Touro College completed the sale of its separately accredited online division on Wednesday, for the previously undisclosed price of $190-million.

The sum is about five times the value of Touro’s endowment. The college plans to put most of the money into its endowment but will use some for the medical school it recently opened in New York City and some toward a medical school it is planning in New Jersey.

The deal for the online division, known as Touro International University, was first announced in July and was widely watched in the education industry because it marked the first time that a nonprofit college had sold such a division to a for-profit buyer.

Touro International was acquired by Summit Partners, a private-equity firm with offices in Boston and Palo Alto, Calif. Touro International’s existing management team will continue to run the 7,500-student operation. —Goldie Blumenstyk