Afya Limited, or Afya (Nasdaq: AFYA) today announced the acquisition of 100% of the total share capital of Medicinae, a leading Brazilian healthcare technology company that specializes in healthcare payments and financial services, through its wholly-owned subsidiary Afya Participações S.A.
The acquisition will expand Afya’s digital health services, as it offers a unique financial platform that allows healthcare professionals all over Brazil to manage receivables in an efficient and scalable way using FIDC (Receivables Investment Fund). Medicine relieves a number of challenges in the healthcare payments industry, as reduces long payment cycles for professionals and consolidates financial information, improving the consumer finance experience.
“This acquisition will give us advantages to enhance our digital services offerings, as it solves healthcare professional’s financial challenges. Combining Medicine’s solution with Afya’s scale, we will be able to grow it faster and continue to offer the best suite of services for physicians in Brazil,” said Virgílio Gibbon, Afya’s CEO.
Medicine has more than 1,420 registered users, R$ 76.0 million in annualized transactions, and has grown 11x revenue since 2018.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
The aggregate purchase price is R$ 5.6 million (Enterprise Value) of which 100% paid in cash as the date hereof.
Source: Biospace