & Professional Opportunities at Ross Vet. “Our students obtain clinical spots into some of the most competitive AVMA-accredited clinical affiliates in the world, including Cornell University, Tufts University and Royal Veterinary College in London. Ross Vet graduates bring adaptability and resilience to their clinical affiliates. As a result of their experience in St. Kitts, our students can adapt to the cultural differences and are resourceful in emergencies.” “As a medical leader who has hired hundreds of veterinarians, I find Ross Vet graduates to be some of the best trained doctors to join our practice,” said Dr. Alexandra Quarti, medical director at Banfield Pet Hospital, sponsor of the Ross Vet placement ceremony. “They are flexible, able to deal with ambiguity, and often seem best able to fit in and foster a team atmosphere. They are committed to quality care and really embrace leadership roles.” Clinical Placement occurs at the beginning of the seventh semester and provides all Ross Vet students the opportunity to attain their Doctor of Veterinary Medicine degree. These students identify four clinical affiliates that best match their career goals. During this year, students participate in various rotations to gain clinical experience while remaining enrolled in Ross Vet. The clinical year curriculum is designed to be a series of integrated, consecutively scheduled learning experiences. Ross University School of Veterinary Medicine (Ross Vet) is a member of Adtalem Global Education (NYSE: ATGE), a global education provider headquartered in the United States. The organization's purpose is to empower students to achieve their goals, find success and make inspiring contributions to our global community. Ross Vet founded in 1982, is committed to preparing students to become members and leaders of the worldwide public and professional healthcare team and to advance human, animal and ecosystem health (One Health Initiative) through research and knowledge exchange. Ross Vet has focused research programs with an emphasis on emerging infectious and zoonotic diseases, conservation medicine, and ecosystem health. Ross Vet offers postgraduate Masters’, Ph.D. and Doctor of Veterinary Medicine (DVM) programs accredited by the St. Christopher & Nevis Accreditation Board. The DVM program holds accredited status from the American Veterinary Medical Association (www.avma.org). The Ross Veterinary Clinic is accredited by the American Animal Hospital Association (www.aahanet.org). For more information about Ross, visit www.rossu.edu/vet.