Afya Limited Announces Medicinae’s Acquisition
March 25 2021 - 5:06PM
Afya Limited, or Afya (Nasdaq: AFYA) today announced the
acquisition of 100% of the total share capital of Medicinae, a
leading Brazilian healthcare technology company that specializes in
healthcare payments and financial services, through its
wholly-owned subsidiary Afya Participações S.A.
The acquisition will expand Afya’s digital
health services, as it offers a unique financial platform that
allows healthcare professionals all over Brazil to manage
receivables in an efficient and scalable way using FIDC
(Receivables Investment Fund). Medicinae relieves a number of
challenges in the healthcare payments industry, as reduces long
payment cycles for professionals and consolidates financial
information, improving the consumer financial experience.
“This acquisition will give us advantages to
enhance our digital services offerings, as it solves healthcare
professionals financial challenges. Combining Medicinae solution
with Afya’s scale, we will be able to grow it faster and continue
to offer the best suite of services for physicians in Brazil,” said
Virgílio Gibbon, Afya’s CEO.
Medicinae has more than 1,420 registered users,
R$ 76.0 million in annualized transactions and has gown 11x revenue
since 2018.
The aggregate purchase price is R$ 5.6 million (Enterprise
Value) of which 100% paid in cash as the date hereof.
About Afya
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 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 their daily practices
with digital products.
Contact: Investor Relations: ir@afya.com.br
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