Private equity-backed Cambridge Education Group has acquired iheed, an online medical education provider, bolstering its virtual offering, CEG Digital.
Founded in Dublin, Ireland, in 2010, iheed sells online and blended medical education programmes developed in collaboration with leading universities and postgraduate training organisations.
The value of the transaction was not disclosed.
Cambridge Education Group, which is owned by Bridgepoint, encompasses ONCAMPUS, Universities USA and CEG Digital. The latter offers a suite of services that enable ‘partner’ institutions to identify, market and deliver online and blended courses. Meanwhile, ONCAMPUS and Universities USA provide pre-university, or pathway, programmes in the UK, US, and Europe.
Cambridge Education Group used to also own CATS Colleges, a group of top-tier sixth form colleges, which was acquired by China-based Bright Scholar in July 2019 for £150 million.
iheed will complement CEG Digital, which at present has seven partner universities in the UK, the firms said in a statement.
Brendan Webb, co-chief executive of Cambridge Education Group, said: “As pioneers of innovative online medical education, the synergies between iheed and CEG are undeniable, and this new collaboration brings with it the potential for significant social and economic impact.
“Through CEG’s global education experience, and iheed’s medical expertise and pedagogical model, our ambition is to make a rigorous medical education accessible, affordable and effective.
“As an international education provider, we have both an opportunity and a responsibility to respond to the demands of a rapidly evolving global workforce and we’re confident that our acquisition of iheed will facilitate the development of state-of-the-art solutions for aspiring medical professionals across the world.”
Boutique investment bank IBIS Capital advised iheed shareholders on its sale to Cambridge Education Group.
Date published: 7 April 2021