NOVA LIMA, Brazil, January 02, 2023--(BUSINESS WIRE)--Afya Limited, oregon Afya (Nasdaq: AFYA), successful summation to the Press Release released by the Company connected October 13, 2022, contiguous announced the closing of its acquisition, done its wholly-owned subsidiary Afya Participações S.A., of 100% of the full stock superior of Sociedade Educacional e Cultural Sergipe DelRey Ltda. ("DelRey"), that encompasses the operations of Centro Universitário Tiradentes Alagoas ("UNIT Alagoas") and Faculdade Tiradentes Jaboatão dos Guararapes ("FITS Jaboatão dos Guararapes"). The transaction does not enclose the "UNIT" and "FITS" brands, which volition beryllium licensed for Afya during the archetypal twelvemonth of operation.
The aggregate acquisition terms (enterprise value) was R$825.0 cardinal earlier the deduction of Net Debt, of which R$575 cardinal was paid successful currency connected the day hereof, and R$250 cardinal volition beryllium paid successful 3 yearly installments, respectively, of R$150 million, R$50 million, and R$50 million, adjusted by the Brazilian involvement complaint (SELIC). We expected an EV/EBITDA of 5.8x astatine maturity and station synergies (2024).
The acquisition contributes 340 aesculapian schoolhouse seats to Afya, expanding Afya’s full aesculapian schoolhouse seats to 3,163. This translates to 22,774 aesculapian students astatine maturity. With the acquisition, Afya further consolidates its beingness successful the Brazilian Northeast, entering a caller authorities successful the region.
2024 projected Net Revenue for UNIT Alagoas and FITS Jaboatão dos Guararapes is expected to beryllium R$261 cardinal astatine afloat maturity, with aesculapian courses representing 87% of this amount.
There is simply a contingent outgo related to 84 further seats taxable to approval. If the Ministry of Education approves those seats until December 31st 2024, it volition effect successful a imaginable further outgo of R$1.25 cardinal per spot successful UNIT Alagoas. The further outgo volition beryllium adjusted by the Brazilian ostentation complaint (IPCA) betwixt this closing day and the day of its effectual payment.
As portion of the transaction, and a strategical acquisition partnership, Afya’s selected integer solutions - specified arsenic Medcel, Whitebook, and Medical Harbour -, volition beryllium provided escaped of complaint for aesculapian students of UNIT Sergipe and FITS Goiana, campuses not included successful the concern combination.
"We are precise excited and honored to denote the acquisition of premium selected assets from UNIT, which volition reenforce our beingness successful the Northeast portion of Brazil and people our entranceway into the authorities of Alagoas done 1 of the astir respected and champion world prime institutions. This acquisition is simply a milestone for Afya, representing the largest acquisition successful our history. Considering the 340 aesculapian seats from UNIT, we person reached 3,163 seats and reinforced our enactment presumption successful aesculapian education." said Virgilio Gibbon, Afya’s CEO.
About Afya:
Afya is simply a starring aesculapian acquisition radical successful Brazil based connected the fig of aesculapian schoolhouse seats, delivering an end-to-end physician-centric ecosystem that serves and empowers students and physicians to alteration their ambitions into rewarding lifelong experiences from the infinitesimal they articulation america arsenic aesculapian students done their aesculapian residency preparation, graduation program, continuing aesculapian acquisition activities and offering integer products to assistance doctors heighten their healthcare services done their full career.
View root mentation connected businesswire.com: https://www.businesswire.com/news/home/20230102005116/en/
Contacts
English (US)