LANCASTER, Calif., Dec. 18, 2024 /PRNewswire/ — Legacy Education Inc. (NYSE American: LGCY), a leader in career-focused educational services, is proud to announce the successful completion of its acquisition of Contra Costa Medical Career College (“CCMCC”), located in Antioch, California, pursuant to the execution of its previously announced asset purchase agreement (“APA”) on October 30, 2024 for a purchase price of $8,000,000. The purchase price is as follows: (i) $6,133,079.84 was paid at closing (which, pursuant to the APA was $6,600,000 as adjusted for the certain estimated closing capital as set forth in the APA), (ii) a promissory note in the principal amount of $400,000 was issued at closing and (iii) the Company issued 118,906 shares of its common stock equivalent to $1,000,000. The acquisition of CCMCC expands Legacy Education’s footprint to six campuses across California, further enhancing its ability to deliver high-quality allied health education in Northern California.
CCMCC has long been recognized for its commitment to excellence in healthcare training, offering programs such as Surgical Technology, Vocational Nursing, Sonography and more. This acquisition aligns with Legacy Education’s strategy to meet the increasing demand for skilled healthcare professionals and to expand access to education for students seeking careers in this vital industry.
“We are thrilled to officially welcome Contra Costa Medical Career College to the Legacy Education family,” said LeeAnn Rohmann, CEO of Legacy Education. “This acquisition reflects our ongoing commitment to providing accessible, industry-relevant education that empowers students to build meaningful careers. Together, we are better positioned to serve the healthcare sector’s growing workforce needs while transforming lives through education.”
With this acquisition, Legacy Education strengthens its portfolio and reinforces its mission to innovate and deliver career-ready education. The integration of CCMCC will enhance the availability of cutting-edge training, ensuring students are equipped to excel in their chosen fields.
ABOUT LEGACY EDUCATION
Legacy Education (NYSE: LGCY) is an award-winning, nationally accredited, for-profit post-secondary education company founded in 2009. Legacy Education provides career-focused education primarily in the healthcare field, with certificates and degrees for nursing, medical technicians, dental assisting, business administrative, and several others. The Company offers a wide range of educational programs and services to help students achieve their professional goals. Legacy Education’s focus is on providing high-quality education that is accessible and affordable. Legacy Education is committed to growing it’s education footprint via organic enrollment growth, addition of new programs and accretive acquisitions. For more information, please visit www.legacyed.com or on LinkedIn @legacy-education-inc.
