On January 10, Laureate International agreed to sell Universidad Latina to the US conglomerate SP Costa Rica Holdings, a transaction that amounted to $22 million.
The agreement was that SP Costa Rica Holdings would make an initial payment of $15 million and the remaining $7 million would be cancelled within two years, if income and new student enrollment goals are met.
Enrollment levels at private universities are the same as those in public institutions, and the annual income of some of them is over $30 million.
Panamaamerica.com.pa reports: "In recent years these universities have continued to grow, not only in new students, for which they account for 48% of the country's total, but also in market share, which demonstrates how much of a big business they have become. "
For promoting unapproved courses, failures in the self-assessment process, and other serious offenses, the government of Panama has now closed four universities.
Other tertiary education institutions in Panama have been punished with temporary suspensions.
Laestrella.com.pa reports that "The President of the Republic, Ricardo Martinelli, signed Executive Order 1205 of December 4, 2012 to close [definitively] International University, located in El Cangrejo."
Costa Rican universities are rushing to complete infrastructure investments, in order to increase academic offers that are health-related.
An article in Elfinancierocr.com reviews the plans and work in progress at several universities, including the Universidad Hispanoamericana (UH), which in early 2014 will unveil a new eight-story building and 10,000 square feet of construction dedicated to teaching health sciences.
The owner of both universities, Laureate Costa Rica, is awaiting approval from the authorities to merge both into a single education center.
A press release from the institution reported that the new center, if approved, would become the country largest private university, with over 30.000 students.
“This merger is being studied by the corresponding authorities”, informed company spokesperson Cindy Madrigal.
In these times of crisis the need to be better academically prepared is more clear, and how to go about doing it requires an in-depth analysis.
Nancy Cueto, the director of International Development at IE University, notes in her article published in Americaeconomia.com: “Graduate studies are always a boost in any professional career, but the extra benefit depends on having the right focus and if the investment in this level of education is really more profitable.”
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