Afya Limited Stock Price, News & Analysis

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.

Afya Limited (Nasdaq: AFYA) announced on October 13, 2020, the acquisition of 100% of iClinic's share capital for R$182.7 million. The purchase included 61.5% in cash and 38.5% in stock, enhancing Afya's offerings to physicians in Brazil. iClinic is a leading SaaS technology company providing electronic medical records, a clinical management system, telemedicine services, and a physician marketplace. This acquisition aims to establish Afya as a comprehensive platform for medical professionals, strengthening their ability to manage clinics and improve patient care.

Afya Limited (Nasdaq: AFYA) has received authorization from Brazil's Secretary of Regulation and Supervision of Higher Education to operate an undergraduate medicine course in Santa Inês, Maranhão, as part of the Mais Médicos II program. This marks the first medical school associated with the Mais Médicos initiative for Afya and will contribute an additional 50 seats to its operational capacity. Afya is recognized as a leading medical education group in Brazil, focusing on establishing a physician-centric educational ecosystem.