Leeds Equity Partners (“Leeds Equity”), a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training, and information services industries, has announced that it has formed a new healthcare education and licensure platform with the completion of the acquisition of Archer Review (“Archer” or the “Company”), a provider of test preparation solutions for high-stakes medical exams.
The healthcare profession in the United States, which today employs over 16 million people, is characterized by a significant shortage of qualified and trained nurses, doctors, and other practitioners. This labour gap is expected to persist for the foreseeable future. Over the last two decades, Leeds Equity has been steadfast in its mission to find and build a platform to help solve some of these critical healthcare labour shortages.
Speaking on the deal, Jacques Galante, Partner of Leeds Equity, said:
The acquisition of Archer provides a strong foundation to continue to help aspiring nurses enter the healthcare profession and aligns with our history of backing businesses, bringing innovative, outcome-oriented solutions that expand workforce access. Archer has achieved tremendous outcomes by providing a superior product portfolio and through its relentless focus on the success of its students.
Archer Review provides high-quality, effective test preparation solutions primarily for nursing students seeking to pass the National Council Licensure Examination (NCLEX) to become licensed nurses. The Company offers an integrated and holistic test prep experience, which includes question banks, asynchronous content, live webinars, predictive assessments, and tutoring, delivering unparalleled outcomes and ensuring students are best prepared for the NCLEX. It also offers additional test preparation and supplemental materials for students along the nursing journey and in medical school. Leeds Equity plans to significantly expand these offerings in its new partnership with the Archer management team, signalling growth and development in the healthcare education sector.
Karthik Koduru, Founder and CEO of Archer, stated:
Partnering with Leeds Equity marks a pivotal milestone for Archer, enhancing our ability to deliver optimal student outcomes throughout their nursing and medical education journeys. We are proud to collaborate with Leeds Equity, given their proven track record of supporting and growing businesses in professional education, especially in certification and test preparation.
As part of the agreement, Latham & Watkins served as Leeds Equity Partners’ legal counsel, and Hunton Andrews Kurth served as Archer’s legal counsel.
Leeds Equity was founded in 1993 and currently manages over $6 billion of capital across a broad spectrum of companies within the Knowledge Industries. The Company seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies and investors.
