Afya announces acquisition of UniRedentor for R$225M
Afya Limited announced the acquisition, through its wholly-owned subsidiary Afya Participacoes S.A., of 100% of the total share capital of UniRedentor - Sociedade Universitaria Redentor, or UniRedentor. The transaction is subject to antitrust regulatory approval. UniRedentor is a non-profit post-secondary education institution with governmental authorization to offer on-campus, undergraduate courses in medicine in the State of Rio de Janeiro. UniRedentor also offers other health-related undergraduate degrees and graduation programs in medicine and health. In 2018, UniRedentor's gross revenue totaled R$108M and more than 70% came from health-related programs. The aggregate purchase price was R$225M, of which: R$125M will be paid in cash as of the closing date, and R$20M is payable in five equal installments through June 2024, adjusted by the CDI rate. to The acquisition will contribute 112 medical school seats to Afya, increasing Afya's total medical school seats to 1,684 and will fortify Afya's presence in medical graduation courses.