Brazilian medical education group Afya has acquired Pebmed, through its wholly-owned subsidiary Afya Participações.

The net purchase price was 132.9 million reais, with the assumption of estimated net debt of 7.1 million reais, of which 86.8% was paid in cash, and 13.2% was paid in Afya’s stock. The price multiple is equivalent to four-times Pebmed’s annual recurring revenue.

Pebmed offers content and clinical decision applications aiming a better performance of the healthcare professional, through mobile and web application software that helps doctors, medical students and nurses to make faster and more accurate clinical decisions. IT also provides Portal Pebmed, a website that offers free references, perspectives and updates on medical news and scientific publications.

Virgílio Gibbon, Afya’s chief executive, said: “With the integration of Pebmed into our platform, Afya will continue to expand our offerings for the medical professionals now focusing in the interaction with the patient, With this acquisition, Afya will strengthen its position in the medical field and expand our digital platform.”

Bruno Lagoeiro, chief executive of Pebmed, added: “We founded Pebmed because we saw hundreds of doctors facing unprecedented circumstances and we wanted to help then in these difficult situations, Becoming part of the Afya platform will allow us to accelerate software development, reach more doctors and students across the country and fulfil our goal to help transform Brazilian health through the decisions that nurses and physicians make every day.”

Afya is based in Nova Lima.

Date published: 22 July 2020

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