Afya Limited Announces PEBMED’s Acquisition
Afya Limited, or Afya (Nasdaq: AFYA) today announced the
acquisition of 100% of the total share capital of PEBMED, through
its wholly-owned subsidiary Afya Participações S.A.
PEBMED offers content and clinical decision
applications aiming a better performance of the healthcare
professional, through its products:
- WhiteBook: a mobile and web
application software that helps doctors and medical students to
make faster and more accurate clinical decisions on a daily
practice. It provides medical calculators, images and updated
content, including prescriptions, conducts, clinical scores,
procedures, lab exams, and others, for more than 28 specialties.
WhiteBook’s revenue represents more than 95% of PEBMED’s total
revenue and currently has 165,000 monthly active users.
- Nursebook, a mobile application
software that helps nurses to make accurate clinical decisions.
This product also provides medical calculators, procedures and
updated content software designed to help nurses all over Brazil.
This product was launch on the third quarter of 2019 and currently
has 20,000 monthly active users.
- Portal PEBMED: a website that
offers free references, perspectives and updates on medical news
and scientific publications. The website has over 4,000,000
visitors per month and 900,000 returning visitors.
"With the integration of PEBMED into our
platform, Afya will continue to expand our offerings for the
medical professionals now focusing in the interaction with the
patient," said Virgílio Gibbon, Afya’s CEO. “With this acquisition,
Afya will strengthen its position in the medical field and expand
our digital platform.”
"We founded PEBMED because we saw hundreds of
doctors facing unprecedented circumstances and we wanted to help
then in these difficult situations," said Bruno Lagoeiro, CEO of
PEBMED. "Becoming part of the Afya platform will allow us to
accelerate software development, reach more doctors and students
across the country and fulfill our goal to help transform Brazilian
health through the decisions that nurses and physicians make every
The acquisition will enable Afya to enter into a
new business segment and will contribute to the development and
expansion of Afya Digital increasing our monthly active users and
bringing active physicians to our platform.
The net purchase price was R$132.9 million, with
the assumption of estimated net debt of R$7.1 million, of which:
(i) 86.8% was paid in cash, and (ii) 13.2% was paid in Afya’s
stock. The price multiple is equivalent to 4x PEBMED’s annual
Afya’s management team will host a conference
call with investors June 21, 2020, 11:00 am EDT.
Investors may listen to the conference call (ID: AFYA) by
dialing +1 (844) 204-8942 or +1 (412)-717-9627 for US Numbers and
(11) 3181-8565 for BR Numbers. A live and archived webcast of the
call will be available on the Investor Relations section of the
Company’s website at https://ir.afya.com.br/.
Afya is a leading medical education group in Brazil based on
number of medical school seats, delivering an end-to-end
physician-centric ecosystem that serves and empowers students to be
lifelong medical learners from the moment they join us as medical
students through their medical residency preparation, graduation
program, and continuing medical education activities.
Contact: Investor Relations: firstname.lastname@example.org