Afya Limited, or Afya (Nasdaq: AFYA) has executed the purchase agreement for the acquisition of 100% of the total share capital of Além da Medicina, through its wholly-owned subsidiary Afya Participações S.A. The consummation is subject to certain customary precedent conditions.
Além da Medicina is a medical content online platform for physicians and medical students that provides educational tools besides technical medical content that can assist them throughout their careers. Its robust content includes mentoring for residency, soft skills, finance, accounting, and investment basics for physicians.
Além da Medicina had more than 4.000 subscribers in 2021, with a general NPS of 77 and almost 100.000 followers on Instagram. The company expects R$12.7 million of gross revenue for 2022.
This business combination incorporates new capabilities to the content & technology for the medical education pillar and further strengthens Afya's digital ecosystem.
The aggregate purchase price (enterprise value) is R$16.0 million and will be paid to sellers in cash. An earn-out of up to R$ 19.2 million can be paid related to revenue goals established for 2023 and 2024.
About Afya
Afya is a leading medical education group in Brazil based on the number of medical school seats, delivering an end-to-end physician-centric ecosystem that serves and empowers students and physicians to transform their ambitions into rewarding lifelong experiences from the moment they join us as medical students through their medical residency preparation, graduation program, continuing medical education activities and offering digital products to help doctors enhance their healthcare services through their whole career.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220224006088/en/
Contacts
Investor Relations Contact:
Afya Limited
ir@afya.com.br
Media Contact:
Cíntia Moraes Marin
cintia.marin@afya.com.br
