Education group Afya purchases iClinic for US$32.9 million

Contxto – Afya, a group that focuses on health education, announced on October 13 the purchase of iClinic, a healthtech company, for R$182.7 million (US$32.9 million), which was bought with 61.5 percent cash and 38.5 percent in Afya shares.

Helping the medical community

With this new acquisition, the group will offer different services to doctors, like telemedicine, online appointments, billing, and electronic medical records.

iClinic uses Software as a Service (SaaS) for doctors, this software was mainly used in Brazil.

“With the acquisition of iClinic for our platform, Afya takes another step towards becoming the one stop shop for doctors in Brazil. Now, in addition to medical education and health courses and a clinical decision application, we have entered a new segment that can help doctors manage their clinics and provide better care for their patients,”  said Virgilio Gibbon, Afya president.

Afya makes strong purchases

This is Afya’s second purchase in this sector, back in July they bought PEBMED, a technological platform that helps make medical decisions such as medications and treatments. 

“Adding together our students and doctors who use PEBMED and iClinic, we serve 200,000 people. There are 500,000 doctors in Brazil,” said Gibbon.

This is Afya’s fourth overall purchase this year. They have bought two faculties and two companies that are focused on health technology.

Last year the group raised R$300 million (US$54 million) at their American Initial Public Offering (IPO) on the Nasdaq. After the iClinic purchase, their securities increased 0.6 percent to US$26.48.

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