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California Association of Private Postsecondary Schools

For-Profit That Took Over 4 Corinthian Campuses Files for Bankruptcy

07/23/2014

The Chronicle of Higher Education. July 22, 2014.

BioHealth College Inc., a for-profit company that acquired its four campuses from Corinthian Colleges last year, has filed for bankruptcy, The Wall Street Journal reports.The company operates four campuses in California, all of which it acquired from Corinthian in January 2013.

Corinthian Colleges agreed this month to sell the vast majority of its campuses afterfederal student-aid restrictions imposed by the U.S. Education Department put its financial future in doubt. Corinthian paid BioHealth $2.3-million to take over four of its Everest College campuses, which were then renamed Bryman College.