Walden University is owned by Covista Inc. (NYSE: CVSA), formerly Adtalem Global Education, America's largest healthcare educator headquartered in Chicago, Illinois. Covista acquired Walden in August 2021 for approximately $1.48 billion from Laureate Education. Founded in 1970 by Bernard and Rita Turner in Minneapolis, Minnesota, Walden serves over 54,000 students through fully online degree programs in nursing, business, healthcare, education, and psychology.
Parent Company
Unknown
Acquired
2021
Status
Private
Headquarters
Minneapolis, Minnesota, USA (administrative; fully online delivery)
Walden University was founded in 1970 by Bernard Turner and Rita Turner in Minneapolis, Minnesota. The Turners established Walden to provide access to higher education for working professionals and adult learners who could not attend traditional residential universities. The university's name was inspired by Henry David Thoreau's Walden, reflecting the founders' belief in self-improvement and purposeful living.
Walden was an early pioneer in distance learning, offering degree programs through correspondence and later through telecommunications technologies. The university's focus on working adult learners distinguished it from traditional residential universities. Walden's programs were designed for students employed full-time who needed flexible scheduling and asynchronous learning options.
The university received accreditation from the Higher Learning Commission (HLC), a regional accrediting body recognized by the U.S. Department of Education. This accreditation is essential for students to access federal financial aid and ensures that Walden's degrees are recognized by employers and other institutions.
Walden expanded its program offerings during the 1990s and 2000s, adding master's and doctoral programs in nursing, business administration, healthcare administration, education, psychology, and social work. The growth of broadband internet enabled Walden to transition from correspondence-based distance learning to fully online education, expanding its reach and enrollment.
In 2010, Laureate Education acquired Walden University. Under Laureate's ownership, Walden continued to expand its online programs, growing into one of the largest online universities in the United States.
In August 2021, Adtalem Global Education (now Covista) completed its acquisition of Walden from Laureate Education for approximately $1.48 billion. The acquisition required approval from the U.S. Department of Education, the Higher Learning Commission, and state authorization agencies. The deal made the combined company the largest provider of graduate nursing degrees in the United States.
Under Covista ownership, Walden has experienced sustained enrollment growth. The university achieved 12 consecutive quarters of total enrollment growth through Q3 FY2026. Total enrollment reached 54,474 students in Q3 FY2026, a 12.3% year-over-year increase and the highest in university history. New programs launched heading into the 2026 academic year, including clinical psychology and behavioral analysis, enrolled over 1,700 students. Walden received approval for seven new programs, including B.S. Special Education, B.S. Integrative Health, and a Post-Master's Certificate in Palliative Care.
On February 5, 2026, parent company Adtalem Global Education changed its name to Covista Inc. The individual schools within Covista, including Walden, did not change their names. CEO Steve Beard described the rebrand as reflecting what the company has built and the healthcare workforce crisis it aims to address.
What does Covista own?
Covista operates five accredited institutions: Chamberlain University, Walden University, Ross University School of Medicine, Ross University School of Veterinary Medicine, and American University of the Caribbean School of Medicine. Becker Professional Education operates as a professional certification division.
Is Covista publicly traded?
Yes, Covista is publicly traded on the New York Stock Exchange under the ticker symbol CVSA (formerly ATGE). The ticker changed on February 24, 2026. The company has been publicly traded since 1966 under various names.
Who founded Covista?
The company was founded in 1931 as DeVry Technical Institute by Herman A. DeVry. It was rebranded as Adtalem Global Education in 2017 and as Covista in February 2026.
Where is Covista headquartered?
Covista is headquartered in Chicago, Illinois. In 2025, the company moved to an 84,000-square-foot space in Willis Tower.
How many schools does Covista operate?
Covista operates five accredited institutions serving more than 100,000 students and 400,000 alumni across nursing, medicine, veterinary medicine, and graduate programs.
Who owns Covista?
Covista is publicly owned with shares traded on the NYSE under ticker CVSA. The company is owned by institutional investors, mutual funds, and individual shareholders.
What is Covista's revenue?
Covista reported FY2025 revenue of $1.79 billion, up 12.9% year over year, with adjusted EBITDA of $459.7 million and adjusted EPS of $6.67. Full-year FY2026 revenue guidance is approximately $2.07 billion.
Walden's fully online delivery model eliminates the need for physical campus infrastructure, reducing energy consumption, paper usage, and transportation-related emissions compared to traditional residential universities. The university has implemented digital-first administrative processes and paperless systems.
Covista's corporate sustainability efforts focus on addressing the U.S. healthcare workforce shortage. The company reports that more than 8.4 million open healthcare jobs exist in the United States. CEO Steve Beard has framed this as a potential "patient care crisis" if the gap continues to grow. Walden's nursing and healthcare programs directly address this shortage by training practitioners at scale.
Ethical educational practices at Walden include transparency in educational outcomes, graduation rates, and career placement statistics through regular reporting. The university maintains compliance with federal financial aid requirements, state authorization regulations, and regional accreditation standards.
No independent third-party sustainability certifications specific to Walden University have been verified.
Walden University's nursing programs have received recognition from U.S. News & World Report for online graduate nursing education and program flexibility. The university has been acknowledged by nursing education organizations for online nursing program innovation and faculty excellence.
Covista, as parent company, has received recognition for workplace diversity and ethical business practices in education. The company's role in addressing healthcare workforce shortages through scaled online education has been noted in industry coverage.
No specific independent awards for the 2026 calendar year have been verified for Walden University as a standalone institution.
Walden University has faced several significant controversies, primarily related to its for-profit online education model and nursing program practices.
In 2020, the U.S. Department of Justice and several other federal agencies investigated Walden University over allegations that it misrepresented aspects of its Master of Science in Nursing program. The investigation examined whether Walden falsely advertised the content and cost of the MSN program and the availability of clinical site placements required for mandatory practicum courses. A qui tam lawsuit filed under the False Claims Act alleged that Walden engaged in a "bait and switch" scheme, telling students it would help secure clinical placements but requiring students to find their own preceptors and clinical sites.
The Higher Learning Commission placed a governmental investigation designation on Walden in October 2020, which required the university to submit regular reports about its legal situation. HLC removed the designation in May 2021 after the DOJ declined to intervene in the lawsuit. The removal cleared a major hurdle for the Adtalem acquisition, which closed in August 2021.
In 2016, class action lawsuits alleged that Walden lied about the cost and length of its graduate programs, falsely suggesting they were cheaper and faster to complete than they actually were.
Higher education advocacy groups, including the Center for Responsible Lending, The Institute for College Access and Success, and the American Federation of Teachers, opposed the Adtalem acquisition of Walden. They cited both institutions' troubling track records with misleading recruitment and other unlawful practices. The groups called on the Department of Education to place limits on Adtalem's ability to grow programs and enrollment at Walden after the deal closed.
In 2025 and 2026, nursing professionals raised concerns about Walden's accelerated MSN Nurse Practitioner program, which was shortened from 1.5 years to 1.3 years. Critics questioned whether the compressed timeline provides adequate clinical training, particularly given that students must still find their own preceptors. The program's structure, which allegedly conflates Adult Primary Care and Adult Acute Care tracks, drew scrutiny from nursing educators.
The for-profit higher education sector as a whole faces ongoing regulatory scrutiny from the U.S. Department of Education and state regulators. Potential changes to federal financial aid policies create regulatory risk for Walden's enrollment and revenue.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Adtalem Global Education | USA | 1889 | Mass market | United states | All Genders | |
| Adtalem Global Education | Kingdom of the Netherlands | 1978 | Niche | United states | All Genders |
EducationOwned by Unknown Company
Healthcare education institution offering nursing and public health degree programs, owned by Adtalem Global Education.
EducationOwned by Unknown Company
Caribbean-based offshore medical school offering the Doctor of Medicine degree, owned by Adtalem Global Education Inc. since 2011.
Market Positioning: Walden University competes with 2 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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