(By Balachander) Washington Post Co. (NYSE:WPO) said it agreed to purchase a majority stake in Celtic Healthcare Inc., a provider of skilled home healthcare and hospice services in the northeastern and mid-Atlantic regions.
Financial terms of the deal were not disclosed.
The education and media company said its acquisition of Celtic Healthcare is part of its "ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon."
The company's Kaplan subsidiary provides educational services, both domestically and outside the United States, including programs to prepare students for careers in healthcare and many other fields.
Washington Post 's media operations include cable television systems, newspaper publishing (principally The Washington Post) and television broadcasting (through the ownership and operation of six television broadcast stations).
Edge Healthcare Partners, LLC is serving as the exclusive financial advisor to Celtic.
Washington Post had announced in July that it has divested its interest in Avenue100 Media Solutions to a management group.
WPO shares added 0.80 percent to trade at $365.94 on Monday. The stock has been trading in the 52-week range of $308.50 to $405.00.