Education Management Corporation
Education Management Corporation (EDMC) was a Pittsburgh, Pennsylvania-based operator of for-profit post-secondary educational institutions in the United States and Canada. The company was founded in 1962. At its peak in 2011, Education Management Corporation operated 110 schools through its higher education divisions: Argosy University, The Art Institutes, Brown Mackie College, and South University, and enrolled 158,300 students.
| Company type | Public |
|---|---|
| Industry | For-profit education |
| Founded | 1962 |
| Defunct | 2018 |
| Fate | Bankrupt. Acquired by Dream Center. |
| Headquarters | Pittsburgh, Pennsylvania , United States |
Number of locations | 110 campuses |
Area served | United States, Canada |
Key people | Mark A. McEachen (CEO, Chairman); Ryanne Dean, Talent Acquisition Manager |
| Website | www |
Facing declining enrollment, legal issues, and accreditation problems, EDMC closed or sold many of its schools between 2013 and 2017. By 2014, the company's stock had lost 99.9% of its value, and EDMC received a defaulted bond rating (to junk bond status). Moody's credit rating service in January 2015 dropped EDMC to its lowest rating, D-PD.
In June 2018, EMDC filed for Chapter 7 bankruptcy and began to liquidate its assets.