{"id":52456,"date":"2023-01-02T23:02:29","date_gmt":"2023-01-02T22:02:29","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/afya-limited-announces-closing-of-the-acquisition-of-unit-alagoas-and-fits-jaboatao-dos-guararapes\/"},"modified":"2023-01-02T23:02:29","modified_gmt":"2023-01-02T22:02:29","slug":"afya-limited-announces-closing-of-the-acquisition-of-unit-alagoas-and-fits-jaboatao-dos-guararapes","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/afya-limited-announces-closing-of-the-acquisition-of-unit-alagoas-and-fits-jaboatao-dos-guararapes\/","title":{"rendered":"Afya Limited Announces Closing of the Acquisition of UNIT Alagoas and FITS Jaboat\u00e3o dos Guararapes"},"content":{"rendered":"
\n

NOVA LIMA, Brazil–(BUSINESS WIRE)–Afya Limited, or Afya (Nasdaq: AFYA), in addition to the Press Release released by the Company on October 13, 2022, today announced the closing of its acquisition, through its wholly-owned subsidiary Afya Participa\u00e7\u00f5es S.A., of 100% of the total share capital of Sociedade Educacional e Cultural Sergipe DelRey Ltda. (\u201cDelRey\u201d), that encompasses the operations of Centro Universit\u00e1rio Tiradentes Alagoas (\u201cUNIT Alagoas\u201d) and Faculdade Tiradentes Jaboat\u00e3o dos Guararapes (\u201cFITS Jaboat\u00e3o dos Guararapes\u201d). The transaction does not enclose the \u201cUNIT\u201d and \u201cFITS\u201d brands, which will be licensed for Afya during the first year of operation.\n<\/p>\n

<\/a><\/p>\n

\nThe aggregate purchase price (enterprise value) was R$825.0 million before the deduction of Net Debt, of which R$575 million was paid in cash on the date hereof, and R$250 million will be paid in three annual installments, respectively, of R$150 million, R$50 million, and R$50 million, adjusted by the Brazilian interest rate (SELIC). We expected an EV\/EBITDA of 5.8x at maturity and post synergies (2024).\n<\/p>\n

\nThe acquisition contributes 340 medical school seats to Afya, increasing Afya\u2019s total medical school seats to 3,163. This translates to 22,774 medical students at maturity. With the acquisition, Afya further consolidates its presence in the Brazilian Northeast, entering a new state in the region.\n<\/p>\n

\n2024 projected Net Revenue for UNIT Alagoas and FITS Jaboat\u00e3o dos Guararapes is expected to be R$261 million at full maturity, with medical courses representing 87% of this amount.\n<\/p>\n

\nThere is a contingent payment related to 84 additional seats subject to approval. If the Ministry of Education approves those seats until December 31st<\/sup> 2024, it will result in a potential additional payment of R$1.25 million per seat in UNIT Alagoas. The additional payment will be adjusted by the Brazilian inflation rate (IPCA) between this closing date and the date of its effective payment.\n<\/p>\n

\nAs part of the transaction, and a strategic educational partnership, Afya\u2019s selected digital solutions – such as Medcel, Whitebook, and Medical Harbour -, will be provided free of charge for medical students of UNIT Sergipe and FITS Goiana, campuses not included in the business combination.\n<\/p>\n

\n\u201cWe are very excited and honored to announce the acquisition of premium selected assets from UNIT, which will reinforce our presence in the Northeast region of Brazil and mark our entrance into the state of Alagoas through one of the most respected and best academic quality institutions. This acquisition is a milestone for Afya, representing the largest acquisition in our history. Considering the 340 medical seats from UNIT, we have reached 3,163 seats and reinforced our leadership position in medical education.\u201d said Virgilio Gibbon, Afya\u2019s CEO.\n<\/p>\n

\nAbout Afya:<\/b>\n<\/p>\n

\nAfya 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.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nInvestor Relations Contact:
\n
Afya Limited
\n
ir@afya.com.br<\/a><\/p>\n

Media Contact:
\n
C\u00edntia Moraes Marin
\n
cintia.marin@afya.com.br<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NOVA LIMA, Brazil–(BUSINESS WIRE)–Afya Limited, or Afya (Nasdaq: AFYA), in addition to the Press Release released by the Company on October 13, 2022, today announced the closing of its acquisition, through its wholly-owned subsidiary Afya Participa\u00e7\u00f5es S.A., of 100% of the total share capital of Sociedade Educacional e Cultural Sergipe DelRey Ltda. (\u201cDelRey\u201d), that encompasses … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-52456","6":"format-standard","7":"category-industry"},"yoast_head":"\nAfya Limited Announces Closing of the Acquisition of UNIT Alagoas and FITS Jaboat\u00e3o dos Guararapes - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/afya-limited-announces-closing-of-the-acquisition-of-unit-alagoas-and-fits-jaboatao-dos-guararapes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afya Limited Announces Closing of the Acquisition of UNIT Alagoas and FITS Jaboat\u00e3o dos Guararapes - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"NOVA LIMA, Brazil–(BUSINESS WIRE)–Afya Limited, or Afya (Nasdaq: AFYA), in addition to the Press Release released by the Company on October 13, 2022, today announced the closing of its acquisition, through its wholly-owned subsidiary Afya Participa\u00e7\u00f5es S.A., of 100% of the total share capital of Sociedade Educacional e Cultural Sergipe DelRey Ltda. 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