Adtalem Global Education

What Adtalem Global Education does

Covista Inc., formerly Adtalem Global Education, is a publicly traded healthcare education company (NYSE: CVSA, ~$3.90B market cap as of March 2026) that operates five accredited post-secondary institutions focused on nursing, medicine, and veterinary medicine. Its portfolio includes Chamberlain University (the largest nursing program in the U.S.), Walden University (online healthcare and professional education), American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The company enrolls 97,010 students across campus-based and online programs, produces 24,000+ healthcare graduates annually, and maintains a 290,000+ alumni network practicing worldwide, with medical graduates achieving a 95% first-time residency attainment rate.

The business operates on a tuition-based recurring revenue model, with Q2 FY2026 revenue of $503.4 million (up 12.4% year-over-year) and ten consecutive quarters of enrollment growth. Beyond traditional degree delivery, the company is building a healthcare-AI curriculum stack anchored by a partnership with Google Cloud to launch a Healthcare AI Credential Program in 2026, complemented by a co-development partnership with Hippocratic AI for AI-powered training solutions. Distribution combines direct institutional enrollment through institution websites, online/digital programs (notably expanded at Walden and Chamberlain), and international medical-school pathway programs in India, UK, and the US developed with University of Wolverhampton and ScribeAmerica.

The go-to-market targets two primary segments: prospective healthcare students enrolling directly into degree programs, and healthcare systems/clinical institutions seeking workforce upskilling and continuing education. The company rebranded from Adtalem to Covista in February 2026 to sharpen its positioning around the U.S. healthcare workforce crisis, supported by the Covista Care Capacity Monitor research platform, the Covista Open Doors impact initiative, and an aggressive capital-return program ($150M completed buyback plus $750M authorized through December 2028). Recent financial actions include a $510 million term loan refinancing extending maturities to 2033 and reported insider and institutional buying activity exceeding $17 million in early 2026.

Name

Adtalem Global Education

Legal name

Covista Inc.

Website

https://adtalem.com

Company type

Public

Founded year

2026

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Covista Inc. (formerly Adtalem Global Education) is a publicly traded healthcare education company operating five accredited institutions that enroll 97,010 students in nursing, medical, and veterinary degree programs, producing 24,000+ graduates annually and a 290,000+ alumni network, with growing AI-curriculum partnerships.

Ownership category

akta.pro rank

Product category

Higher Education

NAICS

Colleges, Universities, and Professional Schools (6113), Educational Services (611), Colleges, Universities, and Professional Schools (61131)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Online Healthcare & Nursing Universities (Allied Health, RN-to-BSN, etc.) (EDAHALAF)

akta.pro secondary industries

Allied Health & Rehabilitation Sciences Schools (PT/OT/SLP, etc.) (EDAHAGAH), Government & Public Administration (EDAAAPAK), Core Digital Curriculum & Courseware (Full Programs & Units) (EDAFACAA)

Keywords

• Healthcare education
• Nursing programs
• Medical education
• Veterinary education
• Online higher education

Headquarters

HQ city

Downers Grove

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Healthcare Education Tuition: Revenue generated from tuition and fees across five accredited post-secondary institutions serving healthcare students. Revenue increased 12.4% year-over-year to $503.4 million in Q2 FY2026, with enrollment growing 6.3% to 97,010 students.
2. Professional Development Programs: Programs for healthcare professionals seeking upskilling and credentialing, including AI training certifications and specialty nursing programs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Adtalem Global Education (now operating as Covista) delivers accredited post-secondary healthcare education through five institutions offering degree and certificate programs in nursing, medicine, and veterinary medicine to individual students. The company also provides professional development, upskilling, and credentialing programs for working healthcare professionals, including an AI credential program developed with Google Cloud, and serves 97,010 enrolled students with 24,000+ healthcare graduates produced annually.

Product overview

Adtalem Global Education, rebranded as Covista in 2026, is a healthcare education company operating five accredited post-secondary institutions: Chamberlain University (nursing), Walden University (online healthcare/professional education), American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The company serves 97,010+ students with over 24,000 healthcare graduates annually and 290,000+ alumni practicing worldwide. The portfolio includes direct educational degree programs (nursing, medicine, veterinary medicine), online degree offerings, pathway programs to medical schools, and an AI credential program in partnership with Google Cloud. The company also operates the Covista Open Doors initiative focused on healthcare workforce sustainability.

Differentiator

Problem solved

Functional benefit

Brands

• Chamberlain University: Nursing education institution
• Walden University
• American University of the Caribbean School of Medicine (AUC)
• Ross University School of Medicine
• Ross University School of Veterinary Medicine
• Covista Open Doors
• Covista Foundation

Products and services

• Chamberlain University

Quantifiable outcome

• Revenue increased 12.4% year-over-year to $503.4 million in Q2 FY2026
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• University of WolverhamptoncoreStrategic or Co-development Partner · 23 October 2025Partnership to expand access to medical education through new pathways into medical schools. Part of initiatives in India, UK, and US involving collaborations with institutions providing conditional acceptances and scholarships to medical aspirants.
• ScribeAmericaminorStrategic or Co-development Partner · 23 October 2025Partnership providing pathways and support for medical aspirants through conditional acceptances and scholarships, part of efforts to address global shortage of healthcare workers.
• Google CloudcoreStrategic or Co-development Partner · 1 October 2025Partnership with Google Cloud to launch AI credential program for healthcare students and professionals, debuting in 2026. The program includes hands-on training with Google Cloud AI tools and coursework on ethical standards and applications in healthcare. This initiative addresses the rapid deployment of AI in healthcare and the workforce's need for safety and competency training.
• Hippocratic AIcoreStrategic or Co-development Partner · 10 September 2024Innovative partnership to advance healthcare education through development of AI-powered training and education solutions for healthcare professionals.
• AACN (American Association of Colleges of Nursing)coreStrategic or Co-development Partner · 25 July 2024Chamberlain University's partnership with AACN to launch Critical Care Nursing Practice Ready. Specialty Focused. course, providing specialized nursing education aligned with industry standards.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Perdoceo Education Corporation: Operates American InterContinental University and Colorado Technical University, both online-focused, for-profit post-secondary institutions. Comparable as a publicly traded, tuition-driven education company serving adult and healthcare-adjacent learners.
• Grand Canyon Education: For-profit education provider offering healthcare-focused degree programs including nursing and other pre-health tracks. Operates a similar tuition-driven, accredited-institution model and is commonly benchmarked alongside Covista in for-profit education coverage.
• 2U: Online program management company partnering with nonprofit universities to deliver degree programs, including in healthcare. Overlaps with Covista's Walden and Chamberlain online offerings in target learner and delivery model.
• Strategic Education: Parent of Strayer University and Capella University, both accredited post-secondary institutions with strong online healthcare and nursing programs. Closely comparable in business model, target learner, and for-profit regulatory exposure.
• St. George's University: Caribbean-based medical and veterinary school serving a similar international student funnel into U.S. and U.K. residency programs. The most direct comp to AUC and Ross Med within the offshore medical-school category.
• Laureate Education: International for-profit education operator with institutions across Latin America and other regions. Comparable in for-profit higher-education business model and exposure to international medical and health sciences programs.

Emerging players

• Coursera: Online learning platform offering credentials, certificates, and degree pathways, including healthcare and AI content. Adjacent competitor for adult upskilling and short-form credentials that may supplement or substitute for traditional degree programs.

Broad incumbents

• Bright Horizons Family Solutions: While primarily a child care and early education provider, BMO Capital Markets explicitly groups Covista with Bright Horizons as standout performers in the education sector. Useful as a benchmark for capital allocation and education-services investor sentiment.
• Kaplan (Kaplan North America): Operates higher education, test prep, and professional training businesses including healthcare-focused pathways. Comparable as a diversified, scaled education provider with healthcare-adjacent programs and similar workforce-development positioning.

Others

• Hippocratic AI: Healthcare-focused AI company with which Covista has a strategic partnership to develop AI-powered training and education solutions. Functions as a technology partner rather than competitor but is relevant given the Google Cloud AI credential overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCCcTofNvWpslEydQb-zEU9w
• LinkedInlinkedin.com/company/covista-official
• Instagraminstagram.com/lifeatcovista_
• Xx.com/adtalemglobal
• Facebookfacebook.com/AdtalemGlobalEducation

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Adtalem Global Education