Afya Limited Stock Price, News & Analysis

Afya Limited (Nasdaq: AFYA) announced that its clinical decision software WhiteBook was ranked among the top 10 apps in Brazil by consumer spending for the fifth consecutive year. The ranking, conducted by App Annie, featured WhiteBook alongside major apps like Tinder and YouTube. WhiteBook aids medical professionals in making quick and accurate clinical decisions, boasting over 161,000 monthly active users and 106,000 subscribers. Additionally, Afya's share buyback program continues, and the company recently received authorization to operate a new undergraduate medicine course.

Afya Limited (Nasdaq: AFYA) has announced a share buyback program, enabling the repurchase of up to 1,015,844 Class A common shares. This program will commence on December 24, 2020, and continue until the earlier of completion or December 31, 2021, depending on market conditions. The buyback aims to support the company's Stock Option Program for executives and will utilize existing funds. The Board of Directors retains the authority to adjust or suspend the program as necessary.

Afya Limited (Nasdaq: AFYA) announced strong financial results for 3Q20, reporting adjusted net revenue of R$313.3 million, a 51.6% year-over-year increase, despite COVID-19 impacts. Adjusted EBITDA reached R$149.3 million, up 63.3%, with a margin expansion of 340 bps to 47.6%. The company's total medical student enrollment grew by 49.8%, and they ended the quarter with R$1.1 billion in cash. Afya completed multiple strategic acquisitions, enhancing its digital health services, and reaffirmed its guidance for 2H20, expecting net revenue between R$600 million and R$640 million.

Afya Limited (Nasdaq: AFYA) will announce its third quarter 2020 financial results on December 3, 2020, after the market closes. A conference call will be held on December 4, 2020, at 10:00 AM EDT for investors to discuss the results. Investors can access the call by dialing +1 (877) 591-8865 and using the ID: 3385357. The earnings report will provide insights into Afya's performance as a leading Brazilian medical education group, supporting students and physicians throughout their careers.

Afya Limited has announced its Annual General Meeting (AGM) scheduled for December 9, 2020, at 10:30 a.m. Brasilia time. The meeting will address the approval of the financial statements and auditor’s report for the fiscal year ended December 31, 2019, and the re-election of five directors including João Paulo Seibel de Faria and Vanessa Claro Lopes. Shareholders holding Class A and Class B common shares as of November 6, 2020, are entitled to vote. The Board recommends a 'FOR' vote on all resolutions. Detailed information is available on the Company’s website.

Afya Limited (Nasdaq: AFYA) has successfully closed its acquisition of 100% of FCMPB for an enterprise value of R$380 million. The payment structure consists of 50% in cash at closure and the remaining 50% in four cash installments until 2024, adjusted by the CDI rate. FCMPB, a post-secondary institution authorized to offer medical courses in Paraíba, represents 99% of its 2019 net revenue from the medical program. Projected net revenue for FCMPB in 2024 is R$107 million, with an estimated post-synergy EV/EBITDA of 5.9x, adding 157 medical school seats to Afya’s portfolio.

Afya Limited (Nasdaq: AFYA) announced its acquisition of 100% of MedPhone for R$6.4 million in cash. MedPhone is a clinical decision-making app in Brazil with over 175,000 registered users and a monthly active user base of 58,000, boasting a high Net Promoter Score of 75 and an app rating of 4.9 out of 5 from over 9,100 reviews. The integration of MedPhone’s services with Afya’s PEBMED platform is expected to create synergies and enhance product offerings in the healthcare market.

Afya Limited (Nasdaq: AFYA) has successfully completed the acquisition of FESAR for R$260.8 million, fully paid in cash. FESAR is an educational institution authorized to offer medical courses in Pará, with medical education comprising 70% of its 2019 net revenue. FESAR's projected net revenue for 2024 is R$88.6 million, with medical courses expected to account for 94% of this figure. The acquisition adds 120 medical school seats to Afya, which aims to expand its educational offerings and enhance revenue opportunities in the medical education sector.

Afya Limited (Nasdaq: AFYA) announced the acquisition of 100% of Sociedade Padrão de Educação Superior Ltda (UNIFIPMoc and Fip Guanambi) for R$360 million, payable in cash at closing. This strategic move adds 160 medical school seats, increasing Afya’s total to 2,303. UNIFIPMoc is expected to generate R$109 million in net revenue for 2020, primarily from medical courses, and projected revenue for 2024 is R$121 million. The acquisition enhances Afya's capacity and potential market share in medical education across Minas Gerais and Bahia.