Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. It does not store any personal data.Most stock quote data provided by BATS. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. Steiner Leisure also owns and operates five post secondary schools (comprised of a total of 18 campuses) located in Miami, Orlando, Pompano Beach and Sarasota, Florida Baltimore, Maryland Charlottesville, Virginia York, Pennsylvania Salt Lake City and Lindon, Utah Las Vegas, Nevada Tempe and Phoenix, Arizona Westminster and Aurora, Colorado Groton, Newington and Westport, Connecticut and Dallas, Texas. The company is also offering its own line of products under the brand names of Elemis, Bliss and Remède, which are used and sold in on the ships and/or land-based spas and are also distributed worldwide to hotels, salons, health clubs, department stores and destination spas. The Company’s operations include shipboard and land-based spas and salons, including 155 cruise ships and at 68 land-based spas. Steiner Leisure Limited is a worldwide provider of spa services. We look forward to introducing even more graduates, with increasingly diverse skill sets, into the growing massage therapy and spa industries.”Ĭlosing of the transaction, which is anticipated to take place in 2011, is subject to conditions similar to those in other transactions of this type including, among others, the receipt of regulatory approval from the Department of Education (the Cortiva schools are eligible to receive Title IV student loan funding). The integration of Cortiva’s massage therapy offerings into our existing curriculum, as well as the availability of a variety of new campus locations in several regions of the United States new to us, will further assist the growth of our schools division. Leonard Fluxman, president and CEO of Steiner, said, “The acquisition of Cortiva Institute, a well-known participant in the massage therapy education field and one of our longtime competitors, would considerably expand and fortify the presence of our schools division in the post-secondary massage therapy school market. Prior to closing, Steiner said it will determine the extent to which the purchase price will be paid from existing cash and/or through borrowings under the company’s credit facility. The transaction is expected to be accretive to earnings post integration and neutral to slightly accretive to earnings in 2012. Post-closing, Steiner, through its schools division, will own and operate a total of 30 campuses in 14 states with an anticipated total population of approximately 5,200 students. Cortiva operates seven post-secondary massage therapy schools with a total of 12 campuses located in Arizona, Florida, Illinois, Massachusetts, New Jersey, Pennsylvania and Washington, which had revenues in 2010 of approximately $24.6 million. Steiner Leisure Limited has entered into an agreement for the acquisition of the assets of Cortiva Group for $33.0 million in cash.
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