Covista
A United States-based for-profit education company focused primarily on healthcare and professional education.
Last updated October 16, 2026
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Overview
Covista is the corporate successor to DeVry Inc., DeVry Education Group, and Adtalem Global Education, a United States-based operator of for-profit higher-education institutions. The company is headquartered in Chicago, Illinois, and operates a portfolio centered mainly on healthcare professional education. Its institutions have included American University of the Caribbean School of Medicine, Chamberlain University, Ross University School of Medicine, Ross University School of Veterinary Medicine, and Walden University. The organization traces its corporate history to the 1987 combination of DeVry Institute of Technology and the Keller Graduate School of Management. DeVry Institute began in Chicago in 1931 as the DeForest Training School and was acquired by Bell & Howell in 1967. Keller Graduate School of Management was established in 1973 by two former DeVry teachers. After the 1987 combination, DeVry Inc. expanded through acquisitions and became a publicly traded education company, listing on the New York Stock Exchange in 1995. The company adopted the name DeVry Education Group in 2013. During the 1990s and 2000s, the group combined traditional campus-based education with distance learning and professional certification services. It acquired Becker CPA Review in 1996, Ross University School of Veterinary Medicine in 2003, the nursing institution that became Chamberlain University in 2005, and American University of the Caribbean in 2011. These transactions broadened the company beyond its original technology and business-school roots. The company faced extensive scrutiny associated with the United States for-profit higher-education sector. Regulators, legislators, students, shareholders, and former employees raised allegations concerning advertising, graduate employment claims, recruiting practices, student outcomes, use of federal aid, and incentive compensation. In 2016, the Federal Trade Commission announced a $100 million settlement with DeVry Education Group concerning allegedly deceptive advertising. The settlement included cash payments to students and forgiveness of student loans. The company denied wrongdoing in the underlying allegations while agreeing to the settlement. Following the regulatory and reputational pressure, the company changed its corporate identity. It became Adtalem Global Education in 2017, with management presenting the new name as a signal of a renewed emphasis on professional education, particularly healthcare and financial services. The company subsequently began divesting businesses associated with its legacy DeVry portfolio. DeVry University and Keller Graduate School of Management were sold in 2018, and Carrington College was also divested. The company later sold or transferred several financial-services education assets, including Becker Professional Education and OnCourse Learning, while reducing its exposure to Brazilian operations. Healthcare became the central strategic focus. Adtalem agreed in 2020 to acquire Walden University for approximately $1.5 billion, completing the transaction in 2021 after regulatory and accreditation approvals. The acquisition substantially increased the group's scale in nursing and graduate education. By the early 2020s, the portfolio operated campuses and distance-learning programs across multiple countries and served students in a wide range of territories. The company also partnered with Hippocratic AI in 2024 on training healthcare professionals to work with artificial-intelligence systems. The corporation relocated its headquarters within Chicago over time, moving from Downers Grove to the West Loop and later planning expanded office space in Willis Tower. Stephen Beard became chief executive officer in 2021 and was named board chair in 2024. In 2026, the corporation adopted the name Covista. Under that identity, it represents the continuation of the former Adtalem organization rather than a newly established education provider.
History
Covista's corporate lineage begins with two Chicago-area education organizations. DeVry Institute of Technology originated in 1931 as the DeForest Training School, a technical training institution later acquired by Bell & Howell in 1967. Keller Graduate School of Management was founded in 1973 by two former DeVry teachers. In 1987, the company acquired DeVry Institute from Bell & Howell and combined it with Keller, creating DeVry Inc. DeVry became a public company in 1991 and moved its listing to the New York Stock Exchange in 1995. Its growth strategy combined expansion of degree-granting institutions with acquisitions in professional education. Becker CPA Review joined the group in 1996, adding preparation for the Certified Public Accountant examination. Ross University School of Veterinary Medicine was acquired in 2003, followed by the nursing institution that became Chamberlain University in 2005 and American University of the Caribbean in 2011. The company changed its corporate name to DeVry Education Group in 2013. During this period, it maintained a broad portfolio spanning technology, business, nursing, medical, veterinary, and professional education. It also expanded its geographic and delivery footprint through campus-based programs and online learning. The company moved parts of its corporate operations from Downers Grove and other Chicago locations into the West Loop, eventually establishing its headquarters at 500 West Monroe Street. The group came under growing scrutiny during a period of heightened criticism of United States for-profit colleges. In 2013, Illinois and Massachusetts authorities were reported to be investigating DeVry. Congressional scrutiny of the sector also examined student withdrawal rates, marketing expenditure, federal-aid dependence, and student debt. Separate litigation alleged misleading employment and earnings claims, deceptive recruiting, breach of contract, and improper incentive practices. In January 2016, the Federal Trade Commission sued DeVry Education Group over allegedly false or misleading advertising. The matter concluded in December 2016 with a $100 million settlement. The agreement included approximately $49.4 million in cash payments and about $50.6 million in loan forgiveness for students. The company also faced a shareholder class action over statements concerning graduate employment and comparative earnings; that matter was settled in 2019 for $27.5 million. A former administrator separately brought a 2017 employment-related action alleging retaliation and wrongful termination after raising concerns about incentive-based compensation. The company responded to the reputational environment with a major strategic and identity shift. It adopted the name Adtalem Global Education in 2017 and said the change reflected a stronger emphasis on professional education, especially healthcare and financial services. It then began selling businesses that did not fit the new focus. Carrington College was sold in 2018, as were DeVry University and Keller Graduate School of Management. Becker's healthcare test-preparation assets were transferred to Kaplan in 2019, while the company's Brazilian operations were divested in 2020. Healthcare education became the core of the organization. Adtalem agreed in 2020 to buy Walden University for approximately $1.5 billion, and the deal closed in 2021 after required approvals. The acquisition made the company a particularly large provider of nursing and graduate education. In 2022, Colibri Group acquired Becker and OnCourse Learning, and Adtalem also sold the Association of Certified Anti-Money Laundering Specialists to Wendel. These transactions further narrowed the business toward healthcare. By the early 2020s, the group operated a mixture of campuses and distance-learning programs. Its institutions served students in many countries and territories, with online education representing a substantial share of enrollment. Stephen Beard became chief executive officer in 2021 and became board chair in November 2024. In 2024, the company announced a partnership with Hippocratic AI to support artificial-intelligence training for healthcare professionals and planned expanded office facilities in Willis Tower. In 2026, the organization adopted the Covista name, marking another stage in the evolution of the former DeVry and Adtalem education group.
- 2026
The company adopts the Covista name
[1]Adtalem Global Education is renamed Covista.
- 2022
Financial-services education assets are sold
[1]Colibri Group acquires Becker and OnCourse Learning, while ACAMS is sold to Wendel.
- 2021
Walden acquisition closes and Stephen Beard becomes CEO
[1]The Walden transaction closes and Stephen Beard takes over as chief executive.
- 2020
Walden University acquisition is announced
[1]Adtalem agrees to acquire Walden University for approximately $1.5 billion.
- 2018
Legacy education businesses are divested
[1]Carrington College, DeVry University, and Keller Graduate School of Management leave the group.
- 2017
Adtalem Global Education rebrand
[1]DeVry Education Group adopts the Adtalem Global Education name and begins a healthcare-focused repositioning.
- 2016
Federal Trade Commission settlement
[1]The company agrees to a $100 million settlement concerning allegedly deceptive advertising.
- 2013
DeVry Inc. becomes DeVry Education Group
[1]The corporate name changes as the company presents itself as a broader education group.
- 2011
American University of the Caribbean is acquired
[1]The group expands its medical-school operations through the acquisition of American University of the Caribbean.
- 2005
Chamberlain enters the group
[1]The company acquires Deaconess School of Nursing, later known as Chamberlain University.
Products and positioning
A multi-institution education platform positioned around career-oriented and healthcare professional education, with substantial use of online and distance learning.
Medical education
American University of the Caribbean School of Medicine
A medical school serving students pursuing physician training. It is part of Covista's international medical-education portfolio and reflects the group's emphasis on professional healthcare pathways.
Nursing education · 2005
Chamberlain University
A nursing-focused university offering degree programs designed for students entering or advancing in the nursing profession. Chamberlain is one of the group's principal healthcare education institutions.
Medical education
Ross University School of Medicine
An international medical school providing physician education and training. Its acquisition expanded the parent group's presence in professional healthcare education.
Veterinary education · 2003
Ross University School of Veterinary Medicine
A veterinary medical institution offering professional education for prospective veterinarians. It has been part of the organization's healthcare and life-sciences portfolio since its acquisition in 2003.
Online higher education
Walden University
A predominantly distance-learning university offering undergraduate and graduate programs across professional fields, including nursing and other healthcare disciplines. Its acquisition significantly increased the group's scale in online graduate education.
Controversies
2019
Shareholder litigation over graduate-outcome statements
A shareholder class action alleged that the company made misleading statements concerning DeVry graduate employment rates and earnings comparisons. The case was settled for $27.5 million.
2019
DeVry settles securities class action for $27.5 million
DeVry Education Group and four executives settled a class action brought by Utah Retirement Systems for $27.5 million. The lawsuit alleged false statements to investors about graduates' job placement and salary outcomes; the article reports the allegations and settlement, not a court finding on the claims.
2017
Former administrator alleges retaliation over incentive compensation
A former administrator filed a civil action alleging retaliation and wrongful termination after raising concerns about an incentive-based compensation program connected with recruitment and enrollment.
2016
Federal Trade Commission deceptive-advertising settlement
The Federal Trade Commission alleged that DeVry's advertising made false or misleading claims about graduate employment and earnings. The company agreed to a $100 million settlement, including cash payments to students and forgiveness of student loans.
Marketing campaigns
- 2024Healthcare artificial-intelligence training partnership
United States
Adtalem partnered with Hippocratic AI to support training for healthcare professionals using artificial-intelligence technologies.
- 2017Adtalem Global Education rebrand
United States · International markets
The company introduced the Adtalem Global Education identity to communicate a new emphasis on professional education and to distinguish the corporate group from the legacy DeVry brand.
Outcome. The rebrand accompanied divestitures of non-core education assets and a longer-term concentration on healthcare education.
Brand decisions
2026
Adoption of the Covista corporate identityStrategyBackground
The organization continued the sequence of corporate identity changes that began with the transition from DeVry to Adtalem.
Action taken
Adtalem Global Education renamed itself Covista.
2022
Exit from financial-services education assetsM&ABackground
The company was narrowing its business around healthcare education after several years of portfolio restructuring.
Action taken
Adtalem sold Becker and OnCourse Learning to Colibri Group and sold ACAMS to Wendel.
Aftermath
The divestitures left healthcare education as the company's primary strategic focus.
2020
Agreement to acquire Walden UniversityM&ABackground
The company sought to expand its scale in graduate and nursing education during a period of strong demand for healthcare professionals.
Action taken
Adtalem agreed to purchase Walden University for approximately $1.5 billion, subject to required approvals.
Aftermath
The acquisition closed in 2021 and materially expanded the company's online and graduate healthcare education operations.
announced transaction value. Approximately $1.5 billion (September 2020 announcement)
2017
Shift toward professional and healthcare educationStrategyBackground
Regulatory scrutiny and reputational challenges affected the legacy DeVry portfolio, while demand for healthcare professionals supported a more specialized strategy.
Action taken
The company adopted the Adtalem Global Education name and began selling education businesses outside its preferred professional and healthcare sectors.
Aftermath
The portfolio became increasingly concentrated in medical, nursing, veterinary, and other healthcare education.
Recent events
DeVry settles securities class action for $27.5 million[2]
Reported:
DeVry Education Group and four executives settled a class action brought by Utah Retirement Systems for $27.5 million. The lawsuit alleged false statements to investors about graduates' job placement and salary outcomes; the article reports the allegations and settlement, not a court finding on the claims.
Sources2 sources
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