EDIC College, which is backed by Renovus Capital Partners, has merged with Columbia Central University. No financial terms were disclosed. The combined institution will operate under the Columbia Central University brand and continue to serve students from its four physical campuses and online platform.
WAYNE, Pa., July 6, 2020 /PRNewswire/ — Renovus Capital Partners, a Philadelphia-area investment firm focused on investing in the Knowledge and Talent sectors, announced today that its portfolio company, EDIC College, a Caguas Puerto Rico based health sciences college has merged with Columbia Central University (“CCU”). The combined institution will operate under the Columbia Central University brand and will continue to serve over 2,000 students from its four physical campuses and online platform. The merger transaction was consummated following the approvals from appropriate regulatory and accrediting bodies including the U.S. Department of Education, the Board of Postsecondary Institutions of Puerto Rico and the Middle States Commission on Higher Education.
“This merger reaffirms our commitment to higher education in Puerto Rico – commitment that we have always maintained with our students, graduates, employees and faculty,” said José A. Córdova, now CEO of the combined institution. “With this merger and change of ownership, the legacy of Mr. Alex A. De Jorge and his contributions to quality education will continue to be cultivated as they have for the past 54 years,” commented Daritza Mulero, president of CCU.
“As experienced investors in Puerto Rico and believers in the student value proposition offered by the proprietary schools there, we are delighted to bring two exceptional and complementary institutions under one platform. The combined institution will have the academic resources and infrastructure to offer quality and affordable healthcare programs such as Nursing both on campus and online,” commented Atif Gilani, Founding Partner of Renovus Capital Partners.
About Columbia Central University
Columbia Central University was founded in 1966, as Caguas City College. It is a non-sectarian, proprietary institution of higher education committed to an environment of academic excellence and quality services. CCU is a highly regarded provider of undergraduate and graduate degree programs in health sciences in Puerto Rico and after the merger, will be one of the largest private operators on the island. CCU will serve its diverse student body at 4 campuses located in Caguas, Carolina, Bayamon and Yauco, and online through synchronous and asynchronous offerings. Further details on the merger can be found at https://www.juntedelmomento.com.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is a private equity firm specializing in the Knowledge and Talent industries. Renovus, from its base in the Philadelphia area, manages $600 million across several investment vehicles. The firm’s current portfolio includes over twenty U.S. based businesses specializing in educational technology and content, higher education, corporate learning and development, healthcare services and technology services. Renovus typically partners with founder led businesses, leveraging its industry expertise and access to debt and equity capital to make operational improvements, pursue tuck-in acquisitions and oversee strategic growth initiatives. More information can be found at www.renovuscapital.com.