Education Management Corporation (EDMC) was founded in 1962 and acquired its first school in 1969 when it bought the Art Institute of Pittsburgh, which was 50 years old at the time.
The company opened several more Art Institutes and by 1998 had over 17,000 students at 15 Art Institutes and three additional schools.
EDMC expanded in the 2000’s with the purchase of Argosy University, South University, and American Education Centers (which later became Brown Mackie Colleges).
In 2006 the company was bought by Goldman Sachs, Providence Equity Partners, and Leeds Equity Partners and taken private. In the years following EDMC faced harsh criticism and scrutiny after a public outcry about the quality of education offered.
Today EDMC offers degree programs from associate to postgraduate through its subsidiary schools with 110 locations in 30 states and Canada. The company has 120,000 students and 23,000 faculty and staff.
Education Management Corporation trades publicly on the OTC exchange under the symbol EDMC, is a member of the Russell 2000, is #837 in the Fortune 1000, has 11,000 employees, and had $2.27 billion in revenue in 2014.
Inn November 2015, federal and state authorities announced a $95.5-million settlement resolving a whistleblower case in which former EDMC employees said the company was “illegally paying recruiters based on the number of students they enrolled.”
Education Management CorporationEducation Management Corporation (EDMC) was founded in 1962 and acquired its first school in 1969 when it bought the Art Institute of Pittsburgh, which was 50 years old at the time.
The company opened several more Art Institutes and by 1998 had over 17,000 students at 15 Art Institutes and three additional schools.
EDMC expanded in the 2000’s with the purchase of Argosy University, South University, and American Education Centers (which later became Brown Mackie Colleges).
History
In 2006 the company was bought by Goldman Sachs, Providence Equity Partners, and Leeds Equity Partners and taken private. In the years following EDMC faced harsh criticism and scrutiny after a public outcry about the quality of education offered.
Today EDMC offers degree programs from associate to postgraduate through its subsidiary schools with 110 locations in 30 states and Canada. The company has 120,000 students and 23,000 faculty and staff.
Education Management Corporation trades publicly on the OTC exchange under the symbol EDMC, is a member of the Russell 2000, is #837 in the Fortune 1000, has 11,000 employees, and had $2.27 billion in revenue in 2014.
Inn November 2015, federal and state authorities announced a $95.5-million settlement resolving a whistleblower case in which former EDMC employees said the company was “illegally paying recruiters based on the number of students they enrolled.”
