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JPMorgan Upgrades Afya Ltd. (AFYA) to Overweight

Wed, 07 Oct 2026 02:37:00 -0400

JPMorgan analyst Marcelo Santos upgraded Afya Ltd. (NASDAQ: AFYA) from Neutral to Overweight with a price target of $19.00 (from $21.00).

The analyst comments: “We upgrade Afya to OW from N on three accounts: (1) we are constructive on the merger, yielding R$1.8bn in synergies, resulting in a premium higher education company with ~$16m ADTV and 65% of EBITDA coming from medical schools and IBMEC, with steady FCF and a minimum 50% payout; (2) Afya is currently the most interesting vehicle, given 11% potential gain vs Yduqs considering the exchange ratio and dividends on both sides, allowing a potential arbitrage; (3)

JPMorgan Upgrades Afya Ltd. (AFYA) to Overweight

Wed, 07 Oct 2026 02:37:00 -0400

JPMorgan analyst Marcelo Santos upgraded Afya Ltd. (NASDAQ: AFYA) from Neutral to Overweight with a price target of $19.00 (from $21.00).

Form 4 Afya Ltd For: Oct 05 Filed by: FERREIRA SANTOS WELDER

Tue, 06 Oct 2026 16:49:00 -0400

si-local-file:///var/storage/secattach/20261006/27156127.html

Afya and Yduqs sign merger agreement to combine education groups

Fri, 02 Oct 2026 06:05:49 -0400

Afya Limited (NASDAQ: AFYA) and Yduqs Participações S.A. signed a merger agreement on September 23, 2026, under which Afya will be absorbed into Yduqs, with Yduqs serving as the surviving entity.

Under the terms of the agreement, Afya shareholders will receive 6.408347 newly issued Yduqs common shares for each Afya share held at closing. The exchange ratio is structured so that Afya shareholders will own 69% and Yduqs shareholders will own 31% of the combined company on a fully diluted basis immediately following the transaction's close.

Afya operates in the medical education sector and is incorporated in the Cayman Islands, with its

Afya and Yduqs sign merger agreement to combine education groups

Fri, 02 Oct 2026 06:05:49 -0400

Afya Limited (NASDAQ: AFYA) and Yduqs Participações S.A. signed a merger agreement on September 23, 2026, under which Afya will be absorbed into Yduqs, with Yduqs serving as the surviving entity.

Afya operates in the medical education sector and is incorporated in the Cayman Islands, with its

Merger Agreement and Other Covenants Entered Into by and Between AFYA LIMITED and YDUQS PARTICIPAÇÕES S.A.

Thu, 01 Oct 2026 18:53:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34):

Dated September 23, 2026

MERGER AGREEMENT AND OTHER COVENANTS

This Merger Agreement and Other Covenants (“Agreement”), dated as of September 23, 2026, is entered into by and among:

(1) AFYA LIMITED, an exempted company duly incorporated and existing under the laws of the Cayman Islands, with its registered office in the City of George Town, Cayman Islands, at P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, enrolled with the National Register of Legal Entities (Cadastro Nacional da Pessoa Jurídica) (“CNPJ/MF”) under No. 33.858.154/0001-78, duly represented herein in accordance with

Merger Agreement and Other Covenants Entered Into by and Between AFYA LIMITED and YDUQS PARTICIPAÇÕES S.A.

Thu, 01 Oct 2026 18:53:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34):

Dated September 23, 2026

MERGER AGREEMENT AND OTHER COVENANTS

This Merger Agreement and Other Covenants (“Agreement”), dated as of September 23, 2026, is entered into by and among:

Afya Limited and YDUQS Participações S.A. Controlling Shareholders Enter Into Voting Commitment Agreement

Thu, 01 Oct 2026 18:53:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34):

VOTING COMMITMENT AGREEMENT

entered into by and among

As Parties

ROSE FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA

CHAIM ZAHER

TCA 2 FUNDO DE INVESTIMENTO EM AÇÕES

NTCA NOVOS NEGÓCIOS EDUCACIONAIS LTDA.

ERSTE WV GÜTERSLOH GMBH

NICOLAU CARVALHO ESTEVES

NRE CAPITAL VENTURES LTD.

As Intervening Consenting Parties

YDUQS PARTICIPAÇÕES S.A.

AFYA LIMITED

Entered into on September 23, 2026

VOTING COMMITMENT AGREEMENT

This VOTING COMMITMENT AGREEMENT (“Agreement”) is entered into on September 23, 2026, by and among:

(1) ROSE FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA, a private equity investment fund in

Afya Limited and YDUQS Participações S.A. Controlling Shareholders Enter Into Voting Commitment Agreement

Thu, 01 Oct 2026 18:53:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34):

VOTING COMMITMENT AGREEMENT

entered into by and among

As Parties

ROSE FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA

CHAIM ZAHER

TCA 2 FUNDO DE INVESTIMENTO EM AÇÕES

NTCA NOVOS NEGÓCIOS EDUCACIONAIS LTDA.

ERSTE WV GÜTERSLOH GMBH

NICOLAU CARVALHO ESTEVES

NRE CAPITAL VENTURES LTD.

As Intervening Consenting Parties

YDUQS PARTICIPAÇÕES S.A.

AFYA LIMITED

Entered into on September 23, 2026

VOTING COMMITMENT AGREEMENT

This VOTING COMMITMENT AGREEMENT (“Agreement”) is entered into on September 23, 2026, by and among:

(1) ROSE FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES MULTIESTRATÉGIA, a private equity investment fund in

Afya Limited to Host Afya Day 2026 on October 20th in Rio de Janeiro

Thu, 01 Oct 2026 17:21:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the “Company”), the leading medical education group and medical practice solutions provider in Brazil, today announced that it will host its Afya Day on October 20th, 2026. At the event, Afya's executives will present the company's strategic evolution, business priorities and perspectives for sustainable value creation. The recording of the event will be available on Afya's Investor Relations website.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001237400/en/

Afya invites you
</article>
<article>
<h1>Afya Limited to Host Afya Day 2026 on October 20th in Rio de Janeiro</h1>
<p>Thu, 01 Oct 2026 17:21:00 -0400</p>
<p> BELO HORIZONTE, Brazil--(BUSINESS WIRE)--
<b>Afya Limited (Nasdaq: AFYA; B3: A2FY34)</b> (“Afya” or the “Company”), the leading medical education group and medical practice solutions provider in Brazil, today announced that it will host its Afya Day on October 20th, 2026. At the event, Afya's executives will present the company's strategic evolution, business priorities and perspectives for sustainable value creation. The recording of the event will be available on Afya's Investor Relations website.

</p><p id=

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001237400/en/

Afya invites you
</article>
<article>
<h1>Form 6-K Afya Ltd For: Sep 30</h1>
<p>Thu, 01 Oct 2026 06:05:00 -0400</p>
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</article>
<article>
<h1>Form 6-K Afya Ltd For: Sep 30</h1>
<p>Thu, 01 Oct 2026 06:05:00 -0400</p>
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</article>
<article>
<h1>Bradesco BBI Upgrades Afya Ltd. (AFYA) to Outperform</h1>
<p>Thu, 24 Sep 2026 08:14:07 -0400</p>
<p>Bradesco BBI analyst Marcio Osako upgraded Afya Ltd. (NASDAQ: AFYA) from Neutral to Outperform with a price target of $17.00.</p><p>For an analyst ratings summary and ratings history on Afya Ltd. <a href=

click here. For more ratings news on Afya Ltd. click here.

Shares of Afya Ltd. closed at $13.58 yesterday.

Form 6-K Afya Ltd For: Sep 30

Thu, 24 Sep 2026 06:01:00 -0400

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Afya and Yduqs agree to merge in Brazilian education deal

Thu, 24 Sep 2026 05:56:22 -0400

Afya Limited (Nasdaq: AFYA) and Yduqs Participações S.A. have signed a binding merger agreement that would combine the two Brazilian higher education companies, according to a press release from Afya.

Under the terms of the agreement, Afya would merge into Yduqs, with Yduqs surviving as the holding company for the combined group. Upon completion, the combined company's shares would be listed solely on B3 under the Novo Mercado segment, and Afya's Class A common shares would be delisted from Nasdaq.

The exchange ratio has been set at 6.408347 new Yduqs shares for each Afya share, based on the financial position of both

Afya and Yduqs agree to merge in Brazilian education deal

Thu, 24 Sep 2026 05:56:22 -0400

The exchange ratio has been set at 6.408347 new Yduqs shares for each Afya share, based on the financial position of both

Afya and Yduqs agree to merge in Brazilian education deal

Thu, 24 Sep 2026 05:56:22 -0400

The exchange ratio has been set at 6.408347 new Yduqs shares for each Afya share, based on the financial position of both

Afya Limited and Yduqs Participações S.A. Enter Into Merger Agreement

Wed, 23 Sep 2026 21:09:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the “Company”), announced today that it has entered into a binding merger agreement with Yduqs Participações S.A. (B3: YDUQ3) (“Yduqs” and, together with Afya, the “Companies”) providing for a business combination of the two companies (the “Proposed Transaction”).

The Proposed Transaction brings together two major Brazilian higher education platforms. Afya is one of Brazil’s leading medical education groups, based on the number of medical school seats, while Yduqs is one of Brazil’s leading higher education groups.

Under the terms of the definitive agreements, Afya would merge into

Afya Limited and Yduqs Participações S.A. Enter Into Merger Agreement

Wed, 23 Sep 2026 21:09:00 -0400

Under the terms of the definitive agreements, Afya would merge into

Afya gets 17 more medical seats approved in Acre, Brazil

Fri, 18 Sep 2026 09:27:43 -0400

Afya Limited (Nasdaq: AFYA) announced that Brazil's Ministry of Education authorized an increase of 17 medical seats at its AFYA Cruzeiro do Sul campus, located in the city of Cruzeiro do Sul in the state of Acre.

The authorization brings the total number of approved seats at that campus to 67, raising Afya's total approved medical seats across all campuses to 3,785, according to a press release from the company.

Afya Limited Announces Medical Seats Increase in AFYA Cruzeiro do Sul

Fri, 18 Sep 2026 09:22:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the “Company”), the leading medical education group and medical practice solutions provider in Brazil, today announced that the Secretary of Regulation and Supervision of Higher Education of the Ministry of Education (“MEC”) authorized the increase of 17 medical seats of ITPAC Cruzeiro do Sul – Instituto Tocantinense Presidente Antonio Carlos Porto S.A. (“AFYA Cruzeiro do Sul”), in the city of Cruzeiro do Sul, located in the state of Acre.

With the authorization, Afya reaches 67 medical seats on this campus, bringing the total approved seats to

Afya Limited Announces Medical Seats Increase in AFYA Cruzeiro do Sul

Fri, 18 Sep 2026 09:22:00 -0400

BELO HORIZONTE, Brazil--(BUSINESS WIRE)-- Afya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the “Company”), the leading medical education group and medical practice solutions provider in Brazil, today announced that the Secretary of Regulation and Supervision of Higher Education of the Ministry of Education (“MEC”) authorized the increase of 17 medical seats of ITPAC Cruzeiro do Sul – Instituto Tocantinense Presidente Antonio Carlos Porto S.A. (“AFYA Cruzeiro do Sul”), in the city of Cruzeiro do Sul, located in the state of Acre.

With the authorization, Afya reaches 67 medical seats on this campus, bringing the total approved seats to

Form 6-K Afya Ltd For: Sep 30

Fri, 18 Sep 2026 09:00:00 -0400

si-local-file:///var/storage/secattach/20260918/27078698.html

Afya confirms early-stage merger talks with Yduqs

Mon, 24 Aug 2026 09:26:32 -0400

Afya Limited (NASDAQ: AFYA) confirmed that it is in early-stage discussions with Yduqs Participações S.A. regarding a potential business combination between the two companies.

The confirmation follows a material fact disclosure made by Yduqs under Article 157, Paragraph 4 of Brazilian Law No. 6,404/1976 and CVM Resolution No. 44/2021.

According to a press release statement, no binding agreement, contract, or commitment has been entered into by either Afya or Yduqs, nor have their respective shareholders or management teams assumed any obligation in connection with a potential transaction. There is no assurance the discussions will result in any agreement or transaction.

Afya said it