Afya Limited acquired IPEC for R$108.0 million.
On August 13, 2019, Afya Brazil acquired 100% of the share capital of IPEC, at the time a non-operational post-secondary institution with governmental authorization to offer on-campus undergraduate medicine courses in the State of Para. The acquisition added approximately 120 medical seats and IPEC became operational in September 2019. The aggregate purchase price was R$108 million (R$108,000 thousand): R$54 million cash at close and R$54 million payable in two equal annual installments adjusted by the CDI rate.
The deal expanded Afya's approved medical-school seat capacity in a new state (Para), consistent with its strategy to focus on medical education and medical schools.
Advisory firms were not disclosed for this transaction.