Anthem Education Group
Anthem Education Group (formerly The Chubb Institute) is a Florida-based organization that operates a chain of for-profit, technical schools in the United States. As of November 2013, the company operated 34 campuses in various states and one online institution.
Founding
The organization was founded in 1970 as The Chubb Institute, the employee training arm of the Chubb Corporation, an insurance company. Its initial focus was on computer-related training, and training in medical fields was added later.
21st Century
Facing lawsuits and financial losses, Chubb Corporation put the school for sale in 2004 and eventually sold it for $1 to a partnership of private equity firm Great Hill Partners and the High-Tech Institute, a network of similar technical schools based in Phoenix, Arizona.[1] Chubb Corporation recognized a $31 million loss from the sale.[2]
The new owners struggled to rescue the chain at first. Facing a loss of $9 million in 2005, they invested millions and renamed several of the poorer performing schools. The location in Chicago had been renamed to Banner Institute in January 2006, and the location in Arlington, Virginia, had been christened Banner College.[1][3] However, as of 2007, the Washington Post reported that the chain was still struggling with lawsuits and challenges to accreditation.[1] Banner College in Virginia closed in August 2008 after ten years of operation there.[4]
By 2010, the colleges were being operated by the Anthem Education Group, a company owned by Great Hills Partners.[5] At that time, the group was based in Phoenix and operated 23 accredited colleges.
In 2012, the company changed hands again, coming under the ownership of the Education Training Corporation in Florida.[6] The merger expanded the educational areas offered by AEG. As of November 2013, the group operated 8 brands, including Anthem College, Anthem College – Bryman School, Anthem Career College, Florida Career College, FCC Anthem College, Anthem College Online, Anthem Institute, and Morrison University.[7] At the time, the company operated 34 campuses in various states and one online institution.
On August 21, 2014, the following statement was released in the Milwaukee area: "Due to an extended period of financial difficulty, Anthem Education has made the difficult but necessary decision to close several of its facilities on August 22, 2014, in conjunction with the end of the academic term. Anthem Education has secured teach out and transfer opportunities for the all of our students at Anthem College - Brookfield, subject to ABHES approval, and we are pleased that our students may continue pursuing their educational goals."[8]
References
- Notes
- ↑ 1.0 1.1 1.2 Yang, Xiyun. "New Owners Fail To Improve Chain Of Career Schools", The Washington Post, August 13, 2007, Banner Institute of Chicago, IL closed as a result of operational loss from the recent merger in 2005. Page D01
- ↑ Chubb Corporation Annual Report for 2005
- ↑ About Us, itcareertraing.com (Anthem Institute), accessed March 2, 2009
- ↑ Closed Institutions, State Council of Higher Education for Virginia website, accessed March 2, 2009
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External links
- Educational institutions established in 1970
- For-profit universities and colleges in the United States
- Graphic design schools in the United States
- Universities and colleges in Nevada
- Universities and colleges in Pennsylvania
- Universities and colleges in New Jersey
- Universities and colleges in New York
- 1970 establishments in the United States
