Afya Limited - AFYA STOCK NEWS

Afya Limited (NASDAQ: AFYA) announced the closing of a transaction where Bertelsmann acquired 6,000,000 Class B shares at US$26.90 each, granting Bertelsmann a ~57.5% voting interest. The company has also extended CEO Virgilio Gibbon's contract through May 2027 to support its expansion in medical education and digital health strategies. Additionally, Benedikt Dalkmann was appointed to the board to enhance leadership diversity.

Afya Limited (AFYA) held its Annual General Meeting on April 12, 2022, where key resolutions were approved. This included the ratification of financial statements for the fiscal year ending December 31, 2021, and the approval of the Amended and Restated Memorandum and Articles of Association. These changes are subject to closing a transaction disclosed on March 4, 2022, between the Esteves Family and Bertelsmann SE & Co. KGaA. Further details are available on their website.

Afya Limited (NASDAQ: AFYA) announced that Bertelsmann SE & Co. KGaA will purchase 6,000,000 Class B shares at US$26.90 each. This transaction follows a prior disclosure on March 7, 2022. After the deal, Bertelsmann will hold a 57.5% voting interest, while the Esteves Family will control 33.1%. The anticipated closing date for the transaction is May 4, 2022, pending standard closing conditions. This move strengthens Bertelsmann's and the Esteves Family's influence over Afya's decision-making processes.

Afya Limited (NASDAQ: AFYA) announced the resignation of Mr. Paulo Passoni from its Board of Directors, effective immediately. He has been a board member since May 2021. Mrs. Maria Tereza Azevedo has been appointed as his successor, bringing extensive experience in investment and corporate finance from her roles at Softbank, Santander, and UBS. This change aims to enhance the board's diversity and strategic decision-making capabilities, with Azevedo's expertise in the education sector being particularly valuable for Afya's growth.

Afya Limited (NASDAQ: AFYA) will announce its first-quarter 2022 financial results for the period ended March 31, 2022, on May 23, 2022, after market close. A conference call and webcast are scheduled for 5:00 PM EDT, providing insights into the company's performance. Afya is a prominent medical education group in Brazil, known for its extensive medical school offerings and a comprehensive ecosystem for medical students and professionals, enhancing their educational journey and professional development.

Afya Limited (NASDAQ: AFYA) is set to hold its Annual General Meeting (AGM) on April 29, 2022, at 11:00 AM Brasília time, both in-person and virtually. Key resolutions include the approval of the financial statements for the fiscal year ended December 31, 2021, and amendments to the Memorandum and Articles of Association following a transaction with Bertelsmann SE & Co. KGaA. Shareholders on record as of April 7, 2022, are eligible to participate and vote. The company emphasizes the importance of shareholder participation in decision-making.

Afya Limited (NASDAQ: AFYA) has announced the acquisition of 100% of CardioPapers for an enterprise value of R$35.0 million, paid in cash. CardioPapers is a leading medical content and education platform in Cardiology, offering over ten courses and engaging nearly 215,000 followers on Instagram. The platform generated R$18.8 million in gross revenue for 2022. Additional earn-out payments of up to R$15 million may be made based on revenue and other goals for 2023 and 2024. This acquisition is expected to enhance Afya's digital ecosystem and capabilities in medical education.

Afya Limited (NASDAQ: AFYA) delivered strong financial results for FY21, with adjusted net revenue rising 45.1% YoY to R$1,752.7 million. The company's adjusted EBITDA grew 34.0% YoY to R$754.8 million, resulting in an EBITDA margin of 43.1%. In Q4 2021, adjusted net revenue reached R$505.4 million, a 45.3% increase YoY, and adjusted EBITDA increased 25.9% to R$195.1 million. Afya achieved a cash position of R$748.6 million and a 100.8% cash conversion rate. The company also made strategic acquisitions and plans to continue expanding its medical education offerings, projecting 2022 adjusted net revenue of R$2.28-2.36 billion.