DLA Piper advised as outside corporate counsel Grand Canyon Education, Inc. (NASDAQ: LOPE), a publicly traded shared services partner dedicated to serving colleges and universities, in the announced definitive agreement to acquire Orbis Education Services, LLC, an education services company that supports healthcare education programs for 17 regionally accredited universities across the United States, for $US362.5 million in cash.
The acquisition combines the strengths of two of the nation's most innovative service providers in higher education in an effort to align their expertise and better address a nationwide shortage in licensed healthcare professionals. Phoenix-based Grand Canyon Education, a pioneer of the hybrid campus model, is one of the largest providers in education services due to its partnership with Grand Canyon University, a private nonprofit Christian university with enrollment of more than 95,000 students.
The transaction is expected to close during the first quarter of 2019, subject to customary closing and regulatory conditions.
The DLA Piper team representing Grand Canyon Education was led by partner David Lewis (Phoenix), and included partner Jared Jensen and associates Stephanie King, Chris Provera, Michael Duval and Sne Sadhu (all Phoenix).
