LZB - AFYA Welcomes 300 Operational Medical School Seats in Salvador | Benzinga
Afya Limited (NASDAQ: AFYA) completed the acquisition of the total share capital of Unidom Participacoes S.A. (Unidompedro and Faculdade Dom Luiz) through its wholly-owned subsidiary Afya Participacoes S.A.
This strategic buyout will provide Afya with 300 operational medical school seats in Brazil's Salvador city. The average purchase price of this strategic transaction was R$ 660.0 million, of which R$ 347.8 million is already paid (net debt deduction) and the remaining R$ 312.2 million will be paid in about 10 annual installments of R$31.2 million each.
The authorization request for the 300 seats was made to the Ministry of Education ("MEC") before the Mais Medicos Law was enacted and MEC concluded its analysis and issued Ordinance 630/2020. Currently, among the 300 authorized seats of Unidompedro, 125 seats are final and the remaining 175 seats are subject to a conclusion of the Ordinance 630/2020 review by the MEC upon judicial order in 2021.
If Unidompedro wins ...