Afya Limited reports financial, regulatory and capital-allocation developments for a Brazil-based medical education group and medical practice solutions provider. The company serves medical students and physicians through an end-to-end ecosystem that includes undergraduate medical education, residency preparation, continuing medical education, graduate programs and practice-management solutions.
Recurring company developments include IFRS financial results in Brazilian reais, medical-seat authorizations from Brazil’s Ministry of Education, campus-level capacity changes, credit-rating actions, dividends, share repurchases and board changes. Afya also reports activity in continuing education, B2B revenue, clinical management tools and the broader physician base that uses its education and medical practice platforms.
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.
Afya Limited (Nasdaq: AFYA) reported robust financial results for Q2 and H1 2020, driven by a 53.6% YoY increase in Q2 net revenue to R$274.2 million and a 69.2% YoY rise in H1 revenue to R$546.5 million. Adjusted EBITDA surged 76.6% YoY in Q2 to R$118.2 million with a margin of 43.1%. The company achieved an adjusted net income of R$82.6 million in Q2, up 163.1% YoY. Afya’s strong cash position stands at R$1.1 billion, and a series of acquisitions, including PEBMED, are set to enhance its digital health services segment.
Afya Limited (Nasdaq: AFYA) announced the acquisition of FESAR for R$260 million, fully paid in cash. FESAR is a Brazilian post-secondary institution authorized to offer undergraduate medical courses, with medical education comprising 70% of its 2019 revenues. Projected net revenue for FESAR in 2024 is R$88.6 million, with medical courses expected to represent 94% of this total. The deal will add 120 medical school seats to Afya, increasing its total to 2,143. The Q2 2020 earnings call is scheduled for August 28, 2020, to discuss this acquisition further.
Afya Limited (Nasdaq: AFYA) announced its acquisition of Faculdade Ciências Médicas da Paraíba (FCMPB) through its subsidiary, Afya Participações S.A. The purchase price is R$380 million, with 50% paid at closing and the remainder in installments through 2024. FCMPB, which contributes 99% of its revenue from medical courses, is projected to generate R$107 million in revenue by 2024. This acquisition adds 157 medical school seats to Afya, increasing their total to 2,023. The deal is subject to customary conditions, including antitrust approval.
Afya Limited (Nasdaq: AFYA) will report its Q2 2020 financial results on August 27, 2020, after market close. A conference call will be held the following day at 11:00 AM EDT, providing investors with insights into the company's financial performance.
Afya is a prominent medical education group in Brazil, focusing on a comprehensive ecosystem for medical students and professionals.