Afya Limited - AFYA STOCK NEWS

Afya Limited (NASDAQ: AFYA) announced a new share repurchase program allowing the purchase of up to 1,383,108 Class A common shares starting October 28, 2021, until December 31, 2022. This follows a previous program where 1,015,844 shares were repurchased. The initiative aims to utilize existing funds, and repurchases will be executed based on market conditions. Afya also appointed BofA Securities as the purchasing agent, adhering to SEC Rule 10b-18 to ensure compliance.

Afya Limited (NASDAQ: AFYA) has acquired 100% of RX PRO, a service facilitating connections between physicians and the pharmaceutical industry. RX PRO's innovative platform has reached over 45,000 physicians and is currently utilized by more than 12 pharmaceutical companies, forecasting a gross revenue of R$8.9 million for 2021. The acquisition cost R$35.4 million, with 85% paid in cash and the rest in Afya shares, plus an earn-out potential of R$21 million based on future revenue targets.

Afya Limited (Nasdaq: AFYA) reported robust financial results for Q2 and H1 2021, with adjusted net revenue of R$381.5 million, up 39.1% YoY, and R$784.0 million for H1, rising 43.5% YoY. Adjusted EBITDA also increased to R$160.7 million (42.1% margin) for Q2 and R$368.3 million (47.0% margin) for H1. However, adjusted net income fell 27.3% to R$65.1 million. Cash flow from operations surged 70.0% to R$343.2 million, aided by a strong cash position of R$1.4 billion. Afya continues its digital strategy with new acquisitions, targeting sustainable growth and increased market penetration.

Afya Limited (Nasdaq: AFYA) has announced it will report its second quarter 2021 financial results for the period ended June 30, 2021, after market close on August 26, 2021. This announcement rectifies a previous press release dated July 19, 2021. A conference call and webcast will be held on the same day at 5:00 PM EDT. The company is recognized as a leading medical education group in Brazil, offering a comprehensive ecosystem to support medical students through various stages of their training.

Afya Limited (Nasdaq: AFYA) has announced the sale of 23,074,134 Class B common shares by Crescera Educacional to an affiliate of Bertelsmann SE & Co. KGaA. Bertelsmann has held a stake in Afya since inception through Crescera and had a representative on Afya’s board since 2019. Following the transaction, Crescera board members Daniel Borghi and Laura Guaraná have left, while Bertelsmann appointed Shobhna Mohn and Kay Krafft to the board. Mohn brings extensive VC experience, and Krafft has a background in M&A and strategic investments.

Afya Limited (Nasdaq: AFYA) has successfully closed the acquisition of Companhia Nilza Cordeiro Herdy de Eduação e Cultura (UNIGRANRIO) for an enterprise value of R$700 million, including R$73.9 million in net debt. The payment structure consists of 60% in cash and 40% in four annual installments. This acquisition enhances Afya's educational capacity, adding 308 medical school seats and increasing total medical seats to 2,611, projecting a net revenue of R$343.2 million for 2023. The acquisition is expected to boost margins and deliver a 9% CAGR in medical student enrollment by 2026.

Afya Limited (Nasdaq: AFYA) successfully held its Annual General Meeting on July 23, 2021, where shareholders approved key resolutions. These included the ratification of financial statements for the fiscal year ending December 31, 2020, and the approval of an Amended and Restated Memorandum and Articles of Association. These changes are in accordance with a share purchase agreement established on June 7, 2021, with Crescera Educacional II and Erste WV Gtersloh Gmbh. Afya is a prominent medical education group in Brazil, focusing on enhancing medical students' and physicians' experiences.

Afya Limited (Nasdaq: AFYA) is set to release its second quarter 2021 financial results on August 26, 2021, after market close. The subsequent conference call is scheduled for August 27 at 11:00 AM EDT.

This timely update follows the company's role as a major medical education provider in Brazil, underscoring its dedication to lifelong learning for medical professionals. The investor relations information can be accessed through their website.