SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2020
Commission File Number: 001-38992
(Exact name of registrant as specified in its charter)
Alameda Oscar Niemeyer, No. 119, Salas 502, 504, 1,501 and 1,503
Vila da Serra, Nova Lima, Minas Gerais
+55 (31) 3515 7550
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
|Form 20-F||Form 40-F|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
TABLE OF CONTENTS
|99.1||Afya Limited Announces Closing of the Acquisition of FCMPB - Faculdade Ciências Médicas da Paraíba|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|By:||/s/ Virgilio Deloy Capobianco Gibbon|
|Name:||Virgilio Deloy Capobianco Gibbon|
|Title:||Chief Executive Officer|
Date: November 9, 2020
FOR IMMEDIATE RELEASE:
Afya Limited Announces Closing of the Acquisition of FCMPB - Faculdade Ciências Médicas da Paraíba
November 9, 2020 – Afya Limited, or Afya (Nasdaq: AFYA) in addition to the Press Release released by the Company on August 20,2020, today announced the closing of its acquisition, through its wholly-owned subsidiary Afya Participações S.A., of 100% of the total share capital of FCMPB.
The enterprise value was R$380 million and the net debt was estimated in R$ 87 thousand. The net purchase price was paid (i) 50% in cash on the transaction closing date, and (ii) 50% is payable in cash in four equal installments through 2024, adjusted by the CDI rate.
FCMPB is a post-secondary education institution with government authorization to offer on-campus, undergraduate courses in medicine in the State of Paraíba and medical course represents 99% of its 2019’s Net Revenue. The projected Net Revenue for FCMPB in 2024, when the institution will reach maturation, is R$ 107.0 million representing an estimated post synergies EV/EBITDA of 5.9x all derived from its medical school.
The acquisition will contribute 157 medical school seats to Afya. FCMPB has 850 medical students and a potential of 1,130 medical students at full maturity in 2024.
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 offering digital products to help doctors enhance their healthcare services through their whole career.
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