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) announced the authorization of two new medical schools under Brazil's Mais Médicos II program, located in Bragança (Pará) and Manacapuru (Amazonas). This expansion adds 100 seats to Afya's operational capacity, increasing the total number of seats to 2,681 out of an approved 2,731. This marks a significant step for Afya in strengthening its position as a leading medical education provider in Brazil.
Afya Limited (NASDAQ: AFYA) has received a binding offer from the Esteves family to sell 6 million Class B common shares at a price of US$26.90 each to Bertelsmann SE & Co. KGaA. This potential transaction would result in Bertelsmann and the Esteves family owning 57.5% and 33.1% voting interest in Afya, respectively. The deal is contingent on due diligence and board approval by Bertelsmann. If completed, it will allow Bertelsmann to consolidate its investment in Afya under International Financial Reporting Standards, indicating a strategic long-term commitment to the company.
Afya Limited (Nasdaq: AFYA) announced the successful acquisition of 100% of Além da Medicina through its subsidiary, Afya Participações S.A. This medical content platform offers valuable resources for physicians and medical students, contributing to Afya's digital ecosystem. With over 4,000 subscribers and a projected gross revenue of R$12.7 million for 2022, Além da Medicina enhances Afya's educational capabilities. The acquisition cost was R$16 million, fully paid in cash, with potential earn-outs of up to R$19.2 million based on performance metrics for 2023 and 2024.
Afya Limited (NASDAQ: AFYA) has announced its acquisition of 100% of Além da Medicina, an online medical content platform, through its subsidiary Afya Participações S.A. This acquisition, valued at R$16.0 million, is subject to customary conditions and involves a potential earn-out of up to R$19.2 million based on revenue targets for 2023 and 2024. Além da Medicina, which projects R$12.7 million in gross revenue for 2022, enhances Afya's digital ecosystem by providing educational tools and resources to medical professionals.
Afya Limited (NASDAQ: AFYA) announces the authorization of two new medical schools in Brazil under the Mais Médicos II program. The schools, located in Abaetetuba (Pará) and Itacoatiara (Amazonas), will each contribute 50 seats, increasing Afya's total operating seats to 2,581 out of 2,731 approved seats. This expansion marks a significant milestone for Afya, cementing its position as a leading medical education group in Brazil.
Afya Limited (NASDAQ: AFYA) has announced a new share repurchase program after successfully completing its previous one, which bought back 1,383,108 Class A common shares. The new program allows for the repurchase of up to 1,874,457 shares, equating to 4% of its free float, from January 27, 2022, to December 31, 2022. The shares will be purchased in the open market or via private transactions, depending on market conditions. These repurchases aim to support stock options, future business combinations, and general corporate purposes.
Afya Limited (NASDAQ: AFYA) announced that Júlio de Angeli, VP of Innovation & Digital Services, will leave the company at the end of January 2022. He will assist in transitioning his duties. Lélio de Souza has been appointed as the new VP of Digital Services Officer, effective immediately. He has a robust digital background, previously serving as CEO of Intelie and holding managerial positions at TOTVS and Accenture. Afya is a major medical education provider in Brazil, supporting medical students and professionals through various educational services and digital products.
Afya Limited (NASDAQ: AFYA) reported strong financial results for Q3 2021, with Adjusted Net Revenue rising 47.9% year-on-year to R$463.3 million and Adjusted EBITDA increasing 28.2% to R$191.4 million. The nine-month results showed a 45.1% growth in Adjusted Net Revenue to R$1,247.3 billion. Cash flow from operations surged 71.1% to R$528.7 million, achieving a cash conversion of 113.5%.
Afya's ecosystem now includes 247,000 physicians and medical students, indicating significant growth in their digital services.
Afya Limited (Nasdaq: AFYA) has received authorization from Brazil's Ministry of Education to operate a new medical school in Garanhuns, Pernambuco. This approval allows ITPAC, a subsidiary, to expand operations and provide 120 medical seats, translating to a purchase price of R$108 million, with half payable at closing and the remainder in two annual installments. This move aligns with Afya's goal of being a leading medical education provider in Brazil.
Afya Limited (NASDAQ: AFYA) is set to report its third quarter 2021 financial results for the period ending September 30, 2021, after market close on November 22, 2021. Following this, a conference call and webcast will be hosted at 5:00 PM EDT on the same day, allowing investors to gain insights into the company's performance. Investors can access the webcast live or in archive form on the company's Investor Relations website.