Afya Limited is a medical education and technology company in Brazil that supports physicians throughout their professional lifecycle, from medical school enrollment through residency preparation, graduate and specialization programs, continuing medical education, and clinical practice. The company combines traditional classroom instruction with digital platforms to deliver an integrated learning experience that spans the entire career of a medical professional. The company’s mission is to improve healthcare outcomes by providing continuous education and technological support to medical professionals across Brazil. It leverages a hybrid model that blends in person teaching with digital resources to enhance learning accessibility and effectiveness.

Revenue is generated mainly from monthly tuition fees paid by undergraduate and continuing education students, which constitute the majority of the company’s income, and from subscription fees for its medical practice solutions such as clinical decision support tools and practice management software. Additional income comes from the sale of educational content, digital products, and services provided to third party institutions.

The company operates through the following segments.

• Undergraduate: This segment delivers undergraduate programs in medicine, health sciences, and other disciplines through a network of higher education institutions regulated by the Brazilian Ministry of Education, generating revenue from tuition fees charged to enrolled students.

• Continuing Education: This segment provides residency preparation courses, graduate programs, and continuing medical education via digital and in person platforms, serving physicians and medical students seeking ongoing professional development and earning revenue from subscription and course fees.

• Medical Practice Solutions: This segment offers clinical decision support platforms, practice management software, healthcare financial services, and digital ecosystem tools that help physicians manage their practices and improve patient care, with revenue derived from subscription fees paid by healthcare professionals.

Afya Limited holds the largest medical education footprint in Brazil based on the number of MEC approved medical school seats, with 3,755 seats as of the reporting date, surpassing competitors such as Player 1 with 2,060 seats, Player 2 with 1,867 seats, Player 3 with 1,069 seats, and Player 4 with 1,001 seats. The company’s integrated platform of education, technology and clinical solutions creates a differentiated position that is difficult to replicate due to regulatory barriers, a strong brand and a comprehensive ecosystem serving the full physician lifecycle.

The company serves a broad base of individual learners, including undergraduate and graduate medical students, residents and practicing physicians, as well as institutional clients such as third party medical schools, hospitals, and healthcare networks that adopt its educational content and digital tools. No specific customer names are disclosed in the filing, so the description focuses on the types of customers served.