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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 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.
Afya Limited (NASDAQ: AFYA) announced a new share repurchase program allowing the purchase of up to 1,383,108 Class A common shares starting October 28, 2021, until December 31, 2022. This follows a previous program where 1,015,844 shares were repurchased. The initiative aims to utilize existing funds, and repurchases will be executed based on market conditions. Afya also appointed BofA Securities as the purchasing agent, adhering to SEC Rule 10b-18 to ensure compliance.
Afya Limited (NASDAQ: AFYA) has acquired 100% of RX PRO, a service facilitating connections between physicians and the pharmaceutical industry. RX PRO's innovative platform has reached over 45,000 physicians and is currently utilized by more than 12 pharmaceutical companies, forecasting a gross revenue of R$8.9 million for 2021. The acquisition cost R$35.4 million, with 85% paid in cash and the rest in Afya shares, plus an earn-out potential of R$21 million based on future revenue targets.
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Afya Limited (Nasdaq: AFYA) reported robust financial results for Q2 and H1 2021, with adjusted net revenue of R$381.5 million, up 39.1% YoY, and R$784.0 million for H1, rising 43.5% YoY. Adjusted EBITDA also increased to R$160.7 million (42.1% margin) for Q2 and R$368.3 million (47.0% margin) for H1. However, adjusted net income fell 27.3% to R$65.1 million. Cash flow from operations surged 70.0% to R$343.2 million, aided by a strong cash position of R$1.4 billion. Afya continues its digital strategy with new acquisitions, targeting sustainable growth and increased market penetration.
Afya Limited (Nasdaq: AFYA) has announced it will report its second quarter 2021 financial results for the period ended June 30, 2021, after market close on August 26, 2021. This announcement rectifies a previous press release dated July 19, 2021. A conference call and webcast will be held on the same day at 5:00 PM EDT. The company is recognized as a leading medical education group in Brazil, offering a comprehensive ecosystem to support medical students through various stages of their training.