Brazil's Afya closes acquisition of healthcare technology company iClinic

Brazil-based medical education group Afya Ltd. said Jan. 21 it completed the purchase of 100% of the share capital of Iclinic Desenvolvimento de Software Ltda. or 191.1 million reais.

IClinic is a medical practice management software and a physician-focused technology company in Brazil. Its portfolio includes electronic medical records, telemedicine, a clinical management system and a website that connects doctors and patients to schedule consultations.

The platform has more than 25,000 monthly active users, according to the announcement.

Afya said 62.6% of the purchase price was paid in cash while the remaining 37.4% was paid in the company's class A common shares.

The transaction was made through Afya subsidiary Afya Participações S.A, a provider of undergraduate and graduate courses related to medicine and health sciences.

Afya also recently completed its acquisition of medical education provider Faculdade Ciências Médicas da Paraíba, or FCMPB, for an enterprise value of 380 million reais.

As of Jan. 21, US$1 was equivalent to 5.39 Brazilian reais.