Afya Ltd 6-K, filed Nov 4, 2020
Afya Ltd (AFYA)
About this 6-K
Afya Ltd filed this 6-K on November 4, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
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
Afya Limited
(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
Brazil
+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 |
X |
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):
| Yes | No |
X |
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):
| Yes | No |
X |
TABLE OF CONTENTS
| EXHIBIT | |
| 99.1 |
SIGNATURE
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.
| Afya Limited | |||||
| By: | /s/ Virgilio Deloy Capobianco Gibbon | ||||
| Name: | Virgilio Deloy Capobianco Gibbon | ||||
| Title: | Chief Executive Officer | ||||
Date: November 3, 2020
FOR IMMEDIATE RELEASE:
Afya Limited Announces Closing of the Acquisition of FESAR - Faculdade de Ensino Superior da Amazônia Reunida
November 3, 2020 – Afya Limited, or Afya (Nasdaq: AFYA) in addition to the Press Release released by the Company on August 27,2020, today announced the closing of its acquisition, through its wholly-owned subsidiary Afya Participações S.A., of 100% of the total share capital of FESAR.
The aggregate purchase price was R$260.8 million, including the CDI rate adjustment from the singing and the real state of the operation, estimated at R$ 21.0 million, of which 100% was paid in cash on the closing of the operation.
FESAR is a post-secondary education institution with government authorization to offer on-campus, undergraduate courses in medicine in the State of Pará and medical course represents 70% of its 2019’s Net Revenue. The 2024 projected Net Revenue for FESAR is R$ 88.6 million at full maturity, with medical courses representing 94% of this amount, an EV/EBITDA of 4.7x adjusted by the real state, at maturity and post synergies.
The acquisition will contribute 120 medical school seats to Afya. FESAR has 227 medical students and a potential of 864 medical students at full maturity in 2024. In 2019, the institution had 951 students ex- medicine.
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 offering digital products to help doctors enhance their healthcare services through their whole career.
Contact: Investor Relations: ir@afya.com.br