BUFFALO, N.Y. — 2 On Your Side has confirmed that Trocaire College is terminating its deal to purchase Medaille University.
"Efforts towards completing an asset purchase between Trocaire College and Medaille University have been terminated," according to a statement from Trocaire College's public relations firm.
Trocaire College President Dr. Bassam Deeb said, "This is not the outcome we strived for as significant human and financial resources have been invested by both institutions in the attempt to consummate the proposed transaction."
2 On Your Side reached out to Medaille University Vice President for Institutional Effectiveness, Research and Grants, Mary Todd for comment. She has not responded.
“This is on top of the emotional effort expended by many board members, senior leadership and faculty and staff at both institutions who worked so diligently on this matter over the last several months," Trocaire's Deeb said.
The statement pointed out that these are extremely challenging times for higher education because of shrinking demographics, especially in Western New York and fewer eligible students opting to enroll in college.