Afya Limited acquires FESAR

Afya Limited acquired FESAR for R$262.4 million.

On November 3, 2020, Afya Brazil acquired 100% of FESAR, a post-secondary education institution in the State of Para authorized to offer on-campus undergraduate courses in medicine and health, where the medical course represented 70% of its 2019 net revenue. The acquisition added 120 medical school seats. The aggregate R$260,836 price (including CDI adjustment and real estate estimated at R$17,397) was paid entirely in cash at close and later adjusted by R$1,569 paid on February 25, 2021.

Expanded Afya's undergraduate medical education presence in the State of Para with 120 additional medical school seats.

Advisory firms were not disclosed for this transaction.

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