AUA Receives California Approval
Devry Aquires AUC

A Special Announcement from AUC and DeVry Inc.

DeVry Inc. Announces Acquisition of American University of the Caribbean
Expands DeVry's Offering in High Quality Medical Education; Creates World's Leading Provider of International Medical Education

DOWNERS GROVE, Ill. - August 4, 2011 - DeVry Inc. (NYSE:DV), a global provider of educational services, today announced it has acquired the business operations of privately held American University of the Caribbean (AUC). AUC's medical school campus is located in St. Maarten, and its administrative offices are located in Coral Gables, Fla.

The acquisition of AUC is consistent with DeVry's growth and diversification strategy, increasing its presence in high quality medical and healthcare education and expanding its academic offerings at the post-baccalaureate level. AUC's total enrollment is approximately 1,000 students. DeVry was attracted to AUC because of its highly regarded faculty, commitment to academic excellence, and an accomplished network of alumni. In addition, AUC has strong partnerships with residency placement hospitals across the United States.

Medical Supplies Added to Bookstore

In partnership with University Books Online, ValueMD has added a new "Medical Supplies" section to the VMD Bookstore. In addition to the Virtual Bookstores already set up for various medical schools, this new section provides an easier way for users to purchase the medical supplies needed during their medical education, including stethoscopes, scrubs, lab coats, dissection kits, otoscopes, reflex hammers, and MUCH more.

As always, ValueMD users will receive $5 off any purchase over $150 and $15 off any purchase over $250. So visit the new VMD Medical Supplies section today to take advantage of these exclusive discounts!

Role of IMGs in Primary Care

The 2011 American Academy of Family Physicians (AAFP) Scientific Academy, which is an annual medical conference consisting of numerous Continuing Medical Education (CME) courses, offered a one-credit CME course on the International Medical Graduate (IMGs).

Learning Objectives:
1. Outline the steps necessary for IMGs to become eligible to practice medicine in the US, which may vary depending upon individuals medical education and training background. 2. Debate the issues and complexities of IMGs entry into the US healthcare workforce. 3. Discuss barriers to entry into the US physician workforce and construct methods to promote diversity in medicine through appropriate organizations or resources.
The addition of this new CME course reflects the increasing awareness the AAFP has placed on IMGs in the primary care setting. In fact, the AAFP published an article last year titled, "AMA-IMG Section Position Paper Discusses Role of IMGs in Primary Care", where it discussed the American Medical Association's (AMA) views of IMGs in Primary Care.

"IMGs are an indispensable part of a functional primary health care delivery system," say the paper's authors.
"The United States needs to make every effort to attract and retain qualified and skilled candidates for this challenging field of medicine."
Here is the full article from the AAFP website

'Excellent Resource' for Family Medicine Residencies
AMA-IMG Section Position Paper Discusses Role of IMGs in Primary Care
By Barbara Bein

Posted: 2/26/2010, 3:30 p.m. -- A recently released position paper from the AMA's International Medical Graduate, or IMG, Section Governing Council says IMGs are essential to the U.S. primary care health care delivery system.

According to the paper (45-page PDF; About PDFs), "International Medical Graduates in American Medicine: Contemporary Challenges and Opportunities," more IMGs train in primary care specialties and internal medicine subspecialties than do graduates of U.S. medical schools. Moreover, many go on to practice in medically underserved areas, especially remote, rural communities.

"IMGs are an indispensable part of a functional primary health care delivery system," say the paper's authors. "The United States needs to make every effort to attract and retain qualified and skilled candidates for this challenging field of medicine."

With that goal in mind, the paper's authors make a number of recommendations; among them, they call for Congress to increase the number of J-1 visa waiver slots, especially in states with the greatest projected shortages, and for governmental agencies to streamline the visa issuance process.

Role of IMGs in Health Care

According to Perry Pugno, M.D., M.P.H., director of the AAFP Division of Medical Education, the position paper is an excellent resource for family medicine residency programs because it gives a history of IMGs in the United States, including insight into the specialties to which they gravitate and the regions in which they are most likely to practice.

Initially developed as a discussion document in 2004, the position paper has been updated each subsequent year. The 2010 paper represents a "thorough revision," say the authors, reflecting current legislative efforts to achieve national health care reform and the recent expansion of U.S. medical schools.

Among facts and figures detailed in the position paper are the following:
• there are 243,457 IMG physicians in the United States, or 26 percent of the total number of physicians, of whom more than 80 percent provide direct patient care; • 58 percent of IMGs are in primary care, primarily in internal medicine, followed by general/family medicine; • almost 87 percent of IMGs are age 35 or older, which the report says represents a "graying" of the IMG population that may "presage their ultimate extinction" from the physician workforce -- with adverse public health consequences; • the top five countries of origin for IMGs are India, the Philippines, Mexico, Pakistan and the Dominican Republic; and • the top five states in which IMGs practice are New York, California, Florida, New Jersey and Texas.
According to the paper, IMGs have important roles to play in the U.S. health care delivery system by filling access gaps and ensuring the integrity of the so-called health care safety net, especially in poor and rural areas. IMG physicians cluster in counties with such characteristics as an average to below average socioeconomic status, designation as a health professional shortage area, or HPSA, and a physician-to-population ratio of less than 120:100,000.

By working in HPSAs, IMGs who hold J-1 visas can apply to waive the requirement to return to their home countries. This visa waiver route has become a "major source" of physicians in rural and other HPSAs in the United States, the paper says.

In fact, according to the paper, administrators of health care facilities in such shortage areas turn to the visa waiver system when they can't recruit U.S. medical graduates, or USMGs, for open positions.

When it comes to primary care overall, growth in the subspecialty physician pool far exceeds that seen in family medicine and other primary care specialties, the paper says. In fact, medical student interest in family medicine has declined to "near crisis proportions," as reflected in the declining resident match rates into family medicine programs.

The paper notes that the results of the 2007 resident match showed a decrease for the eighth consecutive year in the number of U.S. seniors from allopathic medical schools selecting primary care.

Pugno is well aware of that decline and what it portends. As he notes in the paper, "It is of concern that since 1988, family medicine has reduced the positions offered by 511, while during that same period, U.S. medical school seniors selecting family medicine declined by 1,047. Currently, three out of five first-year residents in family medicine are IMGs."

An International Perspective

AAFP member Raouf Seifeldin, M.D., of Troy, Mich., vice chair of the AMA-IMG Section Governing Council, contributed to the position paper. Seifeldin is a USIMG, which the paper defines as a physician who either was born in the United States or is a naturalized U.S. citizen and who obtained his or her medical education in a foreign medical school.

Seifeldin graduated from the Ain Shams University Faculty of Medicine in Cairo, Egypt, and completed his residency at the Doctors' Hospital of Michigan Family Medicine Residency in Pontiac, where he now practices in a medically underserved community. He told AAFP News Now that, "IMGs in America are part of the solution" to the shortage of primary care physicians.

Seifeldin, who is associate director of the Oakland Physicians Medical Center/Doctors' Hospital of Michigan Family Medicine Residency Program, said all of the 18 resident physicians in his program are IMGs, including two who are USIMGs.

Historically, Seifeldin said, graduates of the residency program have stayed in the area to practice. Some have gone to the rural Upper Peninsula and central areas of Michigan. Some have gone to southern states. A few have continued in a geriatric fellowship at a time when the country needs physicians with such knowledge to care for an aging population, he said.

According to the AMA's paper, in addition to IMGs' willingness to practice in remote, rural areas -- which outstrips that of either USIMGs or USMGs -- they possess a unique knowledge base and skills set that allows them to better understand cross-cultural issues among their patients.

"The diverse backgrounds of IMGs are especially valuable in caring for a multiethnic and increasingly diverse U.S. population," says the paper.

AUA College of Medicine
recognized by the Medical Board of California (continued)

AUA's listing can be viewed on the official website of the MBC here: http://www.mbc.ca.gov/applicant/schools_recognized.html#a

The official Letter of Recognition to AUA President Neal Simon, sent from the MBC,
Can be downloaded and viewed here.

The Medical Board of California recognition allows:
• AUA College of Medicine graduates to apply for medical licensure in California* • AUA College of Medicine graduates to enter residency training in California* • AUA College of Medicine to provide clinical training in California Teaching Hospitals*
AUA College of Medicine is proud of its medical education program and is appreciative of the opportunities that the Medical Board of California recognition will open to its students and graduates.

"I want to thank our distinguished faculty and administrators for their commitment to education and our students and graduates for all they have achieved. All of you have contributed to AUA College of Medicine being the youngest and one of the few international medical schools to have been recognized based on the recommendations of the Medical Board of California Site Visit Team" -- Neal Simon, President, AUA.

*Students must complete their Basic Sciences studies at the AUA Campus in Antigua or if transferring from another institution to AUA, that University must be recognized by the Medical Board of California in order to be eligible for clinical rotations, residency placements and medical licensure in the State of California. AUA students who matriculate in to the Basic Sciences studies at the Kasturba Medical College International Center (KMCIC) are not eligible.

A Special Announcement from AUC and DeVry Inc (continued)

A Special Announcement from AUC and DeVry Inc Since 1978, AUC has provided its students with high quality medical education, and now has more than 4,000 graduates who are licensed and practicing medicine throughout the world. The school is accredited by the Accreditation Commission on Colleges of Medicine (ACCM), and its students are eligible to sit for the USMLE, obtain U.S. Federal Financial Aid if qualified, become active members of the American Medical Student Association (AMSA) and, upon graduation, obtain residency and licensure throughout the United States. AUC is one of only three international medical schools whose students are eligible to receive federal student aid. AUC utilizes the same curriculum as U.S. medical schools, with two years of basic sciences taught at the St. Maarten campus, followed by two years of clinical sciences taught at affiliated hospitals in the U.S. and England. AUC graduates are eligible to practice medicine in all 50 states.

"Working with AUC management, DeVry has already developed an initial plan for additional investments in academic quality, which will also support future growth. Planned investments include more than $20 million for facility and other improvements," said Daniel Hamburger, DeVry's president and chief executive officer. "AUC's high quality curriculum, faculty and facilities provide us the perfect opportunity to further expand our doctoral program offerings in this high demand field. The combination of DeVry and AUC is strategically compelling and will deliver significant benefits to students and employees. In concert with our other medical school, Ross University School of Medicine, DeVry will continue to be the leader in international medical education and the only publicly-held education provider that operates medical schools."

There is a significant unmet demand in the U.S. for well-trained, licensed physicians. Demographic trends point to accelerating demand for doctors in the coming years as the aging baby boomers require greater healthcare services. Ninety percent of AUC's students are U.S. citizens.

AUC's culture is highly compatible with DeVry, characterized by a commitment to strong student outcomes, program quality and regulatory integrity.

"We welcome AUC's employees as the newest members of the DeVry family, and will work closely with them as we continue to deliver high quality educational programs," said Bill Hughson, president of DeVry's Healthcare Group. "We intend to invest significantly in AUC, its programs and its facilities, while leveraging organizational synergies and best practices from across our family of educational institutions. We are excited about the opportunities that AUC provides to the Healthcare Group and we look forward to working with AUC employees, clinical partners, the government of St. Maarten and the ACCM in the near future."

"We are very pleased to be joining the DeVry family," said Yife Tien, son of the founder of AUC. "DeVry is renowned for quality education and their commitment to their students. I know AUC will continue to thrive under their leadership as will the people of St. Maarten who will benefit from the vast resources and commitment to partnership that DeVry will bring to the country. This combination truly positions the institution for continued prosperity and growth for decades to come."

Terms of the Transaction

Upon closing, DeVry paid $235 million in cash in exchange for all assets of AUC. For the year ending December 31, 2011, AUC's revenues are expected to be approximately $50 million. DeVry expects AUC to be accretive to earnings per share in fiscal 2012 by about $0.05 per share and increasing thereafter.Mayer Brown served as DeVry Inc.'s legal counsel. DeVry did not utilize an investment bank for this transaction. Credit Suisse acted as financial advisor to AUC and McDermott Will & Emery served as AUC's legal counsel.

AUC will continue to operate as an independent institution, and will benefit from the sharing of best practices and systems as a part of DeVry's family of colleges and universities. The school will become part of DeVry's Healthcare Group, joining Ross University School of Medicine, Ross University School of Veterinary Medicine, Chamberlain College of Nursing and the Carrington Colleges Group.

About AUC

Since 1978 American University of the Caribbean School of Medicine (AUC) has provided students with quality medical education and has more than 4,000 graduates who are licensed and practicing medicine throughout the world. AUC is committed to providing a high-quality, internationally recognized program of medical education. AUC is accredited by the Accreditation Commission on Colleges of Medicine (ACCM). AUC students are eligible to sit for the USMLE, obtain U.S. Federal Financial Aid if qualified, become active members of the American Medical Student Association (AMSA) and, upon graduation, obtain residency and licensure throughout the United States. AUC's curriculum is the U.S. medical school model, with two years of medical sciences taught at the St. Maarten campus, followed by two years of clinical sciences taught at affiliated hospitals in the United States and England.

About DeVry Inc.

DeVry's purpose is to empower its students to achieve their educational and career goals. DeVry (NYSE: DV, member S&P 500 Index) is a global provider of educational services and the parent organization of Advanced Academics, American University of the Caribbean, Becker Professional Education, Carrington College, Carrington College California, Chamberlain College of Nursing, DeVry Brasil, DeVry University, and Ross University Schools of Medicine and Veterinary Medicine. These institutions offer a wide array of programs in business, healthcare and technology. DeVry's institutions serve students in secondary through postsecondary education and professionals in accounting and finance. For more information, please call 630.353.3800 or visit http://www.devryinc.com.

Certain statements contained in this release concerning DeVry's future performance, including those statements concerning DeVry's expectations or plans, may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as DeVry Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described more fully in Item 1A, "Risk Factors," in DeVry's most recent Annual Report on Form 10-K for the year ending June 30, 2010 and filed with the Securities and Exchange Commission on August 25, 2010.

Investor Contact:
Joan Bates
jbates@devry.com
(630) 353-3800

Media Contact:
Larry Larsen
llarsen@sardverb.com
(312) 497-0655