NOVA LIMA, Brazil–(BUSINESS WIRE)–Afya Limited, or Afya (Nasdaq: AFYA) today announced the acquisition, through its wholly-owned subsidiary Afya Participações SA, of 100% of Glic.
Glic is a free diabetes care and management app for physicians and patients that uses technology to improve diabetes education and daily routine practices, connecting users, devices, and healthcare providers.
Glic has over 90,000 active end users and over 1,100 physicians using the app. The company expects 3.7 million reais in gross revenue for 2022.
This business combination represents entry into the doctor-patient relationship pillar and further strengthens Afya’s digital services strategy and ecosystem.
The total purchase price (enterprise value) paid to the sellers was 22 million reais, of which 100% was paid in cash. Earnings up to R$12 million can be paid, R$9 million related to established revenue targets for 2023 and 2024 and R$3 million related to product development and integration.
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Afya is a leading medical education group in Brazil based on medical school seats, offering an end-to-end physician-centric ecosystem that serves and enables students and physicians to turn their ambitions into enriching experiences throughout life from the moment they join us. as medical students through their medical residency preparation, graduation program, continuing medical education activities, and offering digital products to help physicians improve their services health throughout their careers.