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Adtalem's (ATGE) Chamberlain University Opens Campus in Irwindale

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Adtalem Global Education Inc.’s (ATGE - Free Report) Chamberlain College of Nursing recently announced the opening of a new campus in Irwindale, CA, to increase opportunities for nursing training.

The Irwindale campus is the second Chamberlain location in California and will join the Sacramento campus to boost the healthcare workforce of the state.

High Demand for Nursing Education 

The entire nation is facing a shortage in nursing and such scarcity is forecasted to reach half a million by 2020. The state of California is expected to encounter the maximum shortage among all states, nationwide. To address this demand/supply imbalance of health care employees, Chamberlain University is extending its nursing education opportunities with the opening of its Irwindale campus.

Chamberlain University has a glorifying 130-year history in healthcare education and is currently serving Bachelor of Science in Nursing (BSN) students across 15 states, 22 campuses and online. Irwindale will mark the Chamberlain’s 23rd location.

Per a report from the California Board of Registered Nursing, barely 39% of qualified candidates were welcomed to BSN programs in the state in 2018/2019, thereby creating scarcity of nurses all over Los Angeles during the period. Chamberlain’s Irwindale campus will deal with the shortage of educated nurses by increasing the capacity of proper nursing training in the area.

The new campus will allow students to complete their BSN within a span of three years. Also, the program motivates healthcare students to join the workforce in a short time so that they can impact the society on an immediate basis.

With respect to the latest opening, Karen Cox, president of Chamberlain University, stated,” Expanding access to nursing education is a critical first step to address the nursing shortages and ensure our employer partners are able to offer quality care in their communities.”

Share Performance

Shares of Adtalem have gained 23.1% in a year, compared with the industry’s 8.4% growth. The company has been benefiting from robust financial performance across the Medical and Healthcare segments, including a double-digit increase in total enrollment at Chamberlain University.

Notably, Chamberlain’s new and total student enrollment was solid in the fiscal second quarter of 2021, improving 8.1% and 10.2% in the December session, and 13.2% and 11.9% in the September session, respectively, from a year ago.

During the second quarter of fiscal 2021, Chamberlain revenues increased 13.2% (or $16.5 million) to $142 million. The increase can be primarily attributed to a rise in total student enrollment during each fiscal year 2021 enrollment session along with a hike in non-tuition fee price.

Zacks Rank

Adtalem — which shares space with American Public Education, Inc. (APEI - Free Report) , Strategic Education, Inc. (STRA - Free Report) and GP Strategies Corporation in the Zacks Schools industry — currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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