Covista (CVSA) 2026 Jefferies Healthcare Services and Technology Conference summary

Strategic focus and portfolio evolution

• Shifted from a diversified conglomerate to a focused healthcare education platform, divesting non-core assets and acquiring Walden University to consolidate five healthcare-centered institutions.

• Programs emphasize medicine, veterinary medicine, nursing, and social work, leveraging high barriers to entry and strong competitive moats.

Operational achievements and growth strategies

• Achieved 12 consecutive quarters of enrollment growth, high single-digit revenue growth, and expanded margins over the last three years.

• Launched a new three-year strategy to extend platform reach and institutional impact, building on operational excellence.

Campus expansion and market opportunity

• Announced plans to open 10-15 new Chamberlain campuses, each requiring $9M-$12M CapEx and reaching EBITDA break-even within 24 months.

• Initial new campuses in Cincinnati, Salt Lake City, and Nashville target markets with significant nursing shortages and opportunities for healthcare partnerships.