Afya Limited announced on December 19, 2024, that it has entered into a share purchase agreement for the acquisition of 100% of Faculdade Masterclass Ltda., known as Faculdade Única de Contagem (FUNIC). FUNIC is located in Contagem, Minas Gerais, a strategic metropolitan area.
This acquisition is set to add 60 medical seats to Afya's network. Furthermore, there is a potential for an additional 60 seats, contingent on approval from Brazil's Ministry of Education (MEC) within 36 months from the closing date. Each granted additional seat would result in an extra payment of R$1 million.
With the integration of FUNIC, Afya's total approved medical school seats are projected to reach 3,653. The company anticipates an EV/EBITDA of 3.3x at full maturity and post-synergies by 2030, with an expected net revenue of R$52.4 million, entirely derived from medicine programs.
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