Services
Schools
NASD: EDMC
Education Management Corp.
Robert B. Knutson
Chairman and
Chief Executive Officer
Interview conducted by:
Walter Banks
Co-Publisher
CEOCFOinterviews.com
March 2002
Company Profile:
Education Management Corp.
Education Management Corporation is among the largest providers of private
post-secondary education in North America, based on student enrollment and revenue, with
40 primary campus locations in 26 major cities, and with approximately 39,000 students as
of fall 2001. EDMC's Art Institutes offer master's, bachelor's, associate's and non-degree
programs in the areas of design, media arts, fashion and culinary arts. EDMC's Argosy
University provides doctoral, master's, bachelor's and associate's degree programs in the
behavioral sciences, education, business and health sciences fields. Through Argosy’s
ITI Information Technology Institute, EDMC offers a graduate business and technology
program in three major Canadian cities.. EDMC’s
schools provide career-focused education that maximizes employment opportunities for
graduates.
EDMC has provided career-oriented education for 40 years, and its education institutions
have more than 135,000 alumni. Their graduates have won Pulitzer prizes, manage Intranet
sites, make movies, help people through professional psychology, identify e-business
solutions, serve as college professors, produce flight simulation programs, manage
businesses, create residential and commercial interiors, assist in the medical and dental
fields, win awards for fashion design, work as corporate trainers, produce print and
electronic advertisements, develop consumer package designs, and make their mark in the
culinary profession. The Art Institutes, a nation-wide system of 24 post-secondary
education institutions, offer programs in the creative and applied arts. As industry and
technology evolve, so do the Academic programs that they offer. The 12 primary campuses of
Argosy University offer student-centered undergraduate and graduate level programs
concentrated in the behavioral sciences, education, business and health sciences fields.
Campus Locations:
The
Art Institutes
The Art Institute of Atlanta®, CaliforniaSM, Charlotte®, Colorado®, Dallas®,
Fort Lauderdale®, Houston®, Las VegasSM, Los Angeles®, Los Angeles – Orange
CountySM, The Art Institutes International MinnesotaSM, The Art Institute of Pittsburgh®,
Portland®, Philadelphia®, Phoenix®, Seattle®, The Art Institutes International at San
FranciscoSM, The Art Institute of Washington®, The Illinois Institute of Art —
Chicago®, The Illinois Institute of Art — Schaumburg®, International Fine Arts
College®, The New England Institute of Art & CommunicationsSM, The New York
Restaurant SchoolSM, The Art Institute OnlineSM
Argosy Education Group
Argosy
University
Primary Campuses
Washington, D.C., Atlanta, Georgia, Chicago, Illinois, Honolulu, Hawaii, Twin
Cities, Minnesota, Orange County, California, Phoenix, Arizona, San Francisco Bay Area,
California, Chicago Northwest, Illinois, Sarasota, Florida, Seattle, Washington, Tampa,
Florida
Extension
Sites
Clearwater, Florida, Savannah, Georgia, Hilo, Hawaii, Kauai, Hawaii, Maui, Hawaii,
Nashville, Tennessee
Western
State University College of Law
Fullerton, California
Argosy
Profesional Services
Association for Advanced Training in Behavioral Sciences (AATBS), The Connecting Link.
ITI
Information Technology Institute
Halifax, Nova Scotia, Toronto, Ontario, Vancouver, British Columbia
CEOCFOinterviews: Mr.
Knutson, please give us a brief history of Education Management?
Mr. Knutson: "I
have been with the company for some 30 years. Prior to that I was in Wall Street with J.P.
Morgan and Drexel, Harriman Ripley, involved in various corporate finance activities. When
I came to Pittsburgh, we had one school, the Art Institute of Pittsburgh with 600 students
and 80 faculty and staff. Over the years we acquired small schools and started schools,
doing all of the things that you do to make a small business larger..
The company had two leveraged financings in the 1980s, which were successful. We
established a large employee stock ownership plan with the second financing in 1989. In
1996, we became publicly owned. At that stage, Education Management had 14 education
institutions, which were mostly Art Institutes, and 16,000 students. Currently EDMC
comprises some 40 primary campus locations, and as of last fall, 39,000 students."
CEOCFOinterviews: What
academic programs do you offer?
Mr. Knutson: "Our
academic programs range from associate degree to doctoral degree, and are concentrated in
the creative and applied arts, behavioral sciences and education fields. Our two principal divisions are the Art Institutes
with 24 institutions and Argosy University, which has 12 primary campus locations. We also
have three business and technology schools in Canada, which have recently been combined
with Argosy Education Group, the parent company of Argosy University."
CEOCFOinterviews: Can
you give us a picture of your revenue growth since going public?
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