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SDI Productions/E+ by way of Getty Photographs
Afya (NASDAQ:AFYA) mentioned Thursday it can purchase 100% of the entire share capital of Sociedade Educacional e Cultural Sergipe DelRey at an enterprise worth of R$825M.
The acquisition, which AFYA mentioned is its largest acquisition ever, contains operations of Centro Universitário Tiradentes Alagoas (UNIT Alagoas) and Faculdade Tiradentes Jaboatão dos Guararapes (FITS Jaboatão dos Guararapes).
The deal doesn’t embrace the UNIT and FITS manufacturers, which will probably be licensed for AFYA in the course of the first yr of operation.
AFYA can pay R$575M in money when the deal closes and R$250M in three annual instalments of R$150M, R$50M, and R$50M.
AFYA expects EV/EBITDA of 5.8x at maturity and submit synergies (2024).
The deal will add 340 medical faculty seats to AFYA, rising its whole medical faculty seats to ~3.1K.
2024 projected income for UNIT Alagoas and FITS Jaboatão dos Guararapes is predicted to be R$261M at full maturity, of which medical programs will account for 87%.
The deal features a contingent cost associated to 84 further seats. If the Ministry of Schooling approves these seats until Dec. 31, 2024, it can end in further cost of R$1.25M per seat in UNIT Alagoas.
Sure digital options of AFYA, comparable to Medcel, Whitebook and Medical Harbour, will probably be freed from cost for medical college students at UNIT Sergipe and FITS Goiana – campuses not included within the deal.
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