CAPPS - Avocacy and Communication Professional Development

California Association of Private Postsecondary Schools

Corinthian sells San Jose campus to Biohealth College

02/06/2013

SILICON VALLEY BUSINESS JOURNAL.  FEBRUARY 5, 2013.  For-profit education company Corinthian Colleges has sold four of its Everest campuses - including one in San Jose - to San Jose-based Biohealth College Inc.

Corinthian, which also owns the Heald College chain of vocational schools, had a location at 1245 South Winchester Blvd. That campus, as well as ones in San Francisco, Hayward and Los Angeles, were placed in "discontinued operations" in early 2012. The publicly traded company sold them to Biohealth for "a negative purchase price of $1.5 million," Corinthian CFO Bob Owen said on an earnings call on Jan. 31.

According to Biohealth College's website, it has a campus at 2665 North First St. in San Jose and "provide[s] course programs designed to provide the student with the necessary tools required to successfully enter the Biotech, Medical and Business Industries."

Santa Ana-based Corinthian's stock was trading at about $2.25 on Tuesday. Corinthian and other players in the for-profit education business have been the focus on increased regulatory scrutiny because of concerns about student outcomes and rising student debt.