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Heald Capital bought for $385M


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POSTED: Wednesday, October 21, 2009

Corinthian Colleges Inc. has agreed to acquire Heald Capital LLC, the parent company of Heald College, for $385 million in cash.

Heald has one campus in Honolulu at 1500 Kapiolani Blvd., with about 90 employees and an enrollment of about 1,300 students.

Founded in 1863, Heald College prepares students for careers in health care, business, legal, information technology and other growing fields, primarily through associate degree programs. Starting early next year, the regionally accredited college expects to begin enrolling online students.

The Heald name will remain, said Nolan Miura, president and chief executive officer of Heald College, from San Francisco headquarters, and the transition will be transparent to students.

Besides Honolulu, Heald operates nine campuses in Northern California and one in Portland, Ore.

Corinthian, based in Santa Ana, Calif., currently has five nationally accredited schools in Northern California offering primarily short-term diploma programs in health care, automotive technology and the trades.

The deal, which is subject to regulatory approvals, is expected to close on March 31.