Vitru announces partnership with Smart Fit, the largest network of fitness clubs in Latin America
Florianópolis, Brazil, January 27, 2021 – Vitru Limited, or Vitru (Nasdaq: VTRU), announced today a partnership with Smart Fit.
Vitru is a leading distance learning player in the postsecondary education market in Brazil, with operations in all states (583 cities) through its brand Uniasselvi with 672 hubs that together have 297.5 thousands students enrolled , has entered into a partnership with Smart Fit, the largest network of fitness clubs in Latin America with 865 clubs (511 in Brazil and 354 in other Latin American countries) and 2.8 million members .
Through this partnership, Uniasselvi will become the postsecondary institution responsible for certifying the Fitness continuing education course that Smart Fit offers to its employees.
In addition, Uniasselvi's Physical Education undergraduate courses - in hybrid digital mode and intended for the general public - are now offered in partnership with Smart Fit within preset units.
These courses will provide enrolled students with access to all Smart Fit clubs throughout the course, where students will undertake practical activities and, once every quarter, take part in large learning sessions with the whole class. The classes will be supervised by our existing tutors, who are local physical education professionals.
Another benefit of this partnership is that participating students are guaranteed an internship at a club in the Smart Fit network. These internships are currently mandatory for all students wishing to complete an undergraduate degree in physical education at Uniasselvi. We believe that the internship prepares students for the job market and expands their options, for example by giving them the opportunity of being hired on a permanent basis by Smart Fit if they perform particularly well in their studies. Smart Fit is currently one of the largest employers in the fitness industry in Latin America.
There were approximately 377 thousand students studying for undergraduate degrees in physical education across Brazil, as of 2019, according to the 2019 Census released by the Brazilian Ministry of Education in October 2020. Of these, 44% are already enrolled in distance learning physical education courses, which may overtake the number of students enrolled in on-campus courses by 2022.
In September 2020, students enrolled in the physical education degree amounted to roughly 21,000 and corresponded to 8.5% of the postsecondary distance learning students base of Uniasselvi.
In the first phase of this partnership, the courses will be offered in 15 hubs in the states of São Paulo, Rio de Janeiro, Espírito Santo, Minas Gerais, Goiás e Paraná.
1 As of September 30th, 2020.
2 As of September 30th, 2020.
Vitru is the leading pure distance learning education group in the postsecondary distance learning market in Brazil. Through its invested companies, Vitru provides a complete pedagogical ecosystem focused on hybrid distance learning experience for undergraduates and continuing education students.
Vitru’s mission is to democratize access to education in Brazil through a digital ecosystem and empower every student to create their own successful story.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Vitru’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Vitru’s common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Vitru’s control. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Vitru does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.
Contact: Maria Carolina F. Gonçalves, IRO e-mail: firstname.lastname@example.org website: https://investors.vitru.com.br/
Source: Vitru Limited