Transaction includes injection of growth capital to accelerate platform development and drive market leadership in Medical and Allied Health Sciences Education
KINGSTON, ON, CANADA, July 11, 2023/EINPresswire.com/ — Elentra Corp today announced that it has been acquired by Achieve Partners, a leading social impact investment firm focused on digital transformation in the Medical and Allied Health Sciences Education market. Built by universities for universities, Elentra offers a fully integrated digital platform providing an end-to-end solution that manages all aspects of curriculum delivery and assessment requirements to support the education and development of next generation healthcare leaders.
With over 40 of the world’s leading medical and health sciences educational institutions already using the Elentra platform, Achieve believes the company is ideally positioned to lead the market as it consolidates. As part of the transaction, Achieve will contribute growth capital to scale the company and accelerate development of the Elentra platform.
“Medical and allied health are two of the areas of our economy where we have the greatest shortage for trained professionals today. Medical education has unique needs that are not met by generic education software platforms,” said Achieve Partners’ Managing Director Troy Williams. “Elentra is unique in that it was initially developed by a medical school for its own needs and then expanded in conjunction with a consortium of additional medical schools. We’re excited to invest in further expanding the capabilities of the Elentra platform to meet a broader set of medical and allied health institutions’ needs.”
The company will continue to operate as Elentra under the leadership of CEO Greg Vanclief.
“Elentra’s acquisition by Achieve Partners is a natural next step to scale, expand and position our company to meet growing market demand. It is also a direct reflection of the trust our customers put in us every day to help them educate and develop the next generation of healthcare leaders,” said Greg Vanclief, CEO of Elentra. “That critical mission is at the heart of our company’s DNA and with this new commercial foundation in place we are ideally positioned with the investment and capacity needed to further develop our platform, to enhance customer service and support, and to not only thrive but to drive the industry.”
The acquisition was unanimously approved by Elentra’s Board of Directors, and the company’s founding academic partner and key shareholder Queen’s University.
“From the outset, Elentra’s mission was to build a grassroots digital platform that meets the needs of medical schools and health professions programs. With this transaction, we are excited to see Elentra expand and accelerate that mission further,” said Jane Philpott, Dean, Queen’s Health Sciences. “For Queen’s University, as a founding partner and a shareholder, today’s announcement is a moment to celebrate the company’s early success as we create a new and fully commercial foundation to make Elentra the market standard for educational institutions everywhere.”
With a differentiated solution that is unique in the market, Elentra provides customers with a single source of truth throughout the learner’s journey and simplified user experience.
Tyton Partners served as financial advisor, Kelly Santini LLP acted as legal advisor, and KPMG acted as tax advisor to Elentra. McGuireWoods LLP and Stikeman Elliot LLP acted as Legal Advisors, and Crowe acted as tax advisor to Achieve.
Financial terms of the transaction were not disclosed.
About Elentra
Built by schools, for schools, Elentra empowers health sciences schools to deliver the highest quality education to their students with confidence. With its innovative technology and comprehensive features, Elentra provides a robust platform for managing curriculum, assessments, scheduling, and more. By streamlining administrative processes and enhancing collaboration, Elentra enables educators to focus on what matters most – fostering an exceptional learning experience. To learn more about Elentra, please visit www.elentra.com
About Achieve Partners
Achieve Partners is engineering the future of learning and earning by investing in cutting-edge technologies and novel business models to bolster skill development and secure the future of work for millions of Americans. By harnessing digital transformation, Achieve helps teachers, administrators, and schools improve student learning and outcomes. To learn more about Achieve Partners, please visit www.achievepartners.com
About Queen’s University
Queen’s University has a long history of scholarship, discovery, and innovation that shapes their collective knowledge and helps address some of the world’s most pressing concerns. Home to more than 25,000 students, Queen’s offers a comprehensive research-intensive environment. Diverse perspectives and a wealth of experience enrich their students and faculty while a core part of our mission is to engage in international learning and research. To learn more about Queen’s University, please visit www.queensu.ca
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