Afya has acquired Faculdade Ciências Médicas da Paraíba (FCMPB), through its wholly-owned subsidiary Afya Participações.
The enterprise value was 380 million reais (£53 million), half to be paid on closing and the other half in four equal instalments through 2024, adjusted by the CDI rate.
FCMPB is a post-secondary education institution with government authorisation to offer on-campus, undergraduate courses in medicine in the state of Paraíba. The acquisition will contribute 157 medical school seats to Afya. FCMPB has 850 medical students and a potential of 1,130 medical students at full maturity in 2024.
Afya is based in Nova Lima.
Date published: 30 November 2020