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Arsi Care Group history
Arsi Care Group company history timeline
What eventually evolved into Childtime Learning Centers was founded in Illinois in 1967.
The business suffered losses of about $3 million, and enrollment sagged—the centers, which numbered 115 in 1990, operated at about 60 percent of capacity at best, and 19 of the total were only half full.
By 1993 Childtime posted revenues of $44 million and a profit of $1 million.
To realize its goal of adding about 20 new centers a year, Childtime continued to expand through strategic acquisitions as well, and in 1994 the company bought Little Learners, a child-care provider in Syracuse, New York.
In 1998 Children's Discovery Center was bought by Knowledge Universe, an investment company led by infamous junk bond dealer Michael Milken, Milken's brother Lowell, and Oracle Systems Corporation Chairman Lawrence Ellison.
Net income also increased, from $4.35 million in 1998 to $5.1 million.
In 2002, the company announced plans to acquire Tutor Time Learning Cen-ters Inc., a private Florida-based firm with 235 centers in 25 states.
"Learning Care Group Franchise Convention Celebrates Success, Growth Opportunities," Market Wire, April 22, 2005.
As part of its strategy, the company looked to strengthen operations at its franchise units and by fiscal 2005, the average United States Tutor Time franchise location was generating revenue of more than $1 million.
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Arsi Care Group may also be known as or be related to ARSI Care Group and Arsi Care Group.