Afya Limited (AFYA) 20-F 30 Apr 21 2020 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2020shares
Disclosure of classes of share capital [line items]
Entity Registrant Name	Afya Ltd
Entity Central Index Key	0001771007
Document Type	20-F
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Transition Report	false
Document Shell Company Report	false
Document Annual Report	true
Entity Interactive Data Current	Yes
Auditor Attestation Flag	true
Entity Incorporation, State or Country Code	E9
Document Accounting Standard	International Financial Reporting Standards
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Class A Ordinary Shares [Member]
Disclosure of classes of share capital [line items]
Entity Common Stock, Shares Outstanding	45,112,416
Class B Ordinary Shares [Member]
Disclosure of classes of share capital [line items]
Entity Common Stock, Shares Outstanding	48,034,315

Consolidated statements of fina

Consolidated statements of financial position - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	R$ 1045042	R$ 943209
Restricted cash		14,788
Trade receivables	302,317	125,439
Inventories	7,509	3,932
Recoverable taxes	21,019	6,485
Other assets	29,614	17,912
Total current assets	1,405,501	1,111,765
Non-current assets
Restricted cash	2,053	2,053
Trade receivables	7,627	9,801
Other assets	74,037	17,267
Property and equipment	260,381	139,320
Investment in associate	51,410	45,634
Right-of-use assets	419,074	274,275
Intangible assets	2,573,010	1,312,338
Total non-current assets	3,387,592	1,800,688
Total assets	4,793,093	2,912,453
Current liabilities
Trade payables	35,743	17,628
Loans and financing	107,162	53,607
Derivatives		757
Lease liabilities	61,976	22,693
Accounts payable to selling shareholders	188,420	131,883
Notes payable	10,503
Advances from customers	63,839	36,860
Labor and social obligations	77,855	46,770
Taxes payable	32,976	19,442
Income taxes payable	4,574	3,213
Other liabilities	6,331	376
Total current liabilities	589,379	333,229
Non-current liabilities
Loans and financing	510,323	6,750
Lease liabilities	385,727	261,822
Accounts payable to selling shareholders	329,820	168,354
Notes payable	65,678
Taxes payable	21,425	21,304
Provision for legal proceedings	53,139	5,269
Other liabilities	3,822	1,999
Total non-current liabilities	1,369,934	465,498
Total liabilities	1,959,313	798,727
Equity
Share capital	17	17
Additional paid-in capital	2,323,488	1,931,047
Share-based compensation reserve	50,724	18,114
Retained earnings	407,991	115,916
Equity attributable to equity holders of the parent	2,782,220	2,065,094
Non-controlling interests	51,560	48,632
Total equity	2,833,780	2,113,726
Total liabilities and equity	R$ 4793093	R$ 2912453

Consolidated statements of inco

Consolidated statements of income and comprehensive income - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Profit or loss [abstract]
Net revenue	R$ 1201191	R$ 750630	R$ 333935
Cost of services	(434,654)	(308,853)	(168,052)
Gross profit	766,537	441,777	165,883
General and administrative expenses	(402,855)	(239,120)	(70,034)
Other (expenses) income, net	(347)	2,594	599
Operating income	363,335	205,251	96,448
Finance income	62,290	51,689	10,428
Finance expenses	(98,269)	(72,365)	(8,154)
Finance result	(35,979)	(20,676)	2,274
Share of income of associate	7,698	2,362
Income before income taxes	335,054	186,937	98,722
Income taxes expense	(27,067)	(14,175)	(3,988)
Net income	307,987	172,762	94,734
Other comprehensive income
Total comprehensive income	307,987	172,762	94,734
Net income attributable to
Equity holders of the parent	292,075	153,916	86,353
Non-controlling interests	15,912	18,846	8,381
Total comprehensive income	R$ 307987	R$ 172762	R$ 94734
Basic earnings per share
Per common share (in dollars per R$)	R$ 3.15	R$ 2.03	R$ 1.84	[1]
Diluted earnings per share
Per common share (in dollars per R$)	R$ 3.12	R$ 2.02	R$ 1.81	[1]
[1]	Considers the effects from the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya.

Consolidated statements of chan

Consolidated statements of changes in equity - BRL (R$) R$ in Thousands	Share capital [member]	Additional paid-in capital [member]	Share-based compensation reserve [member]	Legal reserve [member]	Retained earnings reserve [member]	Retained earnings [member]	Total [member]	Non-controlling interests [member]	Total
Balances at beginning at Dec. 31, 2017	R$ 66485	R$ 63588		R$ 2905	R$ 40309		R$ 46111	R$ 651	R$ 46762
Changes in equity [Roll forward]
Net income						86,353	86,353	8,381	94,734
Total comprehensive income						86,353	86,353	8,381	94,734
Capital increase with cash	156,304						156,304		156,304
Capital increase with reserve	80,541				(40,312)	(40,229)
Capital increase with contribution of IPTAN and IESVAP	11,670	188,602					200,272		200,272
Dividends declared						10,781	10,781		10,781
Share-based compensation			2,161				2,161		2,161
Legal reserve				4,318		(4,318)
Dividends declared to non-controlling interests								(5,845)	(5,845)
Non controling interest arising on business combination								85,185	85,185
Earning retention					52,587	(52,587)
Balances at ending at Dec. 31, 2018	315,000	125,014	2,161	7,223	52,584		501,982	88,372	590,354
Changes in equity [Roll forward]
Net income						153,916	153,916	18,846	172,762
Total comprehensive income						153,916	153,916	18,846	172,762
Capital increase with cash	150,000						150,000		150,000
Capital increase from shares contribution of shareholders	48,768	36,358					85,126	(44,774)	40,352
Capital increase from the corporate reorganization	122,062	137,051					259,113		259,113
Dividends declared						(38,000)	(38,000)	(13,812)	(51,812)
Share-based compensation	1	17,627	18,114				35,742		35,742
Allocation to additional paid-in capital		33,001			(33,001)
Dividends cancelled					4,107		4,107		4,107
Corporate reorganization	(635,830)	668,904	(2,161)	(7,223)	(23,690)
Issuance of common shares in follow-on public offering	16	992,762					992,778		992,778
Share issuance cost		(79,670)					(79,670)		(79,670)
Balances at ending at Dec. 31, 2019	17	1,931,047	18,114			115,916	2,065,094	48,632	2,113,726
Changes in equity [Roll forward]
Net income						292,075	292,075	15,912	307,987
Total comprehensive income						292,075	292,075	15,912	307,987
Capital increase from shares contribution of shareholders		17,531					17,531		17,531
Dividends declared								(12,984)	(12,984)
Share-based compensation		5,444	32,610				38,054		38,054
Issuance of common shares in follow-on public offering		389,170					389,170		389,170
Share issuance cost		(19,704)					(19,704)		(19,704)
Balances at ending at Dec. 31, 2020	R$ 17	R$ 2323488	R$ 50724			R$ 407991	R$ 2782220	R$ 51560	R$ 2833780

Consolidated statements of cash

Consolidated statements of cash flows - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Income before income taxes	R$ 335054	R$ 186937	R$ 98722
Adjustments to reconcile income before income taxes
Depreciation and amortization	108,744	73,152	9,078
Disposals of property and equipment		78
Allowance for doubtful accounts	32,081	15,040	7,714
Share-based compensation expense	32,610	18,114	2,161
Net foreign exchange differences	4,613	(13,321)	2,697
Net loss (gain) on derivatives	(20,739)	1,780	(1,219)
Accrued interest	25,543	24,002	1,856
Accrued lease interest	44,458	31,469
Share of income of associate	(7,698)	(2,362)
Provision for legal proceedings	5,354	(2,568)	(344)
Others			(11)
Changes in assets and liabilities
Trade receivables	(164,286)	(35,556)	(28,198)
Inventories	(3,110)	(236)	(593)
Recoverable taxes	(13,709)	(3,940)	(63)
Other assets	(23,902)	(7,403)	(3,304)
Trade payables	4,475	3,029	(1,528)
Taxes payables	(552)	4,940	(3,797)
Advances from customers	(1,951)	19,324	2,073
Labor and social obligations	11,125	6,124	(3,019)
Other liabilities	22,771	(10,881)	1,990
Total adjustments to reconcile income with net cash from operations	390,881	307,722	84,215
Income taxes paid	(19,374)	(8,506)	(3,897)
Net cash flows from operating activities	371,507	299,216	80,318
Investing activities
Acquisition of property and equipment	(89,832)	(56,964)	(18,634)
Acquisition of intangibles assets	(47,753)	(64,745)	(3,053)
Restricted cash	14,788	7,530	(18,810)
Payments of notes payable	(5,974)
Acquisition of subsidiaries, net of cash acquired	(913,991)	(241,568)	(221,298)
Loans to related parties		1,598	(594)
Net cash flows used in investing activities	(1,042,762)	(354,149)	(262,389)
Financing activities
Issuance of loans and financing	605,041	7,383	74,980
Payments of loans and financing	(155,090)	(75,093)	(6,492)
Payments of lease liabilities	(55,455)	(39,779)
Related parties loans			(106)
Capital increase	5,444	167,628	156,304
Dividends paid to non-controlling interests	(12,984)	(51,812)	(5,845)
Proceeds from initial public offering	389,170	992,778
Share issuance costs	(19,704)	(79,670)
Net cash flows from (used in) financing activities	756,422	921,435	218,841
Net foreign exchange differences	16,666	14,447
Net increase in cash and cash equivalents	101,833	880,949	36,770
Cash and cash equivalents at the beginning of the year	943,209	62,260	25,490
Cash and cash equivalents at the end of the year	R$ 1045042	R$ 943209	R$ 62260

1 Corporate information

1 Corporate information	12 Months Ended
	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
Corporate information	1 Corporate information Afya Limited (“Afya”) and its subsidiaries (collectively, the “Company”) is a holding company incorporated under the laws of the Cayman Islands on March 22, 2019. Afya Limited became the holding company of Afya Participações S.A. (hereafter referred to as “Afya Brazil”), formerly denominated NRE Participações S.A., through the completion of the corporate reorganization described below. Until the contribution of Afya Brazil shares to Afya Limited in July 2019, Afya Limited did not have commenced operations and had only nominal assets and liabilities and no material contingent liabilities or commitments. Accordingly, Afya Limited’s consolidated financial information substantially reflect the operations of Afya Brazil after the corporate reorganization. The Company is formed by a network of higher education and post graduate institutions focused on medicine located in 18 Brazilian states forming the largest educational group by the number of medical seats in the country and by services that comprises the development and sale of electronically distributed educational courses on medicine science, related printed and technological educational content and mobile app subscription for digital medical content. Corporate reorganization On March 29, 2019, Afya Brazil merged (i) BR Health Participações S.A. (“BR Health”), a wholly-owned subsidiary of Bozano Educacional II Fundo de Investimento em Participações Multiestratégia (“Crescera”) that controlled Guardaya Empreendimentos and Participações S.A. (“Guardaya”) and was one of Afya Brazil’s shareholders; and (ii) Guardaya which owned 100% of Medcel Editora e Eventos S.A. (“Medcel Editora”) and CBB Web Serviços e Transmissões On Line S.A. (“CBB Web”), focused on medical residency preparation courses located in the state of São Paulo, resulting in the transfer to Afya Brazil of 100% of Medcel Editora and CBB Web and 15% of União Educacional do Planalto Central S.A. (“UEPC”), a medical school located in the Federal District. On June 18, 2019 Afya Brazil acquired an additional 15% interest in UEPC resulting in an interest of 30%. On July 7, 2019, each of Afya Brazil´s shareholders had agreed to contribute their respective shares on Afya Brazil into Afya Limited, exchanging one common share into 28 Class A or Class B common shares of Afya Limited. The holders of the Class A common shares and Class B common shares have identical rights, except that (i) the holder of Class B common shares is entitled to 10 votes per share, whereas holders of Class A common shares are entitled to one vote per share, (ii) Class B common shares have certain conversion rights and (iii) the holders of Class B common shares are entitled to maintain their proportional ownership interest in the event that common shares and/or preferred shares are proposed to be issued. The holders of Class A common shares and Class B common shares vote together as a single class on all matters (including the election of directors) submitted to a vote of shareholders, unless otherwise required by law and subject to certain exceptions. Initial public offering On July 18, 2019, Afya Limited priced its initial public offering (“IPO”) of 13,744,210 Class A common shares, which began trading on the Nasdaq Global Select Market (“NASDAQ”) on July 19, 2019 under the symbol “AFYA”. On July 23, 2019, the underwriters exercised the option to buy an additional 2,061,631 Class A common shares to cover over-allotments, totaling 15,805,841 Class A common shares, which 13,888,887 Class A common shares were offered by Afya Limited and 1,916,954 Class A common shares were offered by the selling shareholders at the initial public offering price. The initial offering price was US$ 19.00 per Class A common share. On July 23, 2019, the share capital of Afya Limited was increased by 13,888,887 Class A shares through the proceeds received as a result of the IPO of US$ 263,888 thousand (or R$ 992,778). The net proceeds from the IPO were US$ 242,711 thousand (or R$ 913,108), after deducting US$ 15,833 thousand (or R$ 59,566) in underwriting discounts and commissions and other offering expenses totaled US$ 5,344 thousand (or R$ 20,104). The share issuance costs totaled R$ 79,670. Afya Limited transferred US$ 251,800 thousand (or R$ 961,438) of the net proceeds from the Cayman Islands to bank accounts in Brazil. These deposits are invested on first-line financial institutions in Brazil and are denominated in Brazilian reais. Issuance of additional common shares On February 6, 2020, Afya completed its follow-on public offering of 3,019,928 Class A common shares offered by the Company and 9,406,812 Class A common shares offered by the selling shareholders. The offering price was US$ 27.50 per Class A common shares and gross proceeds of R$ 358,286 (US$ 83,048 thousand). The Company received net proceeds of R$ 339,648 (US$ 78,846 thousand), after deducting R$ 18,638 (US$ 4,202 thousand) in underwriting discounts, commissions and other offering expenses. On March 10, 2020, the underwriters exercised their option to acquire additional 240,552 Class A common shares at the offering price, resulting in gross proceeds of R$ 30,884 (US$ 6,615 thousand). The net proceeds from the additional shares were R$ 29,819 (US$ 6,387 thousand), after deducting R$ 1,066 (U$ 228 thousand) in underwriting discounts and commissions. Afya transferred R$ 294,312 (US$ 68,060 thousand) of the net proceeds to bank accounts in Brazil with an increase in the capital of Afya Brazil. These deposits were invested in first-line financial institutions in Brazil and are denominated in Brazilian reais. Acquisitions in 2020 (i) On January 31, 2020, Afya Brazil acquired control of Sociedade Universitária Redentor S.A. ("UniRedentor"), through the acquisition of 100% of its shares. UniRedentor is a post-secondary education institution with governmental authorization to offer on-campus, undergraduate degrees and graduate programs in medicine and health, as well as other courses, in the State of Rio de Janeiro. See Note 5. (ii) On May 5, 2020, Afya Brazil acquired control of Centro Universitário São Lucas Ltda. (“UniSL”), through the acquisition of 100% of its shares. UniSL is a post-secondary education institution with governmental authorization to offer on-campus, undergraduate courses in medicine and health, as well as other courses, in the State of Rondônia. See Note 5. (iii) On July 20, 2020, Afya Brazil acquired control of PEBMED Instituição de Pesquisa Médica e Serviços Tecnológicos da Área da Saúde S.A. (iv) On November 3, 2020, Afya Brazil acquired 100% of the total share capital of Faculdade de Ensino Superior da Amazônia Reunida (v) On November 4, 2020, Afya Brazil acquired 100% of the total share capital of MedPhone Tecnologia em Saúde Ltda. (“MedPhone”). MedPhone is a clinical decision and leaflet consultation app in Brazil, that helps physicians, medical students and other healthcare professionals to make faster and more accurate decisions on a daily basis. See Note 5. (vi) On November 9, 2020, Afya Brazil acquired 100% of the total share capital of Centro Superior de Ciências da Saúde S/S Ltda. Other acquisitions (i) On October 22, 2020, Afya Brazil entered into a purchase agreement for the acquisition of 100% of the total share capital of Sociedade Padrão de Educação Superior Ltda. . (ii) See Note 24 for for further information regarding other acquisitions concluded after December 31, 2020. COVID-19 In December 2019, a novel strain of coronavirus (COVID-19) was reported to have emerged in Wuhan, China. COVID-19 has since spread to most of the countries around the globe, including every state in Brazil. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic, and on March 20, 2020 the Brazilian federal government declared a national emergency with respect to COVID-19. Since March 17, 2020, there has been some interruption of our on-campus activities due to Brazilian government authorities mandatory lockdowns. We managed to rapidly adapt our business to these unusual times, and although there has been an interruption of our on-campus activities, we are offering our non-practical educational activities to our students through our online platform (rather than on-site). Regarding the offering of practical classes, we quickly resumed our in-hospital and health care residency programs for fifth and sixth year students, which represents the largest portion of our practical curriculum. As of December 31, 2020, we have recorded deferred revenues of R$2,361 in advances from customers in the statement of financial position because some of our practical educational activities (particularly for students in the first to fourth years) that we provide in our on-campus labs and clinics were suspended and thus a portion of the net revenue should be deferred to the next year, in accordance with IFRS 15. During 2020, the States of Rio de Janeiro, Pará, Tocantins, Piauí, Rondonia, Bahia and Maranhão had issued state decrees granting discounts to our students because of COVID-19. As of the date of these financial statements, these mandatory discounts have been suspended as their constitutionality has been challenged in the superior courts. As long as it has not been declared constitutional, we started to invoice our students without these discounts and, from March 2021, with the discount granted during 2020. Additionally, we are also facing individual and collective legal proceedings all across the country, which total R$ 6,545 during 2020 that are still pending on final legal decisions to be recovered. As we continue to offer non-practical educational activities to our students through our platform and practical activities for fifth and sixth year students, through the same professors, staff and suppliers, we continue to charge our standard monthly tuitions fees. We are committed to deliver the best quality service, minimize the impacts of the COVID-19 pandemic on our students, employees and our local communities. In addition, as of the date of these financial statements, the COVID-19 pandemic has had no significant impact on the payment default rates of our students. We continue to support our students by providing special payment arrangements. Furthermore, there have been no significant impacts on our financial performance and position of assets and there have been no significant changes in our financial condition triggering impairment indicators in these financial statements. The COVID-19 pandemic is still evolving, and Brazilian authorities may maintain a lockdown of our on-campus activities for a longer or undefined extended of period of time or impose a more severe lockdown, among other measures, all of which are outside of our control and may materially adversely affect our business and results of operations including the resumption of on-campus practical classes. We may also suffer labor shortages, particularly of our teaching faculty, which is mostly comprised of doctors that continue to have work shifts at hospitals and are consequently more exposed to COVID-19 than non-medical administrative staff. Furthermore, the COVID-19 pandemic is expect to cause a material and adverse effect on the general economic, financial, political, demographic and business conditions in Brazil, which may reduce the disposable income of our students and their families, and consequently (i) result in an adverse impact on the ability of our students (current and/or prospective) to pay our tuition fees and/or (ii) trigger an increase in our attrition rates. While we are aware of the uncertainties created by the COVID-19 pandemic, we remain confident in our strategy, in the financial robustness of our business and in our contribution of high quality medical professionals who we believe will help our society overcome the COVID-19 pandemic and other future challenges.

2 Significant accounting polici

2 Significant accounting policies	12 Months Ended
	Dec. 31, 2020
Significant Accounting Policies [Abstract]
Significant accounting policies	2 Significant accounting policies 2.1 Basis for preparation of the consolidated financial statements The Company’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared on a historical cost basis, except for derivative financial instruments that have been measured at fair value. The corporate reorganization described in Note 1, occurred on July 7, 2019, was accounted for as a reorganization of entities under common control whereby Afya Limited was created as a holding company of Afya Brazil. As a result, the assets and liabilities of Afya Brazil is carried at historical cost and there was no step-up in basis or goodwill, or other intangible assets recorded as a result of the corporate reorganization. As a result, the consolidated financial statements prepared by the Company subsequent to the completion of the reorganization are presented “as if” Afya Brazil is the predecessor of the Company. Accordingly, these consolidated financial statements reflect: (i) the historical operating results of Afya Brazil prior to the reorganization; (ii) the consolidated results of the Company and Afya Brazil following the reorganization; (iii) the assets and liabilities of Afya Brazil at their historical cost; and (iv) the Company’s equity and earnings per share for all periods presented. Afya Limited is a holding company, as such the primary source of revenue derives from its interest on the operational companies in Brazil. As result, the Brazilian Real has been assessed as the Company`s functional currency. The consolidated financial statements are presented in Brazilian reais (“BRL” or “R$”), which is the Company’s functional and presentation currency. All amounts are rounded to the nearest thousand. These consolidated financial statements as of and for the year ended December 31, 2020 were authorized for issue by the Board of Directors on April 30, 2021. 2.2 Basis of consolidation The table below list the Company’s subsidiaries and associate: Direct and indirect interest Name Principal activities Location Investment type December 31, 2020 December 31, 2019 December 31, 2018 Afya Participações S.A. (Afya Brazil) Holding Nova Lima - MG Subsidiary 100% 100% 100% Instituto Tocantinense Presidente Antônio Carlos Porto S.A. – (“ITPAC Porto”) Undergraduate and graduate degree programs Porto Nacional - TO Subsidiary 100% 100% 100% Instituto Tocantinense Presidente Antônio Carlos S.A. – (“ITPAC Araguaina”) Undergraduate and graduate degree programs Araguaína - TO Subsidiary 100% 100% 100% União Educacional do Vale do Aço S.A. – (“UNIVAÇO”) Undergraduate and graduate degree programs Ipatinga - MG Subsidiary 100% 100% 76% IPTAN - Instituto de Ensino Superior Presidente Tancredo de Almeida Neves S.A. (“IPTAN”) Undergraduate and graduate degree programs São João Del Rei - MG Subsidiary 100% 100% 100% Instituto de Educação Superior do Vale do Parnaíba S.A. (“IESVAP”) Undergraduate and graduate degree programs Parnaíba - PI Subsidiary 80% 80% 80% Centro de Ciências em Saúde de Itajubá S.A. (“CCSI”) Undergraduate and graduate degree programs Itajubá - MG Subsidiary 60% 60% 60% Instituto de Ensino Superior do Piauí S.A. (”IESP”) Undergraduate and graduate degree programs Teresina - PI Subsidiary 100% 100% 80% RD Administração e Participações Ltda. (“RD”) **** Holding Pato Branco - PR Subsidiary - 100% 100% FADEP - Faculdade Educacional de Pato Branco Ltda. (“FADEP”) Undergraduate and graduate degree programs Pato Branco - PR Subsidiary 100% 100% 100% CBB Web Serviços e Transmissões Online S.A. (“CBBW”)*** Medical education courses and online platform São Paulo - SP Subsidiary - 100% - Medcel Editora e Eventos S.A. (“Medcel”) Medical education content São Paulo - SP Subsidiary 100% 100% - Instituto Educacional Santo Agostinho S.A. (“FASA”) Undergraduate and graduate degree programs Montes Claros - MG Subsidiary 100% 100% - ESMC Educação Superior Ltda.* Undergraduate and graduate degree programs Montes Claros - MG Subsidiary 100% - - Instituto de Pesquisa e Ensino Médico do Estado de Minas Gerais Ltda. (“IPEMED”) Post-graduate Belo Horizonte - MG Subsidiary 100% 100% - Instituto Paraense de Educação e Cultura Ltda (“IPEC”) Undergraduate and graduate degree programs Marabá - PA Subsidiary 100% 100% - Sociedade Universitária Redentor S.A. (“UniRedentor”) ** Undergraduate and graduate degree programs Itaperuna - RJ Subsidiary 100% - - Centro Universitário São Lucas Ltda. (“UniSL”) ** Undergraduate and graduate degree programs Porto Velho - RO Subsidiary 100% - - PEBMED Instituição de Pesquisa Médica e Serviços Tecnológicos da Área da Saúde S.A. (“PEBMED”)** Content and clinical tools and online platform Rio de Janeiro – RJ Subsidiary 100% - - Centro Superior de Ciências da Saúde S/S Ltda. ("FCMPB") Undergraduate and graduate degree programs João Pessoa – PB Subsidiary 100% - - Faculdade de Ensino Superior da Amazônia Reunida – (“FESAR”) Undergraduate and graduate degree programs Redenção – PA Subsidiary 100% - - MedPhone Tecnologia em Saúde Ltda. (“MedPhone”) Content and clinical tools and online platform Recife – PE Subsidiary 100% - - União Educacional do Planalto Central S.A. (“UEPC”) Undergraduate and graduate degree programs Brasília - DF Associate 30% 30% - * On January 1, 2020, Afya Brazil incorporated ESMC Educação Superior Ltda. (“ESMC”) and transferred the two FASA campuses located in the State of Minas Gerais, which do not offer medicine courses, to ESMC. This spin-off did not have an impact on the consolidated financial statements. ** See Note 5.1 for further details on the business combinations during 2020. *** CBBW was merged by Medcel on May 1, 2020. **** RD Administração e Participações Ltda was merged by Afya Brazil on December 15, 2020. The financial information of the acquired subsidiaries is included in the Company’s consolidated financial statements beginning on the respective acquisition dates. The Company consolidates the financial information for all entities it controls. Control is achieved when the Company is exposed to, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and it ceases when the Company loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Company gains control until the date the Company ceases to control the subsidiary. When necessary, adjustments are made to the financial statements of subsidiaries in order to bring their accounting policies in line with the Company’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Company loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resulting gain or loss is recognized in the statement of income. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statements of financial position, consolidated statements of income and comprehensive income and consolidated statements of changes in equity. 2.3 Summary of significant accounting policies This note provides a description of the significant accounting policies adopted in the preparation of these consolidated financial statements in addition to other policies that have been disclosed in other notes to these consolidated financial statements. These policies have been consistently applied to all periods presented, except for the adoption of IFRS 16 as of January 1, 2019. The accounting policies have been consistently applied to all consolidated companies. a) Business combinations and goodwill Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business combination, the Company elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in general and administrative expenses. When the Company acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date. Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Company re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in the consolidated statement of income. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained. b) Current versus non-current classification The Company presents assets and liabilities in the statement of financial position based on current/non current classification. An asset is current when it is: • Expected to be realized or intended to be sold or consumed in the normal operating cycle; • Held primarily for the purpose of trading; • Expected to be realized within twelve months after the reporting period; or • Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when: • It is expected to be settled in the normal operating cycle; • It is held primarily for the purpose of trading; • It is due to be settled within twelve months after the reporting period; or • There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The Company classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities. c) Fair value measurement The Company measures derivative financial instruments at fair value at each balance sheet date as disclosed in Note 12.3. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (i) in the principal market for the asset or liability; or (ii) in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: • Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities. • Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. • Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. At each reporting date, the Company analyzes the movements in the values of assets and liabilities which are required to be remeasured or re-assessed as per the Company’s accounting policies. For this analysis, the Company verifies the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents. The Company also compares the change in the fair value of each asset and liability with relevant external sources to determine whether the change is reasonable. For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above. d) Financial instruments – initial recognition and measurement A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. i) Financial assets Initial recognition and measurement The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, are measured at the transaction price determined under IFRS 15. In order for a financial asset to be classified and measured at amortized cost or fair value through OCI (Other Comprehensive Income), it needs to give rise to cash flows that are “solely payments of principal and interest (SPPI)” on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Company commits to purchase or sell the asset. Subsequent measurement For purposes of subsequent measurement, financial assets are classified as: financial assets at amortized cost or financial assets at fair value through profit or loss. There is no financial assets designated as fair value through OCI. Financial assets at amortized cost The Company measures financial assets at amortized cost if both of the following conditions are met: • The financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows, and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in the statement of income when the asset is derecognized, modified or impaired. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of income. This category includes derivative instruments. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Company’s statement of financial position) when: • The rights to receive cash flows from the asset have expired; or • The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. Impairment of financial assets Further disclosures relating to impairment of financial assets are also provided in the following notes: • Significant accounting estimates and assumptions – Note 3 • Trade receivables – Note 7 The Company recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and the cash flows the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. For trade receivables, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes an allowance for credit losses based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company considers a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. ii) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company’s financial liabilities include trade payables, loans and financing and accounts payable to selling shareholders. Subsequent measurement The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Gains or losses on liabilities held for trading are recognized in the statement of income. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. Loans and borrowings After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in the statement of income when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance expenses in the statement of income. Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of income. Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously. e) Derivative financial instruments The Company has derivative financial instruments related to cross-currency interest rate swaps in connection with a loan denominated in Euros. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. Any gains or losses arising from changes in the fair value of derivatives are recorded directly to finance result in the statement of income. f) Cash and cash equivalents Cash and cash equivalents in the statement of financial position comprise cash at banks and on hand, and short-term financial investments with an original maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term financial investments, as they are considered an integral part of the Company’s cash management. g) Restricted cash Restricted cash in the statement of financial position comprise of financial investments in investment funds that serve as collateral for loan agreements and other commitments. h) Inventories Inventories are valued at the lower of cost and net realizable value. The costs of inventories are based on the average cost method and include costs incurred in the purchase of inventories and other costs incurred in bringing them to their current location and condition. Costs of purchased inventory are determined after deducting any discounts and recoverable taxes. i) Property and equipment Property and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Subsequent expenditures are capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the Company. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Building 25 years Machinery and equipment 10 years Vehicles 4 years Furniture and fixtures 10 years IT equipment 5 years Library books 10 years Laboratories and clinics 10 years Leasehold improvements 20 years An item of property and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefit is expected from its use or disposal. Any gain or loss arising on the derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of income when the asset is derecognized. The residual values, useful lives and methods of depreciation of property and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate. j) Leases Prior to the adoption of IFRS 16, the determination of whether an arrangement is (or contains) a lease was based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset (or assets) and the arrangement conveys a right to use the asset (or assets), even if that asset is (or those assets are) not explicitly specified in an arrangement. A lease was classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Company was classified as a finance lease. An operating lease is a lease other than a finance lease. The Company did not have leases classified as finance lease. Operating lease payments were recognized as an operating expense in the statement of income on a straight-line basis over the lease term. As from January 1, 2019, the determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the contract. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset (or assets) and the arrangement conveys a right to use the asset (or assets), even if that asset is (or those assets are) not explicitly specified in an arrangement. Company as a lessee The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Company recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. Right-of-use assets The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Company is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Company applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term. k) Intangible assets Intangible assets acquired separately are measured o

3 Significant accounting estima

3 Significant accounting estimates and assumptions	12 Months Ended
	Dec. 31, 2020
Significant Accounting Estimates And Assumptions
Significant accounting estimates and assumptions	3 Significant accounting estimates and assumptions The preparation of the Company’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Accounting estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to estimates are recognized prospectively. Other disclosures relating to the Company’s exposure to risks and uncertainties includes: • Capital management – Note 14 • Financial instruments risk management objectives and policies – Note 12.4 • Sensitivity analyses disclosures – Note 12.4.1 Estimates and assumptions The key assumptions about the future and other key sources of estimated uncertainty as of the reporting date that include a significant risk of a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances that arise and that are beyond the Company’s control. Such changes are reflected in the assumptions where they occur. Identification and fair-value measurement of assets and liabilities acquired in a business combination Business combinations are accounted for using the acquisition method. Such method requires recognizing and measuring the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree. The Company, as the acquirer, must classify or designate the identifiable assets and liabilities assumed on the basis of its own contractual terms, economic conditions, operating and accounting policies and other relevant conditions as at the acquisition date. Such assessment requires judgments from the Company on the methods used to determine the fair value of the assets acquired and liabilities assumed, including valuation techniques that may require prospective financial information inputs. Impairment of non-financial assets Impairment exists when the carrying value of an asset or cash generating unit (“CGU”) or group of CGUs exceeds its recoverable amount, defined as the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on data available from binding sales transactions, conducted at arm’s length, for similar assets or observable market prices less incremental costs of disposing of the asset. The value in use calculation is based on a discounted cash flow model (“DCF” model). The cash flows are derived from the budget for the next five years and do not include restructuring activities to which the Company has not yet committed or significant future investments that will enhance the performance of the assets of the CGU being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as to expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to goodwill and indefinite lived intangible assets recognized by the Company. The key assumptions used to determine the recoverable amount for each CGU, including a sensitivity analysis, are disclosed and further explained in Note 11. Share-based compensation Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option or appreciation right, volatility and dividend yield and making assumptions about them. For the measurement of the fair value of equity-settled transactions, the Company uses the Binomial model. As disclosed in Note 15 (b) the Company had stock plans that were fully exercised on July 31, 2019, for which the Monte Carlo and Black & Scholes pricing model were used for the Afya Brazil and Guardaya plans, respectively. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in Note 15 (b). Leases - Estimating the incremental borrowing rate The Company cannot readily determine the interest rate implicit in the lease, therefore, it uses its incremental borrowing rate (IBR) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBR therefore reflects what the Company ‘would have to pay’, which requires estimation when no observable rates are available (such as for subsidiaries that do not enter into financing transactions) or when they need to be adjusted to reflect the terms and conditions of the lease (for example, when leases are not in the subsidiary’s functional currency). The Company estimates the IBR using observable inputs (such as market interest rates) when available and is required to make certain entity-specific estimates.

4 Segment information

4 Segment information	12 Months Ended
	Dec. 31, 2020
Disclosure of operating segments [abstract]
Segment information	4 Segment information As a result of the corporate reorganization described in Note 1 which occurred on March 29, 2019, the Company has two reportable segments, as follows: • Education Services Segment (Business Unit 1), which provides educational services through undergraduate and graduate courses related to medicine, other health sciences and other undergraduate programs; and • Digital Content, Residency Preparatory and Specialization Programs Segment (Business Unit 2), which provides digital and printed medical content services, including online courses for residency preparatory, medical and other than medical post-graduate specialization programs and mobile app subscription for digital medical content. No operating segments have been aggregated to form the above reportable operating segments. There is only one geographic region and the results are monitored and evaluated as a single business. Segment information is presented consistently with the internal reports provided to the Company's Chief Executive Officer (CEO), which is the Chief Operating Decision Maker (CODM) and is responsible for allocating resources, assessing the performance of the Company's operating segments, and making the Company's strategic decisions. The following table presents assets and liabilities information for the Company's operating segments as of December 31, 2020: Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2020 Total assets 4,541,988 251,220 4,793,208 (115) 4,793,093 Current assets 1,280,342 125,274 1,405,616 (115) 1,405,501 Non-current assets 3,261,646 125,946 3,387,592 - 3,387,592 Total liabilities and equity 4,541,988 251,220 4,793,208 (115) 4,793,093 Current liabilities 522,522 66,972 589,494 (115) 589,379 Non-current liabilities 1,261,894 108,040 1,369,934 - 1,369,934 Equity 2,757,572 76,208 2,833,780 - 2,833,780 Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2020 Other disclosures Investments in associate 51,410 - 51,410 - 51,410 Capital expenditures (*) 82,916 26,565 109,481 - 109,481 (*) Capital expenditures consider the acquisitions of property and equipment and intangible assets. The following table presents statements of income for the Company's operating segments for the year ended December 31, 2020: Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total External costumer 1,002,461 198,730 1,201,191 - 1,201,191 Inter-segment - 1,619 1,619 (1,619) - Net revenue 1,002,461 200,349 1,202,810 (1,619) 1,201,191 Cost of services (381,964) (54,309) (436,273) 1,619 (434,654) Gross profit 620,497 146,040 766,537 - 766,537 General and administrative expenses (402,855) Other expenses, net (347) Operating profit 363,335 Finance income 62,290 Finance expenses (98,269) Share of income of associate 7,698 Income before income taxes 335,054 Income taxes expense (27,067) Net income 307,987 The following table presents assets and liabilities information for the Company's operating segments as of December 31, 2019: Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2019 Total assets 2,714,161 199,285 2,913,446 (993) 2,912,453 Current assets 1,026,857 85,901 1,112,758 (993) 1,111,765 Non-current assets 1,687,304 113,384 1,800,688 - 1,800,688 Total liabilities and equity 2,714,161 199,285 2,913,446 (993) 2,912,453 Current liabilities 312,303 21,919 334,222 (993) 333,229 Non-current liabilities 360,005 105,493 465,498 - 465,498 Equity 2,041,853 71,873 2,113,726 - 2,113,726 Unit 1 Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2019 Other disclosures Investments in associate 45,634 - 45,634 - 45,634 Capital expenditures (*) 167,427 8,282 175,709 - 175,709 (*) Capital expenditures consider the acquisitions of property and equipment and intangible assets, including the acquisition of IPEC licenses in the amount of R$ 108,000 (R$ 54,000 paid and included in the acquisition of intangible assets in the cash flows used in investing activities) as described in Note 11. The following table presents statements of income for the Company's operating segments for the year ended December 31, 2019: Unit 1 Unit 2 Total reportable segments Adjustments and eliminations * Total External costumer 653,760 96,870 750,630 - 750,630 Inter-segment - 3,880 3,880 (3,880) - Net revenue 653,760 100,750 754,510 (3,880) 750,630 Cost of services (279,066) (33,667) (312,733) 3,880 (308,853) Gross profit 374,694 67,083 441,777 - 441,777 General and administrative expenses (239,120) Other income, net 2,594 Operating profit 205,251 Finance income 51,689 Finance expenses (72,365) Share of income of associate 2,362 Income before income taxes 186,937 Income taxes expense (14,175) Net income 172,762 (*) These eliminations are related to sale transactions from Medcel to other entities in Business Unit 1. Seasonality of operations Business Unit 1's tuition revenues do not have significant fluctuations during the year. Business Unit 2's sales are concentrated in the first and last quarter of the year, as a result of enrollments at the beginning of the year. The majority of Business Unit 2's revenues is derived from printed books and e-books, which are recognized at the point in time when control is transferred to the customer. Consequently, Business Unit 2 generally has higher revenues and results of operations in the first and last quarter of the year compared to the second and third quarters of the year.

5 Business combinations

5 Business combinations	12 Months Ended
	Dec. 31, 2020
Business Combinations
Business combinations	5 Business combinations 5.1 Acquisitions in 2020 The preliminary fair values of the identifiable assets acquired and liabilities assumed as of each acquisition date were: UniRedentor* UniSL** PEBMED FESAR FCMPB MedPhone Assets Cash and cash and equivalents 11,796 3,245 1,119 4,236 100 60 Trade receivables 4,800 21,567 7,984 - 8,148 - Inventories - 467 - - - - Recoverable taxes 3 822 - - - - Other assets 2,486 7,251 161 42 123 9 Indemnification assets 710 12,645 12,350 6,871 - - Right-of-use assets 10,265 42,062 865 - 23,663 - Property and equipment 4,207 19,144 391 23,176 962 - Intangible assets 142,399 314,097 60,372 167,106 264,782 3,727 176,666 421,300 83,242 201,431 297,778 3,796 Liabilities Trade payables (746) (3,554) (9,024) (143) (173) - Loans and financing (16,187) (58,541) - (1,087) - - Lease liabilities (10,265) (42,062) (865) - (23,663) - Labor and social obligations (4,471) (8,070) (1,786) (1,801) (3,832) - Taxes payable (850) (5,779) (1,210) (29) (5) (2) Provision for legal proceedings (710) (12,645) (12,350) (6,871) - - Advances from customers (10,994) (6,084) (9,312) (759) (1,781) - Notes payable - (80,526) - - - - Other liabilities - (14,754) - - - (228) (44,223) (232,015) (34,547) (10,690) (29,454) (230) Total identifiable net assets at fair value 132,443 189,285 48,695 190,741 268,324 3,566 Preliminary goodwill arising on acquisition 77,662 4,420 84,175 71,664 110,483 2,843 Purchase consideration transferred 210,105 193,705 132,870 262,405 378,807 6,409 Cash paid 114,607 141,065 115,339 260,836 189,913 6,373 Payable in installments 95,498 52,640 - 1,569 188,894 36 Paid in Afya Brazil’s shares - - 17,531 - - - Analysis of cash flows on acquisition: Transaction costs (included in cash flows from operating activities) (1,380) (1,666) (613) (2,047) (721) (158) Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities) (102,811) (137,820) (114,220) (256,600) (189,813) (6,313) Net of cash flow on acquisition (104,191) (139,486) (114,833) (258,647) (190,534) (6,471) *During the measurement period, the preliminary goodwill for the acquisition of UniRedentor was adjusted to R$77,662 (R$90,282 initial goodwill) as a result of an increase of intangible assets from R$134,281 to R$142,399 and a purchase price consideration adjustment of R$ 4,503. **During the measurement period, the preliminary goodwill for the acquisition of UniSL was adjusted to R$4,422 (R$53,192 previously disclosed) as a result of (i) a purchase consideration decrease of R$7,816 and (ii) adjustments increasing intangible assets of R$ 40,961 and a decrease in property and equipment of R$7. (a) Acquisition of UniRedentor On January 31, 2020, Afya Brazil acquired 100% of the share capital of UniRedentor. The original purchase price of R$214,608, was adjusted by R$4,503 and was comprised by: i) R$114,607 paid in cash on the acquisition date; and ii) R$100,000 is payable in five equal installments from January 2021 to July 2024, adjusted by the CDI rate. The purchase consideration adjustment of R$4,503 will be deducted from the first installment due in January 2021. UniRedentor is a post-secondary education institution with governmental authorization to offer on-campus, undergraduate degrees and graduate programs in medicine and health, as well as other courses, in the State of Rio de Janeiro. The acquisition will contributed with 112 medical school seats, with a potential 44 additional medical school seats subject to the approval by MEC and is in line with the Company’s strategy to focus on medical education, including medical school. The acquisition of UniRedentor was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$1,380 and were expensed and are included in general and administrative expenses in the consolidated statement of income. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. Afya Brazil measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. Goodwill is allocated entirely to Business Unit 1 segment. The preliminary goodwill recognized is not expected to be deductible for income taxes purposes. The Company has not yet finalized the valuation of all identifiable assets acquired and liabilities assumed in the business combination of UniRedentor and therefore some of these amounts are preliminary. These amounts may be adjusted when the valuations are finalized. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. From the date of acquisition, this business combination has contributed R$ 10,509 of net revenue and R$ 3,570 of income before income taxes to the Company. FCMPB was constituted through a spin-off recently in August, 2020 and there is no information before this period to be presented. (b) Acquisition of UniSL On May 5, 2020, Afya Brazil acquired 100% of the total share capital of UniSL. UniSL is a post-secondary education institution with governmental authorization to offer on-campus, undergraduate courses in medicine and health, as well as other courses, in the State of Rondônia. UniSL also offers other medical related undergraduate degrees. The original purchase consideration of R$201,521 was adjusted by R$7,816, of which: (i) 70% is payable in cash on the transaction closing date, and (ii) 30% is payable in cash in three equal installments through 2023, adjusted by the CDI rate. The purchase consideration adjustment of R$7,816 will be deducted from the first installment due in May 2021. The acquisition contributed with 182 medical school seats. There are 100 additional seats still pending approval which, if approved by MEC, will result in a potential additional payment of up to R$80,000, adjusted by the CDI rate. Such potential additional payment has not been recognized as the approval of additional seats have not yet occurred and is contingent. The acquisition of UniSL was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$1,666 and were expensed and are included in general and administrative expenses in the consolidated statement of income. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. Afya Brazil measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. Goodwill is allocated entirely to Business Unit 1 segment. The preliminary goodwill recognized is not expected to be deductible for income taxes purposes. The Company has not yet finalized the valuation of all identifiable assets acquired and liabilities assumed in the business combination of UniSL and therefore some of these amounts are preliminary. These amounts may be adjusted when the valuations are finalized. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. From the date of acquisition, UniSL has contributed R$ 113,894 of net revenue and R$ 30,648 to the income before income taxes to the Company. If the acquisition had taken place at the beginning of the period, net revenue for 2020 would have been increased by R$ 57,477 and income before income taxes for 2020 would have been increased by R$ 9,455. (c) Acquisition of PEBMED On July 20, 2020, Afya Brazil acquired 100% of the share capital of PEBMED. The original purchase price of R$ 132,900 was adjusted by R$ 30 and was comprised by: i) R$115,339 paid in cash on the acquisition date; and ii) R$ 17,531 was paid with Afya Brazil’s shares which were afterwards contributed to the Company in exchange of issuance of 141,976 of its own shares. PEBMED offers content and clinical tools for healthcare professionals, including web portals and mobile apps With the integration of PEBMED into our platform, Afya will continue to expand offerings for the medical professionals now focusing in the interaction with the patient. The acquisition of PEBMED was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$ 613 and were expensed and are included in general and administrative expenses in the consolidated statement of income. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. Afya Brazil measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The preliminary goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. Goodwill is allocated entirely to Business Unit 2 segment. The preliminary goodwill recognized is not expected to be deductible for income taxes purposes. The Company has not yet finalized the valuation of all identifiable assets acquired and liabilities assumed in the business combination of PEBMED and therefore some of these amounts are preliminary. These amounts may be adjusted when the valuations are finalized. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief from royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. Developed technology intangible assets Replacement cost This methodology is based on the estimated cost of replacing the referred asset with a new one (acquisition or reconstruction), adjusted to reflect the losses in value resulting from the physical deterioration and the functional and economic obsolescence of that asset. From the date of acquisition, this business combination has contributed R$ 17,535 of net revenue and R$ 3,413 of income before income taxes to the Company. Should the acquisition had taken place at the beginning of the period, net revenue for 2020 would have been increased by R$ 17,452 and income before income taxes for 2020 would have been decreased by R$ 1,813. (d) Acquisition of FESAR On November 3, 2020, Afya Brazil acquired 100% of the share capital of FESAR. The aggregate purchase price was R$260,836, including the CDI rate adjustment from the signing date and the real state of the operation, estimated at R$ 17,397, of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$1,569 and was paid on February 25, 2021. FESAR is a post-secondary education institution with government authorization to offer on-campus, undergraduate courses in medicine and health, as well as other courses, in the State of Pará and medical course represents 70% of its 2019’s net revenue. The acquisition will contributed with 120 medical school seats. The acquisition of FESAR was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$2,047 and were expensed and are included in general and administrative expenses in the consolidated statement of income. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. The preliminary goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. Goodwill is allocated entirely to Business Unit 1 segment. The preliminary goodwill recognized is not expected to be deductible for income taxes purposes. The Company has not yet finalized the valuation of all identifiable assets acquired and liabilities assumed in the business combination of FESAR and therefore some of these amounts are preliminary. These amounts may be adjusted when the valuations are finalized. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. From the date of acquisition, this business combination has contributed R$ 6,280 of net revenue and R$ 3,751 of income before income taxes to the Company. Should the acquisition had taken place at the beginning of the period, net revenue for 2020 would have been increased by R$ 29,113 and income before income taxes for 2020 would have been increased by R$ 14,918. (e) Acquisition of MedPhone On November 4, 2020, Afya Brazil acquired 100% of the share capital of MedPhone. The net purchase price was R$6,373 of which 100% was paid in cash on the closing of the operation. The purchase price was adjusted to R$6,409, this price adjustment of R$ 36 was paid on February 2, 2021. MedPhone is a clinical decision and leaflet consultation app in Brazil, that helps physicians, medical students and other healthcare professionals to make faster and more accurate decisions on a daily basis. The acquisition of MedPhone was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$158 and were expensed and are included in general and administrative expenses in the consolidated statement of income. There are no trade receivables, right of use assets or lease liabilities associated with the acquisition of MedPhone. The preliminary goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. Goodwill is allocated entirely to Business Unit 2 segment. The preliminary goodwill recognized is not expected to be deductible for income taxes purposes. The Company has not yet finalized the valuation of all identifiable assets acquired and liabilities assumed in the business combination of MedPhone and therefore some of these amounts are preliminary. These amounts may be adjusted when the valuations are finalized. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief from royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. Developed technology intangible assets Replacement cost This methodology is based on the estimated cost of replacing the referred asset with a new one (acquisition or reconstruction), adjusted to reflect the losses in value resulting from the physical deterioration and the functional and economic obsolescence of that asset. From the date of acquisition, this business combination has contributed R$ 49 of net revenue and R$ 57 of loss before income taxes to the Company. Should the acquisition had taken place at the beginning of the period, net revenue for 2020 would have been increased by R$ 142 and income before income taxes for 2020 would have been decreased by R$ 46. (f) Acquisition of FCMPB On November 9, 2020, Afya Brazil acquired 100% of the share capital of FCMPB. The total net purchase price of R$379,913 was adjusted to Rincreased by R$ 142 and income before income taxes for 2020 would have been decreased by R$ 46.$378,807 and is comprised of (i) R$189,913 paid in cash on the transaction closing date, and (ii) R$188,894 is payable in cash in four equal installments through 2024, adjusted by the CDI rate. FCMPB is a post-secondary education institution with government authorization to offer on-campus, undergraduate courses in medicine in the State of Paraíba and medical course represents 99% of its 2019’s net revenue.The acquisition will contributed with 157 medical school seats The acquisition of FCMPB was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$721 and were expensed and are included in general and administrative expenses in the consolidated statement of income. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. Afya Brazil measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The preliminary goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. Goodwill is allocated entirely to Business Unit 1 segment. The preliminary goodwill recognized is not expected to be deductible for income taxes purposes. The Company has not yet finalized the valuation of all identifiable assets acquired and liabilities assumed in the business combination of FCMPB and therefore some of these amounts are preliminary. These amounts may be adjusted when the valuations are finalized. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. From the date of acquisition, this business combination has contributed R$ 10.509 of net revenue and R$ 3.570 of income before income taxes to the Company. FCMPB was constituted through a spin-off recently in August, 2020 and there is no information before this period to be presented. 5.2 Acquisitions in 2019 Guardaya FASA* IPEMED** Assets Cash and cash and equivalents 1,548 3,834 307 Restrict cash - 5,561 - Trade receivables 44,277 1,832 8,965 Inventories 2,581 - - Recoverable taxes 280 - - Other assets 489 458 3,266 Right-of-use assets 4,556 47,789 8,800 Property and equipment 1,594 22,946 3,676 Investment in associate 24,458 - - Intangible assets 59,977 171,511 33,039 139,760 253,931 58,053 Liabilities Trade payables (454) (1,133) (4,908) Loans and financing (4,076) (35,419) (3,592) Lease liabilities (4,607) (47,793) (8,965) Labor and social obligations (1,844) (5,254) (1,575) Taxes payable (3,571) (483) (26,503) Provision for legal proceedings (680) (1,684) (2,008) Advances from customers - (3,192) (607) Other liabilities (4,709) (460) - (19,941) (95,418) (48,158) Total identifiable net assets at fair value 119,819 158,513 9,895 Non-controlling interest - (15,851) - Goodwill arising on acquisition 139,294 58,903 87,647 Purchase consideration transferred 259,113 201,565 97,542 Cash paid - 102,330 52,239 Capital contribution 259,113 - - Payable in installments - 99,235 45,303 Analysis of cash flows on acquisition: Transaction costs (included in cash flows from operating activities) (482) (1,887) (180) Cash paid net of cash acquired with the subsidiary (included in cash flows from investing activities) 1,548 (98,496) (51,932) Net of cash flow on acquisition 1,066 (100,383) (52,112) *During the measurement period, the purchase consideration for the acquisition of FASA was adjusted by R$3,022 as a result of purchase price adjustments. Accordingly, goodwill was updated to R$58,903. ** During the measurement period of the assets acquired and liabilities assumed at the fair value, the Company has identified R$1,320 of indemnification assets, related to the acquisition of IPEMED. (a) Acquisition of Guardaya In connection with the corporate reorganization, on March 29, 2019, Afya Brazil merged (i) BR Health, a wholly-owned subsidiary of Crescera that controls Guardaya and is one of Afya Brazil's shareholders; and (ii) Guardaya which owns 100% of Medcel Editora and CBB Web, resulting in the transfer to Afya Brazil of 100% of Medcel Editora and CBB Web shares. In connection with the transaction 15% of UEPC's shares were acquired. Afya Brazil issued 378,696 common shares as a consideration for the interest in BR Health and Guardaya. The fair value of the consideration given was R$ 259,113. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations. Transaction costs to date amount to R$ 482 and were expensed and are included in general and administrative expenses in the consolidated statement of income. The goodwill recognized is primarily attributed to the expected synergies and other benefits arising from the transaction. The goodwill is not expected to be deductible for income tax purposes. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. Afya Brazil measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief-from-royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earning method The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets. Educational content Replacement cost This methodology is based on the estimate of the cost of replacing the asset with a new one (acquisition or reconstruction), adjusted to reflect the losses of value resulting from the physical deterioration and the economic functional obsolescence of the asset. This business combination contributed R$ 40,554 of net revenue and R$ 5,786 of income before income taxes to the Company in 2019. If the acquisition had taken place at the beginning of the period, net revenue for 2019 would have been R$ 75,238 and income before income taxes for 2019 would have been R$ 21,924. (b) Acquisition of FASA On April 3, 2019, Afya Brazil acquired control of FASA, through the acquisition of 90% of its shares. The purchase price of R$ 201,565 is comprised by: i) R$ 102,330 paid in cash on the acquisition date; ii) R$ 39,695 payable in April 2020; iii) R$ 29,770 payable in April 2021; and iv) R$ 29,770 payable in April 2022, adjusted by the IPCA rate + 4.1% per year. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations. There is no contingent consideration associated with the acquisition of FASA. Transaction costs to date amount to R$ 1,887 and were expensed and are included in general and administrative expenses in the consolidated statement of income. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. The Company measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. None of the goodwill recognized is expected to be deductible for income taxes purposes. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earning method The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets. FASA contributed R$ 69,996 of net revenue and R$ 16,501 of income before income taxes to the Company in 2019. If the acquisition had taken place at the beginning of the period, net revenue for 2019 would have been R$ 90,063 and income before income taxes for 2019 would have been R$ 16,872. (c) Acquisition of IPEMED On May 9, 2019, Afya Brazil acquired control of IPEMED, through the acquisition of 100% of its shares. IPEMED is a post-secondary education institution with campuses located in the states of Bahia, Minas Gerais, Rio de Janeiro, São Paulo and in the Distrito Federal. It focuses on medical graduate programs. The purchase price was R$ 97,542, being: i) R$ 25,000 paid in cash as advance through April 2019; ii) R$ 27,239 paid in cash on the acquisition date; iii) R$45,303 payable in five annual installments due from February 2020 to February 2024 adjusted by the Interbank Certificates of Deposit ("CDI") rate. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations. There are no contingent consideration associated with the acquisition of IPEMED. Transaction costs to date amount to R$ 180 and were expensed and are included in general and administrative expenses in the consolidated statement of income. The acquisition was completed recently and the valuation of property and equipment will be finalized at a later date, and the final allocation of the purchase price is dependent on a number of factors, including the final evaluation of the fair values of tangible and intangible assets acquired and liabilities assumed as of the closing date of the transaction. At the acquisition date, the fair value of the trade receivables acquired equals its carrying amount. The Company measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of- use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the unfavorable terms of the lease relative to market terms. The goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. None of the goodwill recognized is expected to be deductible for income taxes purposes. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief-from-royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. And it is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earning method The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets. IPEMED contributed R$ 43,244 of net revenue and R$ 10,735 of income before income taxes to the Company in 2019. If the acquisition had taken place at the beginning of the period, net revenue for 2019 would have been R$ 67,594 and income before income taxes for 2019 would have been R$ 6,808.

6 Cash and cash equivalents

6 Cash and cash equivalents	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash and cash equivalents	6 Cash and cash equivalents 2020 2019 Cash and bank deposits 57,729 13,092 Cash equivalents (a) 987,313 930,117 1,045,042 943,209 Cash equivalents correspond mainly to financial investments in Bank Certificates of Deposit (“CDB”) with highly rated financial institutions and investment funds managed by highly rated financial institutions. As of December 31, 2020, the average interest on these CDB are equivalent to 90.95% of the Interbank Certificates of Deposit (“CDI”) (December 31, 2019: 99.2%). These funds are available for immediate use and have insignificant risk of changes in value. Cash equivalents denominated in U.S. dollars totaled R$70,523 as of December 31, 2020 (December 31, 2019: R$2,529).

7 Trade receivables

7 Trade receivables	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Trade receivables	7 Trade receivables 2020 2019 Tuition fees 195,318 80,156 Educational content (a) 62,931 37,154 FIES 49,425 17,789 Educational credits 11,248 9,899 Mobile app subscription (b) 13,526 - Others 10,476 5,005 342,924 150,003 (-) Allowance for doubtful accounts (32,980) (14,763) 309,944 135,240 Current 302,317 125,439 Non-current 7,627 9,801 (a) Related to trade receivables from sales of printed books, e-books and medical courses through digital platform from Medcel. (b) Related to trade receivables from mobile applications subscriptions for digital medical content. As of December 31, 2020 and 2019, the aging of trade receivables was as follows: 2020 2019 Neither past due nor impaired 145,076 71,095 Past due 1 to 30 days 44,365 15,042 31 to 90 days 57,198 27,221 91 to 180 days 51,521 20,543 More than 180 days 44,764 16,102 342,924 150,003 The changes in the allowance for doubtful accounts for the years ended December 31, 2020, 2019 and 2018, was as follows: 2020 2019 2018 Balance at the beginning of the year (14,763) (7,537) (3,794) Additions (32,081) (15,040) (7,714) Write-offs 13,864 7,814 3,971 Balance at the end of the year (32,980) (14,763) (7,537)

8 Related parties

8 Related parties	12 Months Ended
	Dec. 31, 2020
Related party transactions [abstract]
Related parties	8 Related parties The table below summarizes the balances and transactions with related parties: 2020 2019 Assets Trade receivables (a) 174 557 Related parties (b) 421 - 595 557 Current 174 557 Non-current 421 - Other income 2020 2019 2018 IESVAP (c) - - 252 IPTAN (c) - - 882 UEPC (a) 104 557 - 104 557 1,134 Lease RVL Esteves Gestão Imobiliária S.A. 11,288 10,417 9,655 UNIVAÇO Patrimonial Ltda. 2,915 2,816 2,625 IESVAP Patrimonial Ltda. 3,470 2,609 1,274 17,673 15,842 13,554 (a) Refers to sales of educational content from Medcel to UEPC recorded in trade receivables (b) Amounts to be reimbursed by the shareholders to Afya Brazil, mainly related to payments of legal cost and advisory services recorded in other assets. (c) Refers to share services and corporate expenses provided by Afya Brazil to IPTAN and IESVAP for the periods prior to their acquisition on April 26, 2018 recorded in the consolidated statements of income. Lease agreements with RVL Esteves Gestão Imobiliária S.A. Afya Brazil has entered into lease agreements with RVL Esteves Gestão Imobiliária S.A. (“RVL”), an entity controlled by the shareholder Nicolau Carvalho Esteves and of which Mr. Renato Esteves is an executive officer, as described below: On June 21, 2016, RVL entered into lease agreements (as amended on April 26, 2018) with ITPAC – Instituto Tocantinense Presidente Antônio Carlos S.A., or ITPAC, and Itpac Porto Nacional – Instituto Tocantinense Presidente Antonio Carlos Porto S.A., or ITPAC Porto Nacional, pursuant to which RVL Esteves Gestão Imobiliária S.A. agreed to lease campuses to ITPAC and ITPAC Porto Nacional in the cities of Araguaína and Porto Nacional, both located in the State of Tocantins. The lease agreements are adjustable in accordance with the provisions of each lease agreement. The lease agreements are for an initial term of 20 years, and are renewable for an additional 20 years subject to the provisions of each lease agreement. On November 1, 2016, RVL entered into a lease agreement with Afya Brazil, pursuant to which RVL agreed to lease to Afya Brazil certain offices located in the city of Nova Lima, State of Minas Gerais, where Afya Brazil’s principal executive offices are located. On February 9, 2019 the agreement was amended to extend lease terms and adjust the lease amounts, subject to certain discount conditions set forth in the lease agreement and adjustable in accordance with the provisions of the lease agreement. The lease agreement is for an initial term of five years, and may be renewable for an additional five years subject to the provisions of the lease agreement. On September 6, 2018, RVL entered into a lease agreement with ITPAC, a subsidiary of Afya Brazil, pursuant to which RVL agreed to lease to ITPAC the new ITPAC campus currently under construction by RVL in the city of Palmas, State of Tocantins. The lease agreement is for an amount equal to 7.5% of the monthly net revenue of ITPAC during the prior semester, which will start to become due once the new ITPAC campus becomes operational, subject to the provisions of the lease agreement. The lease agreement is for an initial term of 20 years, starting on the date the new ITPAC campus becomes operational, and is renewable for an additional 20 years subject to the provisions of the lease agreement. On October 30, 2019, RVL entered into a lease agreement with IPTAN, pursuant to which RVL agreed to lease to IPTAN the new IPTAN medical campus, currently under construction by RVL in the city of Santa Inês, State of Maranhão. The lease agreement is for a monthly amount equal to (i) up to June 2020, R$12 and (ii) after June 2020 and until October 2024, 6.5% of the monthly net revenue of IPTAN assessed during the prior semester, in each case adjustable in accordance with the provisions of the lease agreement. The lease agreement is for an initial term of 5 years counted from the conclusion of the construction works, and may be renewable for an additional 5 years subject to the provisions of the lease agreement. The lease payments in connection with the lease agreements with RVL totaled R$11,288 and R$10,417 in the years ended December 31, 2020 and 2019, respectively. In the year ended December 31, 2018, the lease expenses in connection with the lease agreements with RVL totaled R$9,655. Lease agreement with UNIVAÇO Patrimonial Ltda. On July 14, 2016, UNIVAÇO Patrimonial Ltda., an entity controlled by the shareholder Nicolau Carvalho Esteves and of which Ms. Rosângela Esteves is the chief executive officer, entered into a lease agreement with UNIVAÇO, a subsidiary of Afya Brazil, pursuant to which UNIVAÇO Patrimonial Ltda. agreed to lease the UNIVAÇO campus to UNIVAÇO, located in the city of Ipatinga, State of Minas Gerais. The lease agreement is adjustable in accordance with the provisions of the lease agreement. The lease agreement is for an initial term of 20 years, and is renewable for an additional 20 years subject to the provisions of the lease agreement.The lease payments in connection with this lease agreement totaled R$2,915 and R$2,816 in the years ended December 31, 2020 and 2019, respectively. In the year ended December 31, 2018, the lease expenses in connection with this lease agreement totaled R$2,625. Lease agreement with IESVAP Patrimonial Ltda. On April 25, 2018, IESVAP Patrimonial Ltda., an entity controlled by the shareholder Nicolau Carvalho Esteves and of which Mr. Renato Esteves is an executive officer, entered into a lease agreement with IESVAP, a subsidiary of Afya Brazil, pursuant to which IESVAP Patrimonial Ltda. agreed to lease the IESVAP campus to IESVAP located in the city of Parnaíba, State of Piauí. The lease agreement is for an amount equal to 7.5% of the monthly net revenue of IESVAP during 2018. The lease agreement is for an initial term of 20 years, and is renewable for an additional 20 years subject to the provisions of the lease agreement. The lease payments in connection with this lease agreement totaled R$3,470 and R$2,609 in the years ended December 31, 2020 and 2019, respectively. In the year ended December 31, 2018, the lease expenses in connection with this lease agreement totaled R$1,274. Key management personnel compensation Key management personnel compensation included in the Company’s consolidated statement of income comprised the following: 2020 2019 2018 Short-term employee benefits 9,629 4,947 2,681 Share-based compensation plans 23,989 13,893 2,161 33,618 18,840 4,842 Compensation of the Company’s key management includes short-term employee benefits comprised by salaries, labor and social charges, and other ordinary short-term employee benefits. The amounts disclosed in the table are the amounts recognized as an expense in general and administrative expenses during the reporting period related to key management personnel. The executive officers participate in share-based compensation plans described in Note 15 (b).

9 Investment in associate

9 Investment in associate	12 Months Ended
	Dec. 31, 2020
Disclosure of associates [abstract]
Investment in associate	9 Investment in associate In connection with the corporate reorganization, described in Note 1 regarding the merger with BR Health, the Company acquired a 30% interest in UEPC, a medical school located in the Federal District, that offers higher education and post-graduate courses, both in person and long-distance learning. The Company’s interest in UEPC is accounted for using the equity method. The following table illustrates the summarized financial information of the Company’s investment in UEPC: December 31, 2020 December 31, 2019 Current assets 55,413 26,762 Non-current assets 82,575 77,031 Current liabilities (34,531) (29,328) Non-current liabilities (76,132) (66,294) Equity 27,325 8,171 Company’s share in equity – 30% 8,227 2,451 Goodwill 43,183 43,183 Carrying amount of the investment 51,410 45,634 Net revenue 113,965 85,816 Cost of services (55,926) (39,459) General and administrative expenses (27,341) (29,476) Finance result (4,882) (4,121) Income before income taxes 25,816 12,760 Income taxes expenses (252) (2,275) Net income for the year 25,564 10,485 Company’s share of income for the year 7,698 2,362 December 31, 2020 December 31, 2019 Opening balance 45,634 - Acquisition of minority interest (15%) in March 2019 - 24,458 Acquisition of additional minority interest (15%) in June 2019 - 24,457 Dividends receivable (included in Other assets) (1,922) (5,643) Share of income 7,698 2,362 Closing balance 51,410 45,634 The Company tests at least annually the recoverability of the carrying amount of goodwill and there was no impairment for this goodwill.

10 Property and equipment

10 Property and equipment	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Property and equipment	10 Property and equipment Cost Building Machinery and equipment Lands Vehicles Furniture and fixtures IT equipment Library books Laboratories and clinics Leasehold improvements Construction in progress Total As of January 1, 2018 - 20,135 - 120 8,357 6,494 10,016 - 7,094 1,187 53,403 Additions - 3,226 2,770 - 1,023 1,728 949 - 1,940 7,918 19,554 Transfer - - - - - - - 2,271 (2,271) - Business combinations - 7,142 - 62 2,517 2,021 1,873 597 577 3,902 18,691 As of December 31, 2018 - 30,503 2,770 182 11,897 10,243 12,838 597 11,882 10,736 91,648 Additions - 9,838 4,235 422 6,976 4,241 1,205 34 4,488 25,525 56,964 Transfers - - - - - (525) - - - - (525) Business combinations - 3,988 - 103 2,565 2,035 4,096 418 14,541 470 28,216 As of December 31, 2019 - 44,329 7,005 707 21,438 15,994 18,139 1,049 30,911 36,731 176,303 Additions - 13,806 672 - 4,550 9,657 1,012 - 54,748 5,387 89,832 Business combinations 6,771 8,973 5,724 508 3,061 2,493 2,473 - 12,787 5,090 47,880 Transfer 19,148 1,395 - - 82 367 - (1,049) 23,559 (43,502) - As of December 31, 2020 25,919 68,503 13,401 1,215 29,131 28,511 21,624 - 122,005 3,706 314,015 Depreciation As of January 1, 2018 - (7,810) - (49) (3,449) (3,472) (6,012) - (136) - (20,928) Depreciation - (1,886) - (10) (812) (1,017) (1,003) (27) (202) - (4,957) As of December 31, 2018 - (9,696) - (59) (4,261) (4,489) (7,015) (27) (338) - (25,885) Depreciation - (4,097) - - (1,629) (2,495) (1,648) (359) (1,317) - (11,545) Disposals - - - - - 447 - - - - 447 As of December 31, 2019 - (13,793) - (59) (5,890) (6,537) (8,663) (386) (1,655) - (36,983) Depreciation - (5,065) - (112) (2,199) (4,314) (2,154) (78) (2,729) - (16,651) Transfer - (464) - - - - - 464 - - - As of December 31, 2020 - (19,322) - (171) (8,089) (10,851) (10,817) - (4,384) - (53,634) Net book value As of December 31, 2020 25,919 49,181 13,401 1,044 21,042 17,660 10,807 - 117,621 3,706 260,381 As of December 31, 2019 - 30,536 7,005 648 15,548 9,457 9,476 663 29,256 36,731 139,320 The Company assesses, at each reporting date, whether there is an indication that a property and equipment asset may be impaired. If any indication exists, the Company estimates the asset’s recoverable amount. There were no indications of impairment of property and equipment as of and for the years ended December 31, 2020, 2019 and 2018.

11 Intangible assets and goodwi

11 Intangible assets and goodwill	12 Months Ended
	Dec. 31, 2020
Intangible assets and goodwill [abstract]
Intangible assets and goodwill	11 Intangible assets and goodwill Goodwill Licenses with indefinite useful life Trademarks Customer relationships Software Education content Developed technology Educational platform and software in progress Total Cost As of January 1, 2018 - - - - 6,633 - - - 6,633 Additions - - - - 1,301 - - 1,752 3,053 Business combinations 169,535 445,616 - 63,303 354 - - - 678,808 As of December 31, 2018 169,535 445,616 - 63,303 8,288 - - 1,752 688,494 Additions (i) (ii) 4,030 108,000 - - 1,101 - - 9,644 122,775 Business combinations 285,844 150,156 32,111 62,110 - 17,305 - 2,845 550,371 As of December 31, 2019 459,409 703,772 32,111 125,413 9,389 17,305 - 14,241 1,361,640 Additions - - - - 4,175 - - 15,474 19,649 Disposals - - - - (460) - - - (460) Business combinations 351,247 747,498 42,903 158,126 3,117 - 355 484 1,303,730 As of December 31, 2020 810,656 1,451,270 75,014 283,539 16,221 17,305 355 30,199 2,684,559 Amortization As of January 1, 2018 - - - - (1,904) - - - (1,904) Amortization - - - (2,945) (1,176) - - - (4,121) As of December 31, 2018 - - - (2,945) (3,080) - - - (6,025) Amortization - - (1,150) (34,927) (1,456) (4,876) - (868) (43,277) As of December 31, 2019 - - (1,150) (37,872) (4,536) (4,876) - (868) (49,302) Amortization - - (2,352) (47,960) (2,180) (2,816) (32) (7,367) (62,707) Disposals - - - - 460 - - - 460 As of December 31, 2020 - - (3,502) (85,832) (6,256) (7,692) (32) (8,235) (111,549) Net book value As of December 31, 2020 810,656 1,451,270 71,512 197,707 9,965 9,613 323 21,964 2,573,010 As of December 31, 2019 459,409 703,772 30,961 87,541 4,853 12,429 - 13,373 1,312,338 (i) The amount of R$4,030 added to goodwill relates to adjustments during the measurement period of the business combination of IESP in respect to amounts to be included as part of the purchase price allocation at acquisition date mainly related to impairment of receivables. (ii) On August 13, 2019, Afya Brazil entered into a purchase agreement with the shareholders of IPEC for the acquisition of 100% of IPEC. IPEC was a non-operational postsecondary education institution with governmental authorization to offer on-campus post-secondary undergraduate courses in medicine in the State of Pará, that commenced its operation in September 2019. Prior to the acquisition date, IPEC has no significant assets and liabilities. The purchase price of R$ 108,000 is comprised of: i) R$ 54,000 paid in cash on the acquisition date; ii) R$ 54,000 is payable in two equal instalments of R$ 27,000 payable annually from August 13, 2020 to August 13, 2021, and adjusted by the CDI rate. The instalment due in August 2020 was paid in the total amount of R$28,104. Licenses with indefinite useful life include intangible assets acquired through business combinations. The licenses for medicine and other courses granted by the Ministry of Education (“MEC”) to the companies acquired have no expiration date and the Company has determined that these assets have indefinite useful lives. For impairment testing goodwill and licenses with indefinite useful lives acquired through business combinations are allocated to CGUs. The Company performed its annual impairment test on December 31, 2020 and 2019. The Company tests at least annually the recoverability of the carrying amount of goodwill and licenses with indefinite useful lives for each CGU. The process of estimating these values involves the use of assumptions, judgments and estimates of future cash flows that represent the Company's best estimate. There was no impairment for goodwill and licenses with indefinite useful lives as of December 31, 2020, 2019 and 2018. The carrying amounts of goodwill and licenses with indefinite useful life by CGU and their value in use and the discount rates used for the impairment assessment as of December 31, 2020 and 2019 was: Carrying amount CGU Goodwill Licenses with indefinite useful life CGU 2020 2019 2020 2019 2020 2019 IPTAN 17,446 17,446 57,214 57,214 126,397 110,224 IESVAP 27,956 27,956 81,366 81,366 112,898 119,129 CCSI 4,664 4,664 56,737 56,737 48,411 68,354 IESP 73,838 73,838 179,693 179,693 380,410 251,364 FADEP 49,661 49,661 70,606 70,606 160,787 133,996 Medcel and CBBW* 139,294 139,294 - - 219,359 213,881 FASA 58,903 58,903 144,507 150,156 267,279 227,271 ESMC - - 5,649 - 7,230 - IPEMED 87,647 87,647 - - 119,227 106,924 IPEC - - 108,000 108,000 122,325 106,964 UniRedentor 77,662 - 121,477 - 253,370 - UniSL 4,420 - 249,387 - 258,234 - PEBMED 84,175 - - - 143,328 - FESAR 71,664 - 141,616 - 263,914 - FCMPB 110,483 - 235,018 - 380,682 - Medphone 2,843 - - - 6,477 - *CBBW as merged by Medcel on May 1, 2020. The main assumptions used by the Company to determine the value in use of the CGUs were: Student enrollment Tuition fees Occupancy rate students effectively enrolled divided by the regulatory capacity in a given period. Regulatory capacity Faculty – Digital content platform users Discount rates: Significant estimate: impact of possible changes in key assumptions An increase of 13 basis points in management’s estimated discount rate applied to the cash flow projections of each CGU for the year ended December 31, 2020, or a decrease of 50 basis points on estimated EBITDA would have not resulted in significant impacts on these financial statements. Other intangible assets Intangible assets, other than goodwill and licenses with indefinite useful lives, are valued separately for each acquisition and are amortized during each useful life. The useful lives and methods of amortization of other intangibles are reviewed at each financial year end and adjusted prospectively, if appropriate. The estimated useful lives of intangible assets are as follows: Customer relationships – medicine 6 years Customer relationships – other courses 4.5 years Software license 5 years Education content 3 years Trademarks 19 - 20 years Developed technology 5 years For the years ended December 31, 2020, 2019 and 2018, there were no indicatives that the Company’s intangible assets with finite useful lives might be impaired.

12 Financial assets and financi

12 Financial assets and financial liabilities	12 Months Ended
	Dec. 31, 2020
Financial Assets And Financial Liabilities
Financial assets and financial liabilities	12 Financial assets and financial liabilities 12.1 Financial assets Financial assets 2020 2019 At amortized cost Cash and cash equivalents 1,045,042 943,209 Restricted cash 2,053 16,841 Trade receivables 309,944 135,240 Total 1,357,039 1,095,290 Current 1,347,359 1,083,436 Non-current 9,680 11,854 12.2 Financial liabilities Financial liabilities 2020 2019 At amortized cost Trade payables 35,743 17,628 Loans and financing 617,485 60,357 Lease liabilities 447,703 284,515 Accounts payable to selling shareholders 518,240 300,237 Notes payable 76,181 - Advances from customers 63,839 36,860 Total 1,759,191 699,597 Current 467,643 262,671 Non-current 1,291,548 436,926 Derivatives not designated as hedging instruments Cross-currency interest rate swaps - 757 Total - 757 Current - 757 Non-current - - Debt instruments at amortized cost include trade receivables and receivables from related parties. Financial assets at amortized cost also include cash and cash equivalents and restricted cash. Derivatives not designated as hedging instruments reflect the positive change in fair value of cross-currency interest rate swaps that are not designated in hedge relationships, but are intended to mitigate the foreign currency risk for the loan denominated in Euros. 12.2.1 Loans and financing Financial institution Currency Interest rate Maturity 2020 2019 Itaú Unibanco S.A. (e) Euro 1.01% p.y. 2020 - 52,959 Itaú Unibanco S.A. Brazilian real 1.22% a 1.26% p.m. 2020 - 648 FINEP (d) Brazilian real TJLP p.y. 2027 10,864 6,750 BNDES (c) Brazilian real 10.03% p.y. 2024 471 - Banco Votorantim (b) Brazilian real CDI + 1.65% p.y. 2021 101,785 - Itaú Unibanco S.A. (a) Brazilian real CDI + 1.62% p.y. 2023 504,365 - 617,485 60,357 Current 107,162 53,607 Non-current 510,323 6,750 (a) On October 1, 2020, Afya Brazil entered into a loan with Banco Itaú Unibanco S.A. in the amount of R$ 500,000 adjusted by the CDI rate plus (b) On July 3, 2020, Afya Brazil entered into a loan agreement with Banco Votorantim S.A. in the amount of R$ 100,000 adjusted by the CDI rate plus an interest rate of 1.65% per year and is repayable at maturity on July 5, 2021. (c) On May 5, 2020, as a result of the acquisition of UniSL, the Company assumed loans agreements BNDES which has an interest rate of 10.03% per year and maturity in 2024. (d) On July 23, 2019, Medcel entered into a loan of R$ 16,153 with Financiadora de Estudos e Projetos (“FINEP”), a governmental agency focused on financing investments on R&D, which has an interest rate based on TJLP (Long term interest rate), 2019 and maturity in 2027. The first and second tranches of R$6,734 and R$4,130, respectively, were drawdown in October 2019 and December 2020, respectively, in order to develop the Medical web series and other digital content. There is no financial covenant related to this agreement. The loan is guaranteed by bank warranty in the amount of R$ 10,864. (e) On November 16, 2018, Afya Brazil entered into a euro-denominated loan agreement with Itaú Unibanco S.A. in the amount of R$ 74,980 (equivalent to €17,500). The loan accrues interest at 1.01% per annum and is repayable in three equal installments on November 18, 2019, May 18, 2020 and November 12, 2020. The loan agreement contains a financial covenant requiring Afya Brazil to maintain a Net Debt to EBITDA ratio less or equal to: 2.2x at end of 2018 and 2019 and 1.8x at the end of 2020. The loan was guaranteed by financial investments, classified as restricted cash, in the amount of R$14,788 as of December 31, 2019. This loan was repaid on November 12, 2020. Fair value Cross-currency interest rate swap agreements Principal amount (notional) 2020 2019 Asset position: Euros + 1.01% p.y. 49,165 - 53,045 Liability position: 128% of CDI (49,165) - (53,802) Net position – assets (liabilities) - (757) Current assets (liabilities) - (757) Noncurrent assets (liabilities) - - 12.2.2 Leases The Company adopted IFRS 16 using the modified retrospective method of adoption with the date of initial application of January 1, 2019. The Company has lease contracts for properties. The maturity of the lease contracts generally have lease terms between 5 and 30 years. There are no sublease and variable payments in-substance lease agreements in the period. Set out below are the carrying amounts of right-of-use assets and lease liabilities and the movements during the period: Right-of-use assets Lease liabilities As at January 1, 2019 212,360 212,360 Additions 19,100 19,100 Business combinations 61,145 61,365 Depreciation expense (18,330) - Interest expense - 31,469 Payments of lease liabilities - (39,779) As at December 31, 2019 274,275 284,515 Additions 64,743 64,743 Remeasurement 34,161 34,161 Business combinations 76,855 76,855 Depreciation expense (29,386) - Interest expense - 44,458 Payments of lease liabilities - (55,455) Disposals (1,574) (1,574) As at December 31, 2020 419,074 447,703 As at December 31, 2019 Current - 22,693 Non-current 274,275 261,822 As at December 31, 2020 Current - 61,976 Non-current 419,074 385,727 The Company recognized lease expense from short-term leases and low-value assets of R$ 2,555 for the year ended December 31, 2020 (R$ 4,494 for the year ended December 31, 2019). 12.2.3 Accounts payable to selling shareholders 2020 2019 - Acquisition of IESP (a) 38,771 75,450 Acquisition of FADEP (b) - 18,745 Acquisition of FASA (c) 70,356 105,306 Acquisition of IPEMED (d) 38,622 45,646 Acquisition of IPEC (e) 28,307 55,090 Acquisition of UniRedentor (f) 97,773 - Acquisition of UniSL (g) 53,386 - Acquisition of FCMPB (h) 189,420 - Acquisition of FESAR (i) 1,569 - Acquisition of MedPhone (j) 36 - 518,240 300,237 Current 188,420 131,883 Non-current 329,820 168,354 2020 2019 2018 Opening balance 300,237 177,730 - Cash flows (134,518) (92,688) - Acquisition of IPEC - 54,000 - Interest 13,884 17,977 1,687 Business combinations 343,140 144,538 176,043 Compensation of legal proceedings disbursement (4,503) (1,320) - Closing balance 518,240 300,237 177,730 (a) On November 27, 2018, Afya Brazil acquired 80% of IESP and the amounts of (i) R$8,906 was paid in February 2019, and (ii) R$106,200 is payable in three equal installments of R$35,400, each adjusted by the CDI rate through the payment date. The first and second installments were paid in November 2019 and 2020, respectively, and the remaining installment is due by the end of the third year from the transaction closing date. (b) On December 5, 2018, Afya Brazil acquired 100% of FADEP and the amount of R$52,846 is payable in three equal installments of R$17,615, each adjusted by the SELIC rate through the payment date and due semiannually from the transaction closing date. The first installment was paid in June 2019, the second installment was paid in December 2019, and the last installment was paid in June 2020. (c) On April 3, 2019, Afya Brazil acquired 90% of FASA and R$ 39,695 was paid in April 2020, R$ 29,770 is payable in April 2021, and R$ 29,770 is payable in April 2022; each adjusted by the IPCA rate + 4.1% per year. (d) On May 9, 2019, Afya Brazil acquired 100% of IPEMED and R$ 45,303 is payable in five equal installments of R$ 9,061, adjusted by the CDI rate, and due annually in February 2020, 2021, 2022, 2023 and 2024. (e) On August 13, 2019, Afya Brazil acquired 100% of IPEC and R$54,000 was paid in cash on the transaction closing date, and (ii) R$54,000 is payable in two equal installments, adjusted by the CDI rate, and due annually at the end of the first and the second year from the transaction closing date. (f) On January 31, 2020, Afya Brazil acquired 100% of UniRedentor and R$ 114,607 was paid in cash on the transaction closing date, and the original amount of R$100,000 is payable in five equal installments from January 2021 through July 2024, adjusted by the CDI rate. The purchase consideration was adjusted by R$4,503 and such amount will be deducted from the first installment due in January 2021. (g) On May 5, 2020, Afya Brazil acquired 100% of UniSL. The purchase consideration is R$201,521, of which: R$ 141,065 was paid in cash on the transaction closing date, and R$ 60,456 is payable in three equal installments through May 2023, adjusted by the CDI rate. The purchase consideration was adjusted by R$7,816 and such amount will be deducted from the first installment due in May 2021. (h) On November 9, 2020, Afya Brazil acquired 100% of FCMPB. The net purchase price of R$379,913 was adjusted to R$378,807 , of which: R$ 189, was paid in cash on the transaction closing date, and R$ 188,894 is payable in four installments through November 2024, adjusted by the CDI rate. (i) On November 3, 2020, Afya Brazil acquired 100% of the share capital of FESAR. The aggregate purchase price was R$260,836, including the CDI rate adjustment from the singing and the real state of the operation, estimated at R$ 17,397, of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$1,569 and was paid on February 25, 2021. (j) On November 4, 2020, Afya Brazil acquired 100% of the share capital of MedPhone. The net purchase price was R$6,373 of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$36 and was paid on February 2, 2021. 12.2.4 Notes payable With the acquisition of UniSL, Afya Brazil assumed notes payable regarding the previous acquisition of a portion of the operations of Universidade Luterana do Brasil (ULBRA) by UniSL in auction by the end of 2018. Two of the UniSL campuses, located in the cities of Ji-Paraná and Porto Velho in the State of Rondônia, were acquired in such transaction. As at December 31, 2020, notes payable of R$ 76,181, has a final maturity in 2023 and is adjusted by 100% of IPCA-E. Set out below are the carrying amount of notes payable and the movements during the period: Notes payable As at January 1, 2020 - Business combination 80,526 Payments (5,974) Monetary indexation 1,629 As at December 31, 2020 76,181 Current liabilities 10,503 Non-current liabilities 65,678 12.3 Fair values The table below is a comparison of the carrying amounts and fair values of the Company’s financial instruments, other than those carrying amounts that are reasonable approximation of fair values: 2020 2019 Carrying amount Fair value Carrying amount Fair value Financial assets Restricted cash 2,053 2,053 16,841 16,841 Trade receivables (non-current) 7,627 7,627 9,801 9,801 Total 9,680 9,680 26,642 26,642 Financial liabilities Loans and financing 617,485 637,723 60,357 60,443 Lease liabilities 447,703 447,703 284,515 284,515 Accounts payable to selling shareholders 518,240 518,240 300,237 300,237 Notes payable 76,181 76,181 - - Derivatives - - 757 757 Total 1,659,609 1,679,847 645,866 645,952 The Company assessed that the fair values of cash and cash equivalents, restricted cash, trade receivables, other assets, trade payables, advances from customers and other liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments. Derivatives not designated as hedging instruments are recorded at fair value. The fair value of interest-bearing borrowings and loans are determined by using the DCF method using discount rate that reflects the issuer’s borrowing rate as at the end of the reporting period. The own non-performance risk at December 31, 2020 was assessed to be insignificant. 12.4.Financial instruments risk management objectives and policies The Company’s principal financial liabilities, other than derivatives, comprise loans and financing, accounts payable to selling shareholders, trade payables and advances from customers. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include trade receivables, cash and cash equivalents and financial investments classified as restricted cash that derive directly from its operations. The Company has also entered into derivative transactions to protect its exposure to foreign currency risk. The Company is exposed to market risk, credit risk and liquidity risk. The Company monitors market, credit and operational risks in line with the objectives in capital management and counts with the support, monitoring and oversight of the Board of Directors in decisions related to capital management and its alignment with the objectives and risks. The Company’s policy is that no trading of derivatives for speculative purposes may be undertaken. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below. 12.4.1 Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The Company’s exposure to market risk is related to interest rate risk and foreign currency risk. The sensitivity analysis in the following sections relate to the position as at December 31, 2020. (i) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s cash equivalents and financial investments classified as restricted cash with floating interest rates and accounts payable to selling shareholders. Sensitivity analysis The following table demonstrates the sensitivity to a reasonably possible change in the current interest rates on cash equivalents, restricted cash, loans and financing and derivatives and accounts payable to selling shareholders. With all variables held constant, the Company’s income before income taxes is affected through the impact on floating interest rate, as follows: Increase / decrease in basis points Balance as of 12/31/2020 Index – % per year Base rate +75 -75 +150 -150 Cash equivalents 916,790 90.95% CDI 15,843 6,876 (6,876) 13,752 (13,752) Restricted cash 2,053 76.10% CDI 30 15 (15) 31 (31) Loans and financing (10,864) TJLP p.y. (494) (81) 81 (163) 163 Loans and financing (101,785) 1.65%+100%CDI (3,613) (763) 763 (1,527) 1,527 Loans and financing (504,365) 1.62%+CDI (17,754) (3,783) 3,783 (7,565) 7,565 Accounts payable to selling shareholders (447,848) CDI (8,510) (3,359) 3,359 (6,718) 6,718 Accounts payable to selling shareholders (70,356) IPCA+4.1% (2,894) (528) 528 (1,055) 1,055 Notes payable (76,181) IPCA (1,028) (571) 571 (1,143) 1,143 (ii) Foreign currency risk Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company’s exposure to the risk of changes in foreign exchange rates relates to cash and cash equivalents denominated in U.S. dollars in the amount of R$70,523 as of December 31, 2020 (December 31, 2019: R$2,529). Foreign currency sensitivity The following table demonstrates the sensitivity in the Company’s income before income taxes of a 10% change in the U.S. dollar exchange rate (R$5.1961 to U.S. dollar 1.00) as of December 31, 2020 and 2019, with all other variables held constant. Exposure +10% -10% As of December 31, 2020 Cash and cash equivalents 70,523 7,052 (7,052) 12.4.2 Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including cash and cash equivalents and restricted cash. Customer credit risk is managed by the Company based on the established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. See Note 7 for additional information on the Company’s trade receivables. Credit risk from balances with banks and financial institutions is management by the Company’s treasury department in accordance with the Company’s policy. Investments of surplus funds are made only with approved counterparties and within limits assigned to each counterparty. The Company’s maximum exposure to credit risk for the components of the statement of financial position at December 31, 2020 and 2019 is the carrying amounts of its financial assets. 12.4.3 Liquidity risk The Company’s Management has responsibility for monitor liquidity risk. In order to achieve the Company’s objective, Management regularly reviews the risk and maintains appropriate reserves, including bank credit facilities with first tier financial institutions. Management also continuously monitors projected and actual cash flows and the combination of the maturity profiles of the financial assets and liabilities. The main requirements for financial resources used by the Company arise from the need to make payments for suppliers, operating expenses, labor and social obligations, loans and financing and accounts payable to selling shareholders. The tables below summarize the maturity profile of the Company’s financial liabilities based on contractual undiscounted amounts: As of December 31, 2020 Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Total Trade payables 35,743 - - - 35,743 Loans and financing 125,137 566,157 4,010 3,094 698,398 Lease liabilities 63,092 131,225 124,114 705,115 1,023,546 Accounts payable to selling shareholders 191,145 262,340 81,153 - 534,638 Notes payable 11,083 83,803 - - 94,886 Advances from customers 63,839 - - - 63,839 490,039 1,043,525 209,277 708,209 2,451,050 As of December 31, 2019 Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Total Trade payables 17,628 - - - 17,628 Loans and financing 54,507 3,537 2,517 1,926 62,487 Lease liabilities 44,139 81,326 76,013 502,831 704,309 Accounts payable to selling shareholders 137,608 182,535 12,072 - 332,215 Advances from customers 36,860 - - - 36,860 Derivatives 757 - - - 757 291,499 267,398 90,602 504,757 1,154,256 12.5 Changes In liabilities arising from financing activities January 1, 2020 Payments Addition / Remeasurement Interest Foreign exchange movement Business combination Other December 31, 2020 Loans and financing 60,357 (155,090) 605,041 10,031 21,279 75,815 52 617,485 Lease liabilities 284,515 (55,455) 98,904 44,458 - 76,855 (1,574) 447,703 Dividends payable - (12,984) 12,984 - - - - - Total 344,872 (223,529) 716,929 54,489 21,279 152,670 (1,522) 1,065,188 January 1, 2019 Payments Addition / Remeasurement Interest Foreign exchange movement Business combination Other December 31, 2019 Loans and financing 77,829 (75,093) 7,383 6,025 1,126 43,087 - 60,357 Lease liabilities 212,360 (39,779) 19,100 31,469 - 61,365 - 284,515 Dividends payable 4,107 (51,812) 51,812 - - - (4,107) - Total 294,296 (166,684) 78,295 37,494 1,126 104,452 (4,107) 344,872 January 1, 2018 Payments Addition / Remeasurement Interest Foreign exchange movement Business combination Other December 31, 2018 Loans and financing 3,823 (6,492) 74,980 2,821 2,697 - - 77,829 Related parties 106 (106) - - - - - - Dividends payable 14,888 (5,845) - - - - (4,936) 4,107 Total 18,817 (12,443) 74,980 2,821 2,697 - (4,936) 81,936

13 Fair value measurement

13 Fair value measurement	12 Months Ended
	Dec. 31, 2020
Changes in fair value measurement, assets [abstract]
Fair value measurement	13 Fair value measurement The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities as of December 31, 2020 and 2019. Fair value measurement Total Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) December 31, 2020 Assets for which fair values are disclosed Trade receivable (non-current) 7,627 - 7,627 - Restricted Cash 2,053 - 2,053 - Liabilities for which fair values are disclosed Loans and financing (637,723) - (637,723) - Lease liabilities (447,703) - (447,703) - Accounts payable to selling shareholders (518,240) - (518,240) - Notes payable (76,181) - (76,181) - December 31, 2019 Liabilities measured at fair value: Derivative financial liabilities Cross-currency interest rate swaps (757) - (757) - Assets for which fair values are disclosed Restricted cash 16,841 - 16,841 - Trade Receivable (non-current) 9,801 - 9,801 - Liabilities for which fair values are disclosed Loans and financing (60,443) - (60,443) - Lease liabilities (284,515) (284,515) Accounts payable to selling shareholders (300,237) - (300,237) - There were no transfers between Level 1 and Level 2 during 2020 and 2019.

14 Capital management

14 Capital management	12 Months Ended
	Dec. 31, 2020
Capital Management
Capital management	14 Capital management For the purposes of the Company’s capital management, capital considers total equity. The primary objective of the Company’s capital management is to maximize the shareholder value. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and to maintain and adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using net debt and total equity. The Company includes within net debt, loans and financing less cash and cash equivalents and restricted cash. 2020 2019 Loans and financing 617,485 60,357 Lease liabilities 447,703 284,515 Accounts payable to selling shareholders 518,240 300,237 Notes payable 76,181 - Less: cash and cash equivalents (1,045,042) (943,209) Less: restricted cash (2,053) (16,841) Net debt 612,514 (314,941) Total equity 2,833,780 2,113,726 Total equity and net debt 3,446,294 1,798,785 No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2020 and 2019.

15 Labor and social obligations

15 Labor and social obligations	12 Months Ended
	Dec. 31, 2020
Labor And Social Obligations
Labor and social obligations	15 Labor and social obligations a) Variable compensation (bonuses) The Company recorded bonuses related to variable compensation of employees and management in cost of services and general and administrative expenses of R$ 9,514, R$ 6,871 and R$1,945 for the years ended December 31, 2020, 2019 and 2018, respectively. b) Share-based compensation plans b.1) Share-based compensation plans exercised in 2019 The fair value of the stock options was estimated at the grant date using the Monte Carlo pricing model for Afya Brazil and Black & Scholes pricing model for the Guardaya’s plan, taking into account the terms and conditions on which the stock options were granted. The exercise price of the stock options granted was monetarily adjusted by the CDI rate. The Company accounted for the stock options plan as an equity-settled plan. The stock options granted in June 2018 had the following vesting periods after the grant date: 10% after 90 days, 15% after 12 months, 25% after 24 months, 25% after 36 months and 25% after 48 months. The stock options granted in February 2019 had the following vesting periods after the grant date: 10% after 90 days, 15% after 15 months, 25% after 27 months, 25% after 39 months and 25% after 51 months. The Guardaya’s stock options had the following vesting periods: 10% after 1 year, 15% after 2 years, 25% after 3 years and 50% after 4 years. The stock options vest immediately at the following liquidity events: (i) an IPO, (ii) changes in the Company’s control group; and (iii) sale of Crescera’s interest on Afya Brazil. On July 18, 2019, Afya Limited completed its IPO and the stock options became vested. The following table list the inputs to the model used to determine the fair value of the stock options: 05/15/2018 02/07/2019 03/29/2019* Weighted average fair value at the measurement date R$ 366.16 R$ 529.12 R$ 684.22 Dividend yield (%) 0.0% 0.0% 0.0% Expected volatility (%) 49.5% 45.5% 43.7% Risk-free interest rate (%) 7.7% 7.6% 7.2% Expected life of stock options (years) 4.0 4.0 4.0 Weighted average share price R$254.13 R$ 368.41 R$ 213.35 Model used Monte Carlo Monte Carlo Black & Scholes *After the corporate reorganization described in Note 1, the options originally granted under the Guardaya’s plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazil’s plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization. The stock options became vested immediately as a result of the IPO mentioned in Note 1 and was fully exercised on July 31,2019 at Afya Limited.The share-based compensation expense recognized in general and administrative expenses in the statement of income for the year ended December 31, 2019 related to these stock option plans was R$ 7,074 (R$ 2,161 for the year ended December 31, 2018). In September, 2019, as a result of the IPO mentioned in Note 1, the Company had a capital increase through the issuance of 1,842,428 Class A common shares in the amount of R$ 17,627 related to the exercise of the stock options. The following table illustrates the number and movements in stock options during the periods: Number of stock options (i) – 2019 Number of stock options (i) – 2018 Outstanding at January 1 1,291,248 - Granted 293,860 1,434,720 Forfeited - - Addition of Guardaya’s plan 257,320 - Exercised (1,842,428) (143,472) Expired - - Outstanding at December 31 - 1,291,248 (i) The number of common shares outstanding from Afya Brazil was retrospectively adjusted in the proportion of 1:28 due to the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya, which did not result in changes on the arrangements of the plans. b.2) Afya Limited share-based compensation plan The stock options plan approved on August 30, 2019 as a result of the IPO will govern the issuance of equity incentive awards with respect to Company’s Class A common shares. On September 2, 2019 and September 25, 2019, the Company granted 2,306,213 and 58,000 stock options, respectively. The fair value of the stock options was estimated at the grant date using the Binomial pricing model, taking into account the terms and conditions on which the stock options were granted. The Company accounts for the stock options plan as an equity-settled plan. The stock options will vest in five installments of 20% per year, starting on May 1 of the year following the date of execution of the option agreement with each beneficiary. On March 19, 2020, 230,000 additional stock options were granted, with an exercise price of US$19.00 each. These stock options will vest in four annual installments, representing each, respectively, 25% of the total stock options granted to such option holder. On July 29, 2020, the board of directors approved a change in the strike price of the current share-based compensation plan. The strike price is now measured in Brazilian Reais (where the Company’s operations are located and valuated) adjusted by CDI rate instead of U.S. dollar adjusted by T-Bond. Furthermore, the first tranche had its vesting period extended from May 2020 to May 2021, including one year lock-up period after the vesting period. This change was assessed as a modification by the Company and was accounted in accordance with IFRS 2. As result, the expense related to the share-based payment of the Company reflects the cost of the original award at grant date over the vesting period plus the incremental fair value of the repriced options at modification date (R$11.53 average per option, in Brazilian Reais) over the vesting period of the options. On August 17, 2020, 127,000 additional stock options were granted, with an exercise price of R$74 and R$122 (in Brazilian Reais). These stock options will vest in 3 to 5 annual installments. On November 26, 2020, 115,000 additional stock options were granted, with an exercise price of R$126 (in Brazilian Reais). These stock options will vest in 5 annual installments. On December 16, 2020, 5,220 additional stock options were granted, with an exercise price of R$97 (in Brazilian Reais). These stock options will vest in 1 annual installment. The share-based compensation expense, including the incremental fair value as result of the modification, recognized in general and administrative expenses in the statement of income for the year ended December 31, 2020 was R$ 32,610 (December 31, 2019: R$ 11,040). The following table illustrates the number and movements in stock options during the period: Weighted average exercise price (in Reais) Number of stock options 2020 2019 Outstanding at January 1 74.53 2,364,214 - Granted 94.55 477,220 2,364,214 Forfeited 74.57 (274,359) - Exercised 96.20 (56,092) - Expired - - Outstanding at December 31 78.22 2,510,983 2,364,214 The following table list the inputs to the model used to determine the original fair value of the stock options granted in March 2020 and September 2019: March 2020 September 2019 Strike price at the measurement date US$ 19.00 US$ 19.00 Dividend yield (%) 0.0% 0.0% Expected volatility (%) 39.7% 38.9% Risk-free interest rate (%) 0.8% 1.4% Expected life of stock options (years) 4.0 5.0 Share price at the measurement date US$ 16.30 US$ 21.90 Model used Binomial Binomial Weighted average fair value at the measurement date US$ 3.94 US$ 6.55 On July 29, 2020 the stock options plans granted in September 2019 and March 2020 was remeasured considering the new strike price in Brazilian Reais. The strike price was previously measured at US$ 19.00 adjusted by T-Bond rates. The average incremental fair value, as result of the modification, was R$ 15.94 per option. The following table list the inputs to the model used to determine the incremental fair value of the stock options as result of the modification: Modified plan Original plan (*) Strike price at the measurement date R$ 74.38 R$ 99.09 Dividend yield (%) 0.0% 0.0% Expected volatility (%) 41% - 76% 42% - 76% Risk-free interest rate (%) 2.0% - 4.9% 0.2% - 0.4% Expected life of stock options (years) 1 – 4 1 – 4 Share price at the measurement date R$ 133.68 R$ 133.68 Model used Binomial Binomial Weighted average fair value at the measurement date R$ 69.54 R$ 57.12 (*) The strike price of the original plan was based in U.S. dollars. The following table list the inputs to the model used to determine the fair value of the stock options granted on August 17,2020, November 26, 2020 and December 16, 2020, which has been granted in line with the modified plan on July 29, 2020: August 2020 November 2020 December 2020 Strike price at the measurement date R$74 – R$122 R$126 R$97 Dividend yield (%) 0.0% 0.0% 0.0% Expected volatility (%) 41% - 75% 40% - 69% 69% Risk-free interest rate (%) 2.2% - 6.1% 2.2% - 6.9% 0.9% Expected life of stock options (years) 1 – 5 1 – 5 1 Share price at the measurement date R$ 136 145.15 R$ 119.78 Model used Binomial Binomial Binomial Weighted average fair value at the measurement date R$ 67.12 R$ 56.43 R$ 40.38

16 Equity

16 Equity	12 Months Ended
	Dec. 31, 2020
Changes in equity [Roll forward]
Equity	16 Equity a. Share capital As of December 31, 2020, the Company’s share capital was R$ 17 (R$ 17 as of December 31, 2019) comprised by 93,146,731 shares (45,112,416 class A common shares and 48,034,315 class B common shares) and 89,744,275 shares as of December 31, 2019 ( 31,814,690 class A common shares and 57,929,585 class B common shares In 2020, the Company issued 3,260,480 of the Class A common shares through the public equity offering, as described in Note 1. In addition, on July 20, 2020, the Company's additional paid in capital was increased by R$17,531 in connection with issuance of 141,976 Class A common shares as described in b. Afya Brazil Prior to the completion of Afya’s IPO in July 2019, Afya Brazil was the predecessor of Afya. As such, the consolidated financial statements reflect the operating results of Afya Brazil prior to the reorganization. As of December 31, 2018, Afya Brazil’s share capital was R$ 315,000 represented by 1,443,541 shares, comprised of 1,411,895 common shares, 26,523 Class A preferred shares and 5,123 Class B preferred shares. Common shares were the only class of shares with voting rights. Class A preferred shares had the following characteristics: (i) do not grant voting rights at the shareholders meetings; (ii) the right to receive an amount, as dividend, per share equal to 17.7 times the amount received per common share; and (iii) were convertible into common shares at the ratio of 1 preferred share for 17.7 common shares in the situations described in the Shareholders Agreement. Class B preferred shares had no voting rights and had priority in capital reimbursement in case of liquidation of the Company, with no premium. Class B preferred shares were convertible into common shares at the ratio of 1 Class B preferred share for 1 common share, in certain situations. On April 26, 2018, the shareholders approved a capital increases of (i) R$55,000 through the issuance of 124,994 common shares; and (ii) R$ 11,670 through the issuance of 26,523 Class A preferred shares. On August 31, 2018, the Board of Directors approved a capital increase of R$1,304 through the issuance of 5,123 Class B preferred shares. On December 4, 2018, the shareholders approved a capital increase of R$99,999 through the issuance of 137,298 common shares. On December 31, 2018, the shareholders approved a capital increase of R$ 80,541 with earnings reserves and retained earnings without an issuance of new shares. On March 8, 2019, the shareholders of Afya Brazil approved a renounce of dividends for the year ended December 31, 2016 of R$4,107; and an increase of capital through the issuance of 37,200 common shares, in the amount of R$ 0.01, subscribed entirely by the shareholders BR Health and certain members of the Esteves Family. On March 12, 2019, the shareholders of Afya Brazil approved amongst other matters: (i) the change in its legal name to Afya Participações S.A.; (ii) a capital increase through the issuance of 156,337 common shares, in the amount of R$ 150,000, subscribed entirely by BR Health; and (iii) the propose to repurchase 160,000 common shares issued by the Company, at the acquisition price of R$ 206.25 per share, in the total amount of R$33,001, all held by the shareholder Nicolau Carvalho Esteves. The Company's common shares object of the repurchase approved were immediately canceled by the Company, without reduction of its share capital. On March 29, 2019, Afya Brazil issued 378,696 common shares to the shareholders of BR Health and Guardaya, and had a capital increase of R$ 122,062 and an additional paid-in capital of R$ 137,051. In June 2019, Afya Brazil’s shareholders approved an increase of capital through the issuance of 157,202 common shares in exchange of the acquisitions of FASA, IESP and Univaço minority interests, in the total amount of R$ 24,310. On June 18, 2019, the shareholders of Afya Brazil approved an increase of capital through the issuance of 27,211 common shares in exchange of the acquisition of an addition 15% interest at UEPC, in the total amount of R$ 24,458, subscribed entirely by the shareholder Bozano Educacional II Fundo de Investimento em Participações Multiestratégia. In addition to the capital increase related to the acquisition of the non-controlling interests of FASA, IESP and Univaço and the interest in UEPC, the Company had an additional paid-in capital of R$ 36,358. c. Dividends (Afya Brazil) On March 8, 2019, the shareholders of Afya Brazil approved the cancellation of dividends for the year ended December 31, 2016 of R$4,107. On June 13, 2019, Afya Brazil approved the payment of interim dividends totaling R$ 38,000 to Afya Brazil shareholders of record on June 13, 2019. The dividend amount was determined based on the Afya Brazil’s net income for the five months ended May 31, 2019 and were paid on September 26, 2019. Afya and its public shareholders were not entitled to receive such dividends. In 2020, CCSI and IESVAP approved the payment of interim dividends totaling R$12,984 of which R$8,392 and R$4,592 was distributed to IESVAP and CCSI’s non-controlling shareholders, respectively. The dividends were already paid. d. Buy-back program On December 23, 2020, the Company announced that its Board of Directors has approved a share buy-back program. Under the share buyback program, Afya may repurchase up to 1,015,844 of its outstanding Class A common shares in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on December 24, 2020 continuing until the earlier of the completion of the repurchase or December 31, 2021, depending upon market conditions. The share buy-back program will take place in accordance with the conditions established by the Board of Directors. Afya intends to repurchase the shares to execute the Stock Option Program for the executives of the Company. Afya’s Board of Directors will review the share buy-back program periodically and may authorize adjustments to its terms and size or suspend or discontinue the program. Afya expects to utilize its existing funds to fund the repurchase of its shares. As of the issuance date of these financial statements and during the first months of 2021, the Company had repurchased 521,117 shares at the weighted average price of R$ 124.15 (in Brazilian Reais) or US$ 22.51.

17 Earnings per share (EPS)

17 Earnings per share (EPS)	12 Months Ended
	Dec. 31, 2020
Earnings per share [abstract]
Earnings per share (EPS)	17 Earnings per share (EPS) Basic EPS is calculated by dividing net income attributable to the equity holders of the Company by the weighted average number of common and preferred shares outstanding during the year. Diluted EPS is calculated by dividing net income attributable to the equity holders of the parent by the weighted average number of common shares outstanding during the year plus the weighted average number of shares that would be issued on conversion of all potential shares with dilutive effects. Diluted earnings per share are computed including stock options granted to key management using the treasury shares method when the effect is dilutive. The Company has the stock option plan in the category of potentially dilutive shares. The following table reflects the net income and share data used in the basic and diluted EPS calculations: 2020 2019 2018* Numerator Net income attributable to equity holders of the parent 292,075 153,916 86,353 Denominator Weighted average number of outstanding shares 92,683,848 75,969,797 46,936,064 Effects of dilution from stock options 951,920 221,846 840,700 Weighted average number of outstanding shares adjusted for the effect of dilution 93,635,768 76,191,643 47,776,764 Basic earnings per share (R$) 3.15 2.03 1.84 Diluted earnings per share (R$) 3.12 2.02 1.81 * Considers the effects from the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya.

18 Revenue

18 Revenue	12 Months Ended
	Dec. 31, 2020
Revenue [abstract]
Revenue	18 Revenue The Company’s net revenue is as follows: 2020 2019 2018 Tuition fees(*) 1,388,735 856,561 385,784 Other 99,817 43,116 4,414 Deductions Granted discounts (89,017) (43,767) (11,104) Early payment discounts (29,299) (8,523) (3,189) Returns (11,437) (7,462) (1,801) Taxes (49,629) (28,157) (24,239) PROUNI (107,979) (61,138) (15,930) Net revenue from contracts with customers 1,201,191 750,630 333,935 Timing of revenue recognition of net revenue from contracts with customers Tuition, digital content and app subscription fees - Transferred over time 1,128,558 713,827 331,045 Other - Transferred at a point in time 72,633 36,803 2,890 (*) As mentioned in Note 1, the Company assessed, in connection with the social distancing requirements, whether it has satisfied all performance obligations of its contracts with customers, according to IFRS15, and concluded it was necessary to defer a portion of it’s net revenues in the second semester of 2020. As result, R$2,361 of net revenue were deferred to the first semester of 2021 and recorded in advances from customers. The Company’s revenues from contracts with customers are all in Brazil. The Company is not subject to the payment of the social integration program tax (Programa de Integração Social, or PIS) and the social contribution on revenues tax (Contribuição para o Financiamento da Seguridade Social, or COFINS) on the sale of undergraduation degrees under the PROUNI program. The following table presents statements of income for the Company’s operating segments for the years ended December 31, 2020 and 2019: Revenue by segment Segments – December 31, 2020 Business Unit 1 Business Unit 2 Elimination (inter-segment transactions) Total Types of services or goods 1,002,461 200,349 (1,619) 1,201,191 Tuition fees 997,055 107,197 - 1,104,252 Other 5,406 93,152 (1,619) 96,939 Timing of revenue recognition 1,002,461 200,349 (1,619) 1,201,191 Transferred over time 997,055 131,503 - 1,128,558 Transferred at a point in time 5,406 68,846 (1,619) 72,633 Segments – December 31, 2019 Business Unit 1 Business Unit 2 Elimination (inter-segment transactions) Total Types of services or goods 653,760 100,750 (3,880) 750,630 Tuition fees 648,957 60,195 - 709,152 Other 4,803 40,555 (3,880) 41,478 Timing of revenue recognition 653,760 100,750 (3,880) 750,630 Transferred over time 648,957 64,870 - 713,827 Transferred at a point in time 4,803 35,880 (3,880) 36,803

19 Expenses and cost by nature

19 Expenses and cost by nature	12 Months Ended
	Dec. 31, 2020
Expenses And Cost By Nature
Expenses and cost by nature	19 Expenses and cost by nature 2020 2019 2018 Cost of services (434,654) (308,853) (168,052) General and administrative expenses (402,855) (239,120) (70,034) Total (837,509) (547,973) (238,086) Payroll (446,473) (324,252) (156,623) Hospital and medical agreements (37,988) (16,429) (10,209) Depreciation and amortization (108,744) (73,152) (9,078) Rent (2,555) (4,494) (20,302) Commercial expenses (1,488) (1,363) (362) Utilities (5,892) (6,628) (2,701) Maintenance (20,746) (8,658) (2,373) Share-based compensation (32,610) (18,114) (2,161) Tax expenses (5,326) (2,696) (828) Pedagogical services (24,037) (6,271) (4,212) Sales and marketing (16,873) (11,603) (3,532) Allowance for doubtful accounts (32,081) (15,040) (7,714) Travel expenses (4,550) (7,054) (1,816) Consulting fees (31,276) (13,060) (7,245) Other (66,870) (39,159) (8,930) Total (837,509) (547,973) (238,086)

20 Finance result

20 Finance result	12 Months Ended
	Dec. 31, 2020
Finance Result
Finance result	20 Finance result 2020 2019 2018 Income from financial investments 24,479 25,965 4,680 Changes in fair value of derivative instruments 20,739 - 1,219 Interest received 11,876 9,680 4,364 Foreign exchange differences - 13,321 - Other 5,196 2,723 165 Finance income 62,290 51,689 10,428 Change in fair value of derivative instruments - (1,780) - Interest expense (25,543) (24,002) (2,404) Interest expense on lease liabilities (44,458) (31,469) - Financial discounts granted (8,081) (923) (1,063) Bank fees (6,333) (2,876) (1,219) Foreign exchange differences (4,613) - (2,697) IOF taxes (taxes on financial transactions) (1,661) (6,801) (355) Other (7,580) (4,514) (416) Finance expenses (98,269) (72,365) (8,154) Finance result (35,979) (20,676) 2,274

21 Income taxes

21 Income taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes
Income taxes	21 Income taxes Income taxes are comprised of taxation over operations in Brazil, related to Corporate Income Tax ("IRPJ") and Social Contribution on Net Profit ("CSLL"). According to Brazilian tax legislation, income taxes and social contribution are assessed and paid by legal entity and not on a consolidated basis. Reconciliation of income taxes expense The following is a reconciliation of income tax expense to profit (loss) for the year, calculated by applying the combined Brazilian statutory rates at 34% for the years ended December 31, 2020, 2019 and 2018: 2020 2019 2018 Income before income taxes 335,054 186,937 98,722 Combined statutory income taxes rate - % 34% 34% 34% Income taxes at statutory rates (113,918) (63,559) (33,565) Reconciliation adjustments: Tax effect on loss from entities not subject to taxation (8,474) (1,265) - PROUNI - Fiscal Incentive (a) 120,851 73,397 30,564 Unrecognized deferred tax assets (41,319) (19,342) - Presumed profit income tax regime effect (b) (2,640) 351 - Permanent adjustments 2,567 - - Tax effect over pre-acquisition losses 13,893 - - Other 1,973 (3,757) (987) Income taxes expense – current (27,067) (14,175) (3,988) Effective rate 8.08% 7.58% 4.04% (a) The Company adhered to PROUNI, established by Law 11,096 / 2005, which is a federal program that exempt companies of paying income taxes and social contribution. (b) Brazilian tax law establishes that companies that generate gross revenues of up to R$ 78,000 in the prior fiscal year may calculate income taxes as a percentage of gross revenue, using the presumed profit income tax regime. The Company adopted this tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries. Deferred income taxes As of December 31, 2020, the Company had unrecognized deferred income tax assets on temporary differences and tax losses in the amount of R$ 214,387 (tax basis) (R$ 96,627 (tax basis) as of December 31, 2019) which does not have any tax planning opportunities available that could support the recognition of these temporary differences as deferred tax assets. Accordingly, the Company did not recognize deferred tax assets.

22 Insurance contracts and cont

22 Insurance contracts and contingencies	12 Months Ended
	Dec. 31, 2020
Insurance Contracts And Contingencies
Insurance contracts and contingencies	22 Insurance contracts and contingencies a) Insurance contracts The Company and its subsidiaries have a risk management program with the purpose of delimiting the risks, seeking in the market coverage compatible with its size and operations. b) Legal proceedings and contingencies The provisions related to labor and civil proceedings whose likelihood of loss is assessed as probable are as follows: Labor Civil Taxes Total Balances as of December 31, 2017 297 1,423 - 1,720 Business combinations 2,089 - - 2,089 Additions 13 - - 13 Reversals (166) (191) - (357) Balances as of December 31, 2018 2,233 1,232 - 3,465 Business combinations 3,301 1,071 - 4,372 Additions 737 1,508 - 2,245 Reversals (3,770) (1,043) - (4,813) Balances as of December 31, 2019 2,501 2,768 - 5,269 Business combinations 2,741 2,348 27,487 32,576 Additions* 562 10,869 7,853 19,284 Reversals (1,285) (2,705) - (3,990) Balances as of December 31, 2020 4,519 13,280 35,340 53,139 *The total amount of R$ 9,940 are related to legal proceedings attributed to the selling shareholders administration. The same amount was recorded as indemnification assets in the balance sheet in other assets. There are other civil, labor, taxes and social security proceedings assessed by Management and its legal counsels as possible risk of loss, for which no provisions are recognized, as follows: 2020 2019 Labor 2,318 3,570 Civil 59,969 39,135 Taxes and social security 4,375 7,583 Total 66,662 50,288 The Company has judicial deposits recorded in other assets (non-current) in the amount of R$ 1,451 as of December 31, 2020 (R$ 804 as of December 31, 2019). Under the terms of the Share Purchase and Sale Agreements ("Agreements") between the Company and the selling shareholders of the subsidiaries acquired, the Company assesses that the selling shareholders are exclusively responsible for any provisions (including labor, tax and civil), which are or will be the subject of a claim by any third party, arising from the act or fact occurred, by action or omission, prior to or on the closing dates of the acquisitions. Accordingly, and considering that the provisions for legal proceedings recorded by the Company that result from causes arising from events occurring prior to the closing dates of the acquisitions, any liability for the amounts to be disbursed, in case of their effective materialization in loss, belongs exclusively to the selling shareholders. In this context, the Agreements state that the Company and its subsidiaries are indemnified and therefore exempt from any liability related to said contingent liabilities and, therefore, the provision amounts related to such contingencies are presented in the non-current liabilities and the correspondent amount of R$ 53,499 as of December 31, 2020 (December 31, 2019: R$ 6,690) is presented in non-current other assets.

23 Non-cash transactions

23 Non-cash transactions	12 Months Ended
	Dec. 31, 2020
Non-cash Transactions
Non-cash transactions	23 Non-cash transactions During the years ended December 31, 2020, 2019 and 2018, the Company carried out non-cash transactions which are not reflected in the statements of cash flows. The main non-cash transactions were the business combinations of Guardaya in March 2019 and IPTAN and IESVAP in 2018, and issuance of shares for the acquisition of PEBMED in 2020; and additions and remeasurements of right-of-use assets and lease liabilities in 2020 and 2019.

24 Subsequent events

24 Subsequent events	12 Months Ended
	Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent events	24 Subsequent events a) Acquisition of iClinic On October 9, 2020, Afya Brazil entered into an agreement for the acquisition of 100% of the share capital of iClinic (comprised by iClinic Participações S.A., iClinic Desenvolvimento de Software Ltda. and Black River Brazil Participações S.A.). iClinic is a SaaS model physician focused technology company and the leading medical practice management software in Brazil. iClinic empower doctors to be more independent and have more control over their careers by digitalizing their daily routine, so they can increase their productivity and deliver better healthcare services. With the acquisition of iClinic to our platform Afya will make another step to become the one stop shop for physicians in Brazil. The acquisition was concluded on January 21, 2021. The aggregate net purchase price is R$182,656: (i) 61.5% is payable in cash, and (ii) 38.5% is payable with Afya's shares on the transaction closing date. The acquisition date fair value of each major class of consideration, including the allocation of the purchase price has not been completed by the Company as of the issuance date of these financial statements. The impact on revenue and profit or loss of the combined entity for the current reporting period as if the acquisition date had been as of the beginning of the annual reporting period is not available as the Company did not conclude this acquisition by December 31, 2020. Therefore, these financial statements do not include this information. All the precedent conditions were satisfied and this acquisition was closed on January 21, 2021. The transaction costs to date amounted to R$ 421. Any goodwill generated in the transaction is not expected to be deductible for tax purposes. b) Acquisition of Medicinae On March 25, 2021, Afya Brazil concluded the acquisition of 100% of the total share capital of Medicinae Solutions S.A., a leading Brazilian healthcare technology company that specializes in healthcare payments and financial services. The acquisition will expand Afya’s digital health services, as it offers a unique financial platform that allows healthcare professionals all over Brazil to manage receivables in an efficient and scalable way using FIDC (Receivables Investment Fund). Medicinae relieves a number of challenges in the healthcare payments industry, as reduces long payment cycles for professionals and consolidates financial information, improving the consumer financial experience. The aggregate purchase price is R$ 5,600 of which 100% was paid in cash on the transaction closing date. An earn-out of R$ 4,400 is payable in connection with product development goals for 2021 and revenue achievements for 2022. The acquisition date fair value of each major class of consideration, including the allocation of the purchase price has not been completed by the Company as of the issuance date of these financial statements. The impact on revenue and profit or loss of the combined entity for the current reporting period as if the acquisition date had been as of the beginning of the annual reporting period is not available as the Company did not conclude this acquisition by December 31, 2020. Therefore, these financial statements do not include this information. The transaction costs to date amounted to R$ 169. Any goodwill generated in the transaction is not expected to be deductible for tax purposes. c) Acquisition of Medical Harbour On April 8, 2021, Afya Brazil acquired 100% of the total share capital of Medical Harbour Aparelhos Médico Hospitalares e Serviços em Tecnologia Ltda. through its wholly-owned subsidiary Afya Brazil. Medical Harbour offers educational health and medical imaging solutions through an interactive platform for anatomical study, 3D virtual dissection and analysis of medical images, which allow the exploration, and knowledge of human anatomy with digital resources. The aggregate purchase price is R$ 5,000 of which 100% was paid in cash on the transaction closing date. An earn-out of R$ 9,000 is payable in connection with product development goals for 2021 and 2022 and revenue achievements for 2023. The acquisition date fair value of each major class of consideration, including the allocation of the purchase price has not been completed by the Company as of the issuance date of these financial statements. The impact on revenue and profit or loss of the combined entity for the current reporting period as if the acquisition date had been as of the beginning of the annual reporting period is not available as the Company did not conclude this acquisition by December 31, 2020. Therefore, these financial statements do not include this information. The transaction costs to date amounted to R$ 48. Any goodwill generated in the transaction is not expected to be deductible for tax purposes. d) Acquisition of Cliquefarma On April 16, 2021, Afya Brazil acquired 100% of the total share capital of Cliquefarma Drogarias Online Ltda., a healthtech company operating a free-to-use website that tracks prescription drugs, cosmetics and personal hygiene product prices in Brazil. Users of Cliquefarma can easily search for medications or healthcare products and compare prices from over 5,000 pharmacies in Brazi. The traffic generated is monetized through a cost-per-click model, where drugstores pay for each click on their advertisements. The aggregate purchase price is R$ 19,165 of which R$16,165 was paid in cash on the transaction closing date and R$3,000 was paid in Afya’s stocks. An earn-out of R$ 3,000 is payable in connection with product developments for 2021. The acquisition date fair value of each major class of consideration, including the allocation of the purchase price has not been completed by the Company as of the issuance date of these financial statements. The impact on revenue and profit or loss of the combined entity for the current reporting period as if the acquisition date had been as of the beginning of the annual reporting period is not available as the Company did not conclude this acquisition by December 31, 2020. Therefore, these financial statements do not include this information. The transaction costs to date amounted to R$ 22. Any goodwill generated in the transaction is not expected to be deductible for tax purposes. e) Investment from the SoftBank Latin America Fund On April 26, 2021, SoftBank Latin America Fund (“SoftBank”) agreed to purchase approximately R$822,000, equivalent to US$150,000, of Afya’s Series A perpetual convertible preferred shares, subject to customary closing conditions. The key terms of the perpetual convertible preferred shares are: (i) 6.5% per annum cumulative dividend payable quarterly and in Brazilian reais (payable in U.S. Dollar in Brazilian reais equivalent); (ii) SoftBank shall have the right at any time, to convert its Series A Preference Shares into 5,917,888 common shares, established at US$25.35; (iii) SoftBank shall have the right to redeem any time after the 5th year anniversary at 105% premium; and (iv) Afya will have the right to force conversion after the 3rd year anniversary if forced conversion trigger conditions are satisfied. SoftBank and its affiliates will beneficially own approximately 8.4% of the total shares of the company (on an as-converted basis for the Series A perpetual convertible preferred shares). f) Share-based compensation In January 2021, 545,000 additional stock options were granted, with an exercise price of R$115 (in Brazilian Reais). These stock options will vest in five annual installments. In March 2021, 65,000 additional stock options were granted, with an exercise price of R$105 (in Brazilian Reais). These stock options will vest in five annual installments. In April 2021, 139,000 additional stock options were granted, with an exercise price of R$105 (in Brazilian Reais). These stock options will vest in five annual installments.

2 Significant accounting poli_2

2 Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Significant Accounting Policies [Abstract]
Business combinations and goodwill	a) Business combinations and goodwill Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business combination, the Company elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in general and administrative expenses. When the Company acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date. Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Company re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in the consolidated statement of income. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained.
Current versus non-current classification	b) Current versus non-current classification The Company presents assets and liabilities in the statement of financial position based on current/non current classification. An asset is current when it is: • Expected to be realized or intended to be sold or consumed in the normal operating cycle; • Held primarily for the purpose of trading; • Expected to be realized within twelve months after the reporting period; or • Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when: • It is expected to be settled in the normal operating cycle; • It is held primarily for the purpose of trading; • It is due to be settled within twelve months after the reporting period; or • There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The Company classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities.
Fair value measurement	c) Fair value measurement The Company measures derivative financial instruments at fair value at each balance sheet date as disclosed in Note 12.3. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (i) in the principal market for the asset or liability; or (ii) in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: • Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities. • Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. • Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. At each reporting date, the Company analyzes the movements in the values of assets and liabilities which are required to be remeasured or re-assessed as per the Company’s accounting policies. For this analysis, the Company verifies the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents. The Company also compares the change in the fair value of each asset and liability with relevant external sources to determine whether the change is reasonable. For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above.
Financial instruments - initial recognition and measurement	d) Financial instruments – initial recognition and measurement A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. i) Financial assets Initial recognition and measurement The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, are measured at the transaction price determined under IFRS 15. In order for a financial asset to be classified and measured at amortized cost or fair value through OCI (Other Comprehensive Income), it needs to give rise to cash flows that are “solely payments of principal and interest (SPPI)” on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Company commits to purchase or sell the asset. Subsequent measurement For purposes of subsequent measurement, financial assets are classified as: financial assets at amortized cost or financial assets at fair value through profit or loss. There is no financial assets designated as fair value through OCI. Financial assets at amortized cost The Company measures financial assets at amortized cost if both of the following conditions are met: • The financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows, and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in the statement of income when the asset is derecognized, modified or impaired. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of income. This category includes derivative instruments. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Company’s statement of financial position) when: • The rights to receive cash flows from the asset have expired; or • The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. Impairment of financial assets Further disclosures relating to impairment of financial assets are also provided in the following notes: • Significant accounting estimates and assumptions – Note 3 • Trade receivables – Note 7 The Company recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and the cash flows the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. For trade receivables, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes an allowance for credit losses based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company considers a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. ii) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company’s financial liabilities include trade payables, loans and financing and accounts payable to selling shareholders. Subsequent measurement The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Gains or losses on liabilities held for trading are recognized in the statement of income. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. Loans and borrowings After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in the statement of income when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance expenses in the statement of income. Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of income. Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.
Derivative financial instruments	e) Derivative financial instruments The Company has derivative financial instruments related to cross-currency interest rate swaps in connection with a loan denominated in Euros. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. Any gains or losses arising from changes in the fair value of derivatives are recorded directly to finance result in the statement of income.
Cash and cash equivalents	f) Cash and cash equivalents Cash and cash equivalents in the statement of financial position comprise cash at banks and on hand, and short-term financial investments with an original maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term financial investments, as they are considered an integral part of the Company’s cash management.
Restricted cash	g) Restricted cash Restricted cash in the statement of financial position comprise of financial investments in investment funds that serve as collateral for loan agreements and other commitments.
Inventories	h) Inventories Inventories are valued at the lower of cost and net realizable value. The costs of inventories are based on the average cost method and include costs incurred in the purchase of inventories and other costs incurred in bringing them to their current location and condition. Costs of purchased inventory are determined after deducting any discounts and recoverable taxes.
Property and equipment	i) Property and equipment Property and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Subsequent expenditures are capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the Company. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Building 25 years Machinery and equipment 10 years Vehicles 4 years Furniture and fixtures 10 years IT equipment 5 years Library books 10 years Laboratories and clinics 10 years Leasehold improvements 20 years An item of property and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefit is expected from its use or disposal. Any gain or loss arising on the derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of income when the asset is derecognized. The residual values, useful lives and methods of depreciation of property and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.
Leases	j) Leases Prior to the adoption of IFRS 16, the determination of whether an arrangement is (or contains) a lease was based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset (or assets) and the arrangement conveys a right to use the asset (or assets), even if that asset is (or those assets are) not explicitly specified in an arrangement. A lease was classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Company was classified as a finance lease. An operating lease is a lease other than a finance lease. The Company did not have leases classified as finance lease. Operating lease payments were recognized as an operating expense in the statement of income on a straight-line basis over the lease term. As from January 1, 2019, the determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the contract. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset (or assets) and the arrangement conveys a right to use the asset (or assets), even if that asset is (or those assets are) not explicitly specified in an arrangement. Company as a lessee The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Company recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. Right-of-use assets The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Company is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Company applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term.
Intangible assets	k) Intangible assets Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles are not capitalized and the related expenditure is reflected in the statement of income in the period in which the expenditure is incurred. The useful lives of intangible assets are assessed as finite or indefinite. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of income in the expense category that is consistent with the function of the intangible assets. Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. An intangible asset is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of income.
Impairment of non-financial assets	l) Impairment of non-financial assets The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators. The Company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Company’s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of five years, considering the companies activities and maturation period of its graduate and undergraduate courses. A long-term growth rate is calculated and applied to project future cash flows after the last projected year. For impairment testing, goodwill acquired through business combinations and licenses with indefinite useful lives are allocated to their respective CGUs. The Company has defined each of its operating subsidiaries as a CGU. Whenever applicable, impairment losses of continuing operations are recognized in the statement of income in expense categories consistent with the function of the impaired asset. For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or have decreased. If such indication exists, the Company estimates the asset’s or CGU’s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of income. Goodwill is tested for impairment annually as at December 31 and when circumstances indicate that the carrying value may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. Intangible assets with indefinite useful lives are tested for impairment annually as at December 31 at the CGU level, as appropriate, and when circumstances indicate that the carrying value may be impaired.
Investments	m) Investments Investments in associates are initially recognized at consideration transferred and adjusted thereafter for the equity method, being increased or reduced from its interest in the investee's income after the acquisition date. An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies.
Accounts payable to selling shareholders	n) Accounts payable to selling shareholders These amounts represent liabilities related to the acquisitions made by the Company which are not yet due. Accounts payable to selling shareholders are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method.
Provisions	o) Provisions Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of income, net of any reimbursement, when applicable.
Dividends payable	p) Dividends payable The Company recognizes a liability to pay a dividend when the distribution is authorized and the distribution is no longer at the discretion of the Company. The distribution is authorized when it is required to pay a minimum dividend of the net income for the year in accordance with the Brazilian Corporate Law (applicable for Afya Brazil) and the Company’s By-Laws or is approved by the shareholders. A corresponding amount is recognized directly in equity.
Labor and social obligations	q) Labor and social obligations Labor and social obligations are expensed as the related service is provided. A liability is recognized for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.
Share-based payments	r) Share-based payments Certain key executives of the Company receive remuneration in the form of share-based payments, whereby the executives render services as consideration for equity instruments (equity-settled transactions). The expense of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. That expense is recognized in general and administrative expenses, together with a corresponding increase in equity, over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of income for a period represents the movement in cumulative expense recognized as at the beginning and end of that period. Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Company’s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. Where an award is cancelled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through the statement of income. The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share.
Revenue from contracts with customers	s) Revenue from contracts with customers Tuition fees and other revenue The Company's revenue consists primarily of tuition fees charged for medical courses and other courses. The Company also generates revenue from tuition fees for other undergraduate courses, student fees, certain education-related activities and digital education content. Revenues are recognized when services are rendered to the customer and the performance obligation is satisfied. Revenue from tuitions, digital education content and mobile app subscription for digital medical content are recognized over time when services are rendered to the customer and the Company satisfies its performance obligation under the contract at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. Revenues from tuitions are recognized net of scholarships and other discounts, refunds and taxes. Other revenues are recognized at a point in time when the service is rendered to the customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for the service. Other revenues are presented net of the corresponding discounts, returns and taxes. Printed books and e-books revenue are transferred at point in time Revenue from sale of printed books and e-books are recognized at the point in time when control of the asset or services is transferred to the customer, generally on delivery of the goods at the customer’s location and permission to access the digital content. The Company considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated. In determining the transaction price for the printed books and e-books, the Company considers the effects of variable consideration, financing component, noncash consideration, and consideration payable to the customer to be not significant. The Company has concluded that it is the principal in its revenue arrangements. The Company assesses collectability on a portfolio basis prior to recording revenue. Generally, students cannot re-enroll for the next academic session without satisfactory resolution of any past-due amounts. If a student withdraws from an institution, the Company's obligation to issue a refund depends on the refund policy at that institution and the timing of the student's withdrawal. Generally, the refund obligations are reduced over the course of the academic term. Trade receivables Trade receivables represent the Company’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). Refer to accounting policies of financial assets in Financial instruments – initial recognition and subsequent measurement. Advances from customers Advances from customers (a contract liability) are the obligation to transfer services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer, as a result of pre-paid tuition, digital education content and mobile app subscription for digital medical content received from customers and is recognized separately in current liabilities, when the payment is received. Advances from customers are recognized as revenue when the Company performs all obligations related to the contract, generally in the following month.
Taxes	t) Taxes The Company’s subsidiaries joined the PROUNI ( Programa Universidade para Todos – • Income taxes and social contribution • PIS and COFINS The regulation of PROUNI defines that the revenue from traditional and technological graduation activities is exempt from PIS and COFINS. For income from other teaching activities, PIS and COFINS are charged at rates of 0.65% and 3.00%, respectively, and for non-teaching activities, PIS is charged at a rate of 1.65% and to COFINS at 7.6%. Current income taxes Current income taxes were calculated based on the criteria established by the Normative Instruction of the Brazilian Internal Revenue Service, specifically regarding the PROUNI program, which allows exemption of these taxes from traditional and technological graduation activities. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. 2.4 Changes in accounting policies and disclosures New standards, interpretations and amendments adopted by the Company Amendments to IFRS 16 Covid-19 Related Rent Concessions On May 28, 2020, the IASB issued Covid-19-Related Rent Concessions - amendment to IFRS 16 Leases. The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification. A lessee that makes this election accounts for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification. The other new amendments and interpretations were applied for the first time in 2020, but did not have a significant impact on the consolidated financial statements of the Company.

2 Significant accounting poli_3

2 Significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Significant Accounting Policies [Abstract]
Schedule of subsidiaries, joint ventures and joint operations	The table below list the Company’s subsidiaries and associate: Direct and indirect interest Name Principal activities Location Investment type December 31, 2020 December 31, 2019 December 31, 2018 Afya Participações S.A. (Afya Brazil) Holding Nova Lima - MG Subsidiary 100% 100% 100% Instituto Tocantinense Presidente Antônio Carlos Porto S.A. – (“ITPAC Porto”) Undergraduate and graduate degree programs Porto Nacional - TO Subsidiary 100% 100% 100% Instituto Tocantinense Presidente Antônio Carlos S.A. – (“ITPAC Araguaina”) Undergraduate and graduate degree programs Araguaína - TO Subsidiary 100% 100% 100% União Educacional do Vale do Aço S.A. – (“UNIVAÇO”) Undergraduate and graduate degree programs Ipatinga - MG Subsidiary 100% 100% 76% IPTAN - Instituto de Ensino Superior Presidente Tancredo de Almeida Neves S.A. (“IPTAN”) Undergraduate and graduate degree programs São João Del Rei - MG Subsidiary 100% 100% 100% Instituto de Educação Superior do Vale do Parnaíba S.A. (“IESVAP”) Undergraduate and graduate degree programs Parnaíba - PI Subsidiary 80% 80% 80% Centro de Ciências em Saúde de Itajubá S.A. (“CCSI”) Undergraduate and graduate degree programs Itajubá - MG Subsidiary 60% 60% 60% Instituto de Ensino Superior do Piauí S.A. (”IESP”) Undergraduate and graduate degree programs Teresina - PI Subsidiary 100% 100% 80% RD Administração e Participações Ltda. (“RD”) **** Holding Pato Branco - PR Subsidiary - 100% 100% FADEP - Faculdade Educacional de Pato Branco Ltda. (“FADEP”) Undergraduate and graduate degree programs Pato Branco - PR Subsidiary 100% 100% 100% CBB Web Serviços e Transmissões Online S.A. (“CBBW”)*** Medical education courses and online platform São Paulo - SP Subsidiary - 100% - Medcel Editora e Eventos S.A. (“Medcel”) Medical education content São Paulo - SP Subsidiary 100% 100% - Instituto Educacional Santo Agostinho S.A. (“FASA”) Undergraduate and graduate degree programs Montes Claros - MG Subsidiary 100% 100% - ESMC Educação Superior Ltda.* Undergraduate and graduate degree programs Montes Claros - MG Subsidiary 100% - - Instituto de Pesquisa e Ensino Médico do Estado de Minas Gerais Ltda. (“IPEMED”) Post-graduate Belo Horizonte - MG Subsidiary 100% 100% - Instituto Paraense de Educação e Cultura Ltda (“IPEC”) Undergraduate and graduate degree programs Marabá - PA Subsidiary 100% 100% - Sociedade Universitária Redentor S.A. (“UniRedentor”) ** Undergraduate and graduate degree programs Itaperuna - RJ Subsidiary 100% - - Centro Universitário São Lucas Ltda. (“UniSL”) ** Undergraduate and graduate degree programs Porto Velho - RO Subsidiary 100% - - PEBMED Instituição de Pesquisa Médica e Serviços Tecnológicos da Área da Saúde S.A. (“PEBMED”)** Content and clinical tools and online platform Rio de Janeiro – RJ Subsidiary 100% - - Centro Superior de Ciências da Saúde S/S Ltda. ("FCMPB") Undergraduate and graduate degree programs João Pessoa – PB Subsidiary 100% - - Faculdade de Ensino Superior da Amazônia Reunida – (“FESAR”) Undergraduate and graduate degree programs Redenção – PA Subsidiary 100% - - MedPhone Tecnologia em Saúde Ltda. (“MedPhone”) Content and clinical tools and online platform Recife – PE Subsidiary 100% - - União Educacional do Planalto Central S.A. (“UEPC”) Undergraduate and graduate degree programs Brasília - DF Associate 30% 30% - * On January 1, 2020, Afya Brazil incorporated ESMC Educação Superior Ltda. (“ESMC”) and transferred the two FASA campuses located in the State of Minas Gerais, which do not offer medicine courses, to ESMC. This spin-off did not have an impact on the consolidated financial statements. ** See Note 5.1 for further details on the business combinations during 2020. *** CBBW was merged by Medcel on May 1, 2020. **** RD Administração e Participações Ltda was merged by Afya Brazil on December 15, 2020.
Schedule of estimated useful lives	Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Building 25 years Machinery and equipment 10 years Vehicles 4 years Furniture and fixtures 10 years IT equipment 5 years Library books 10 years Laboratories and clinics 10 years Leasehold improvements 20 years

4 Segment information (Tables)

4 Segment information (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of operating segments [abstract]
Schedule of assets and liabilities information for the company's operating segments	The following table presents assets and liabilities information for the Company's operating segments as of December 31, 2020: Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2020 Total assets 4,541,988 251,220 4,793,208 (115) 4,793,093 Current assets 1,280,342 125,274 1,405,616 (115) 1,405,501 Non-current assets 3,261,646 125,946 3,387,592 - 3,387,592 Total liabilities and equity 4,541,988 251,220 4,793,208 (115) 4,793,093 Current liabilities 522,522 66,972 589,494 (115) 589,379 Non-current liabilities 1,261,894 108,040 1,369,934 - 1,369,934 Equity 2,757,572 76,208 2,833,780 - 2,833,780 Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2020 Other disclosures Investments in associate 51,410 - 51,410 - 51,410 Capital expenditures (*) 82,916 26,565 109,481 - 109,481 (*) Capital expenditures consider the acquisitions of property and equipment and intangible assets. The following table presents assets and liabilities information for the Company's operating segments as of December 31, 2019: Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2019 Total assets 2,714,161 199,285 2,913,446 (993) 2,912,453 Current assets 1,026,857 85,901 1,112,758 (993) 1,111,765 Non-current assets 1,687,304 113,384 1,800,688 - 1,800,688 Total liabilities and equity 2,714,161 199,285 2,913,446 (993) 2,912,453 Current liabilities 312,303 21,919 334,222 (993) 333,229 Non-current liabilities 360,005 105,493 465,498 - 465,498 Equity 2,041,853 71,873 2,113,726 - 2,113,726 Unit 1 Unit 2 Total reportable segments Elimination (inter-segment transactions) Total As of December 31, 2019 Other disclosures Investments in associate 45,634 - 45,634 - 45,634 Capital expenditures (*) 167,427 8,282 175,709 - 175,709 (*) Capital expenditures consider the acquisitions of property and equipment and intangible assets, including the acquisition of IPEC licenses in the amount of R$ 108,000 (R$ 54,000 paid and included in the acquisition of intangible assets in the cash flows used in investing activities) as described in Note 11.
Schedule of operating income for each operating segment	The following table presents statements of income for the Company's operating segments for the year ended December 31, 2020: Business Unit 1 Business Unit 2 Total reportable segments Elimination (inter-segment transactions) Total External costumer 1,002,461 198,730 1,201,191 - 1,201,191 Inter-segment - 1,619 1,619 (1,619) - Net revenue 1,002,461 200,349 1,202,810 (1,619) 1,201,191 Cost of services (381,964) (54,309) (436,273) 1,619 (434,654) Gross profit 620,497 146,040 766,537 - 766,537 General and administrative expenses (402,855) Other expenses, net (347) Operating profit 363,335 Finance income 62,290 Finance expenses (98,269) Share of income of associate 7,698 Income before income taxes 335,054 Income taxes expense (27,067) Net income 307,987 The following table presents statements of income for the Company's operating segments for the year ended December 31, 2019: Unit 1 Unit 2 Total reportable segments Adjustments and eliminations * Total External costumer 653,760 96,870 750,630 - 750,630 Inter-segment - 3,880 3,880 (3,880) - Net revenue 653,760 100,750 754,510 (3,880) 750,630 Cost of services (279,066) (33,667) (312,733) 3,880 (308,853) Gross profit 374,694 67,083 441,777 - 441,777 General and administrative expenses (239,120) Other income, net 2,594 Operating profit 205,251 Finance income 51,689 Finance expenses (72,365) Share of income of associate 2,362 Income before income taxes 186,937 Income taxes expense (14,175) Net income 172,762 (*) These eliminations are related to sale transactions from Medcel to other entities in Business Unit 1.

5 Business combinations (Tables

5 Business combinations (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations
Schedule of preliminary fair values of the identifiable assets acquired and liabilities acquired	The preliminary fair values of the identifiable assets acquired and liabilities assumed as of each acquisition date were: UniRedentor* UniSL** PEBMED FESAR FCMPB MedPhone Assets Cash and cash and equivalents 11,796 3,245 1,119 4,236 100 60 Trade receivables 4,800 21,567 7,984 - 8,148 - Inventories - 467 - - - - Recoverable taxes 3 822 - - - - Other assets 2,486 7,251 161 42 123 9 Indemnification assets 710 12,645 12,350 6,871 - - Right-of-use assets 10,265 42,062 865 - 23,663 - Property and equipment 4,207 19,144 391 23,176 962 - Intangible assets 142,399 314,097 60,372 167,106 264,782 3,727 176,666 421,300 83,242 201,431 297,778 3,796 Liabilities Trade payables (746) (3,554) (9,024) (143) (173) - Loans and financing (16,187) (58,541) - (1,087) - - Lease liabilities (10,265) (42,062) (865) - (23,663) - Labor and social obligations (4,471) (8,070) (1,786) (1,801) (3,832) - Taxes payable (850) (5,779) (1,210) (29) (5) (2) Provision for legal proceedings (710) (12,645) (12,350) (6,871) - - Advances from customers (10,994) (6,084) (9,312) (759) (1,781) - Notes payable - (80,526) - - - - Other liabilities - (14,754) - - - (228) (44,223) (232,015) (34,547) (10,690) (29,454) (230) Total identifiable net assets at fair value 132,443 189,285 48,695 190,741 268,324 3,566 Preliminary goodwill arising on acquisition 77,662 4,420 84,175 71,664 110,483 2,843 Purchase consideration transferred 210,105 193,705 132,870 262,405 378,807 6,409 Cash paid 114,607 141,065 115,339 260,836 189,913 6,373 Payable in installments 95,498 52,640 - 1,569 188,894 36 Paid in Afya Brazil’s shares - - 17,531 - - - Analysis of cash flows on acquisition: Transaction costs (included in cash flows from operating activities) (1,380) (1,666) (613) (2,047) (721) (158) Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities) (102,811) (137,820) (114,220) (256,600) (189,813) (6,313) Net of cash flow on acquisition (104,191) (139,486) (114,833) (258,647) (190,534) (6,471) *During the measurement period, the preliminary goodwill for the acquisition of UniRedentor was adjusted to R$77,662 (R$90,282 initial goodwill) as a result of an increase of intangible assets from R$134,281 to R$142,399 and a purchase price consideration adjustment of R$ 4,503. **During the measurement period, the preliminary goodwill for the acquisition of UniSL was adjusted to R$4,422 (R$53,192 previously disclosed) as a result of (i) a purchase consideration decrease of R$7,816 and (ii) adjustments increasing intangible assets of R$ 40,961 and a decrease in property and equipment of R$7.
Schedule of acquisition of UniRedentor	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.
Schedule of acquisition of UniSL	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.
Schedule of acquisition of PEBMED	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief from royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. Developed technology intangible assets Replacement cost This methodology is based on the estimated cost of replacing the referred asset with a new one (acquisition or reconstruction), adjusted to reflect the losses in value resulting from the physical deterioration and the functional and economic obsolescence of that asset.
Schedule of acquisition of FESAR	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.
Schedule of acquisition of MedPhone	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief from royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. Developed technology intangible assets Replacement cost This methodology is based on the estimated cost of replacing the referred asset with a new one (acquisition or reconstruction), adjusted to reflect the losses in value resulting from the physical deterioration and the functional and economic obsolescence of that asset.
Schedule of acquisition of FCMPB	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earnings method The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.
Schedule of preliminary fair values of the identifiable assets acquired and liabilities	Guardaya FASA* IPEMED** Assets Cash and cash and equivalents 1,548 3,834 307 Restrict cash - 5,561 - Trade receivables 44,277 1,832 8,965 Inventories 2,581 - - Recoverable taxes 280 - - Other assets 489 458 3,266 Right-of-use assets 4,556 47,789 8,800 Property and equipment 1,594 22,946 3,676 Investment in associate 24,458 - - Intangible assets 59,977 171,511 33,039 139,760 253,931 58,053 Liabilities Trade payables (454) (1,133) (4,908) Loans and financing (4,076) (35,419) (3,592) Lease liabilities (4,607) (47,793) (8,965) Labor and social obligations (1,844) (5,254) (1,575) Taxes payable (3,571) (483) (26,503) Provision for legal proceedings (680) (1,684) (2,008) Advances from customers - (3,192) (607) Other liabilities (4,709) (460) - (19,941) (95,418) (48,158) Total identifiable net assets at fair value 119,819 158,513 9,895 Non-controlling interest - (15,851) - Goodwill arising on acquisition 139,294 58,903 87,647 Purchase consideration transferred 259,113 201,565 97,542 Cash paid - 102,330 52,239 Capital contribution 259,113 - - Payable in installments - 99,235 45,303 Analysis of cash flows on acquisition: Transaction costs (included in cash flows from operating activities) (482) (1,887) (180) Cash paid net of cash acquired with the subsidiary (included in cash flows from investing activities) 1,548 (98,496) (51,932) Net of cash flow on acquisition 1,066 (100,383) (52,112) *During the measurement period, the purchase consideration for the acquisition of FASA was adjusted by R$3,022 as a result of purchase price adjustments. Accordingly, goodwill was updated to R$58,903. ** During the measurement period of the assets acquired and liabilities assumed at the fair value, the Company has identified R$1,320 of indemnification assets, related to the acquisition of IPEMED.
Schedule of acquisition of Guardaya	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief-from-royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earning method The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets. Educational content Replacement cost This methodology is based on the estimate of the cost of replacing the asset with a new one (acquisition or reconstruction), adjusted to reflect the losses of value resulting from the physical deterioration and the economic functional obsolescence of the asset.
Schedule of acquisition of FASA	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Licenses With-and-without method The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence. Customer relationships Multi-period excess earning method The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets.
Schedule of acquisition of IPEMED	The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Intangible assets acquired Valuation technique Trademark Relief-from-royalty This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. And it is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value. Customer relationships Multi-period excess earning method The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets.

6 Cash and cash equivalents (Ta

6 Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Schedule of cash and cash equivalents	2020 2019 Cash and bank deposits 57,729 13,092 Cash equivalents (a) 987,313 930,117 1,045,042 943,209

7 Trade receivables (Tables)

7 Trade receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Schedule of trade accounts receivable, net and notes receivable	2020 2019 Tuition fees 195,318 80,156 Educational content (a) 62,931 37,154 FIES 49,425 17,789 Educational credits 11,248 9,899 Mobile app subscription (b) 13,526 - Others 10,476 5,005 342,924 150,003 (-) Allowance for doubtful accounts (32,980) (14,763) 309,944 135,240 Current 302,317 125,439 Non-current 7,627 9,801 (a) Related to trade receivables from sales of printed books, e-books and medical courses through digital platform from Medcel. (b) Related to trade receivables from mobile applications subscriptions for digital medical content.
Schedule of aging of trade accounts receivable	As of December 31, 2020 and 2019, the aging of trade receivables was as follows: 2020 2019 Neither past due nor impaired 145,076 71,095 Past due 1 to 30 days 44,365 15,042 31 to 90 days 57,198 27,221 91 to 180 days 51,521 20,543 More than 180 days 44,764 16,102 342,924 150,003
Schedule of allowance for doubtful accounts	The changes in the allowance for doubtful accounts for the years ended December 31, 2020, 2019 and 2018, was as follows: 2020 2019 2018 Balance at the beginning of the year (14,763) (7,537) (3,794) Additions (32,081) (15,040) (7,714) Write-offs 13,864 7,814 3,971 Balance at the end of the year (32,980) (14,763) (7,537)

8 Related parties (Tables)

8 Related parties (Tables)	12 Months Ended
	Dec. 31, 2020
Related party transactions [abstract]
Schedule of related parties	The table below summarizes the balances and transactions with related parties: 2020 2019 Assets Trade receivables (a) 174 557 Related parties (b) 421 - 595 557 Current 174 557 Non-current 421 - Other income 2020 2019 2018 IESVAP (c) - - 252 IPTAN (c) - - 882 UEPC (a) 104 557 - 104 557 1,134 Lease RVL Esteves Gestão Imobiliária S.A. 11,288 10,417 9,655 UNIVAÇO Patrimonial Ltda. 2,915 2,816 2,625 IESVAP Patrimonial Ltda. 3,470 2,609 1,274 17,673 15,842 13,554 (a) Refers to sales of educational content from Medcel to UEPC recorded in trade receivables (b) Amounts to be reimbursed by the shareholders to Afya Brazil, mainly related to payments of legal cost and advisory services recorded in other assets. (c) Refers to share services and corporate expenses provided by Afya Brazil to IPTAN and IESVAP for the periods prior to their acquisition on April 26, 2018 recorded in the consolidated statements of income.
Schedule of key management personnel compensation	Key management personnel compensation included in the Company’s consolidated statement of income comprised the following: 2020 2019 2018 Short-term employee benefits 9,629 4,947 2,681 Share-based compensation plans 23,989 13,893 2,161 33,618 18,840 4,842

9 Investment in associate (Tabl

9 Investment in associate (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of associates [abstract]
Schedule of investments	The following table illustrates the summarized financial information of the Company’s investment in UEPC: December 31, 2020 December 31, 2019 Current assets 55,413 26,762 Non-current assets 82,575 77,031 Current liabilities (34,531) (29,328) Non-current liabilities (76,132) (66,294) Equity 27,325 8,171 Company’s share in equity – 30% 8,227 2,451 Goodwill 43,183 43,183 Carrying amount of the investment 51,410 45,634 Net revenue 113,965 85,816 Cost of services (55,926) (39,459) General and administrative expenses (27,341) (29,476) Finance result (4,882) (4,121) Income before income taxes 25,816 12,760 Income taxes expenses (252) (2,275) Net income for the year 25,564 10,485 Company’s share of income for the year 7,698 2,362 December 31, 2020 December 31, 2019 Opening balance 45,634 - Acquisition of minority interest (15%) in March 2019 - 24,458 Acquisition of additional minority interest (15%) in June 2019 - 24,457 Dividends receivable (included in Other assets) (1,922) (5,643) Share of income 7,698 2,362 Closing balance 51,410 45,634

10 Property and equipment (Tabl

10 Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Schedule of detailed information about property, plant and equipment	Cost Building Machinery and equipment Lands Vehicles Furniture and fixtures IT equipment Library books Laboratories and clinics Leasehold improvements Construction in progress Total As of January 1, 2018 - 20,135 - 120 8,357 6,494 10,016 - 7,094 1,187 53,403 Additions - 3,226 2,770 - 1,023 1,728 949 - 1,940 7,918 19,554 Transfer - - - - - - - 2,271 (2,271) - Business combinations - 7,142 - 62 2,517 2,021 1,873 597 577 3,902 18,691 As of December 31, 2018 - 30,503 2,770 182 11,897 10,243 12,838 597 11,882 10,736 91,648 Additions - 9,838 4,235 422 6,976 4,241 1,205 34 4,488 25,525 56,964 Transfers - - - - - (525) - - - - (525) Business combinations - 3,988 - 103 2,565 2,035 4,096 418 14,541 470 28,216 As of December 31, 2019 - 44,329 7,005 707 21,438 15,994 18,139 1,049 30,911 36,731 176,303 Additions - 13,806 672 - 4,550 9,657 1,012 - 54,748 5,387 89,832 Business combinations 6,771 8,973 5,724 508 3,061 2,493 2,473 - 12,787 5,090 47,880 Transfer 19,148 1,395 - - 82 367 - (1,049) 23,559 (43,502) - As of December 31, 2020 25,919 68,503 13,401 1,215 29,131 28,511 21,624 - 122,005 3,706 314,015 Depreciation As of January 1, 2018 - (7,810) - (49) (3,449) (3,472) (6,012) - (136) - (20,928) Depreciation - (1,886) - (10) (812) (1,017) (1,003) (27) (202) - (4,957) As of December 31, 2018 - (9,696) - (59) (4,261) (4,489) (7,015) (27) (338) - (25,885) Depreciation - (4,097) - - (1,629) (2,495) (1,648) (359) (1,317) - (11,545) Disposals - - - - - 447 - - - - 447 As of December 31, 2019 - (13,793) - (59) (5,890) (6,537) (8,663) (386) (1,655) - (36,983) Depreciation - (5,065) - (112) (2,199) (4,314) (2,154) (78) (2,729) - (16,651) Transfer - (464) - - - - - 464 - - - As of December 31, 2020 - (19,322) - (171) (8,089) (10,851) (10,817) - (4,384) - (53,634) Net book value As of December 31, 2020 25,919 49,181 13,401 1,044 21,042 17,660 10,807 - 117,621 3,706 260,381 As of December 31, 2019 - 30,536 7,005 648 15,548 9,457 9,476 663 29,256 36,731 139,320

11 Intangible assets and good_2

11 Intangible assets and goodwill (Tables)	12 Months Ended
	Dec. 31, 2020
Intangible assets and goodwill [abstract]
Schedule of intangible assets	Goodwill Licenses with indefinite useful life Trademarks Customer relationships Software Education content Developed technology Educational platform and software in progress Total Cost As of January 1, 2018 - - - - 6,633 - - - 6,633 Additions - - - - 1,301 - - 1,752 3,053 Business combinations 169,535 445,616 - 63,303 354 - - - 678,808 As of December 31, 2018 169,535 445,616 - 63,303 8,288 - - 1,752 688,494 Additions (i) (ii) 4,030 108,000 - - 1,101 - - 9,644 122,775 Business combinations 285,844 150,156 32,111 62,110 - 17,305 - 2,845 550,371 As of December 31, 2019 459,409 703,772 32,111 125,413 9,389 17,305 - 14,241 1,361,640 Additions - - - - 4,175 - - 15,474 19,649 Disposals - - - - (460) - - - (460) Business combinations 351,247 747,498 42,903 158,126 3,117 - 355 484 1,303,730 As of December 31, 2020 810,656 1,451,270 75,014 283,539 16,221 17,305 355 30,199 2,684,559 Amortization As of January 1, 2018 - - - - (1,904) - - - (1,904) Amortization - - - (2,945) (1,176) - - - (4,121) As of December 31, 2018 - - - (2,945) (3,080) - - - (6,025) Amortization - - (1,150) (34,927) (1,456) (4,876) - (868) (43,277) As of December 31, 2019 - - (1,150) (37,872) (4,536) (4,876) - (868) (49,302) Amortization - - (2,352) (47,960) (2,180) (2,816) (32) (7,367) (62,707) Disposals - - - - 460 - - - 460 As of December 31, 2020 - - (3,502) (85,832) (6,256) (7,692) (32) (8,235) (111,549) Net book value As of December 31, 2020 810,656 1,451,270 71,512 197,707 9,965 9,613 323 21,964 2,573,010 As of December 31, 2019 459,409 703,772 30,961 87,541 4,853 12,429 - 13,373 1,312,338 (i) The amount of R$4,030 added to goodwill relates to adjustments during the measurement period of the business combination of IESP in respect to amounts to be included as part of the purchase price allocation at acquisition date mainly related to impairment of receivables. (ii) On August 13, 2019, Afya Brazil entered into a purchase agreement with the shareholders of IPEC for the acquisition of 100% of IPEC. IPEC was a non-operational postsecondary education institution with governmental authorization to offer on-campus post-secondary undergraduate courses in medicine in the State of Pará, that commenced its operation in September 2019. Prior to the acquisition date, IPEC has no significant assets and liabilities. The purchase price of R$ 108,000 is comprised of: i) R$ 54,000 paid in cash on the acquisition date; ii) R$ 54,000 is payable in two equal instalments of R$ 27,000 payable annually from August 13, 2020 to August 13, 2021, and adjusted by the CDI rate. The instalment due in August 2020 was paid in the total amount of R$28,104.
Schedule of assumptions for impairment test	The carrying amounts of goodwill and licenses with indefinite useful life by CGU and their value in use and the discount rates used for the impairment assessment as of December 31, 2020 and 2019 was: Carrying amount CGU Goodwill Licenses with indefinite useful life CGU 2020 2019 2020 2019 2020 2019 IPTAN 17,446 17,446 57,214 57,214 126,397 110,224 IESVAP 27,956 27,956 81,366 81,366 112,898 119,129 CCSI 4,664 4,664 56,737 56,737 48,411 68,354 IESP 73,838 73,838 179,693 179,693 380,410 251,364 FADEP 49,661 49,661 70,606 70,606 160,787 133,996 Medcel and CBBW* 139,294 139,294 - - 219,359 213,881 FASA 58,903 58,903 144,507 150,156 267,279 227,271 ESMC - - 5,649 - 7,230 - IPEMED 87,647 87,647 - - 119,227 106,924 IPEC - - 108,000 108,000 122,325 106,964 UniRedentor 77,662 - 121,477 - 253,370 - UniSL 4,420 - 249,387 - 258,234 - PEBMED 84,175 - - - 143,328 - FESAR 71,664 - 141,616 - 263,914 - FCMPB 110,483 - 235,018 - 380,682 - Medphone 2,843 - - - 6,477 - *CBBW as merged by Medcel on May 1, 2020.
Schedule of estimated useful lives	The estimated useful lives of intangible assets are as follows: Customer relationships – medicine 6 years Customer relationships – other courses 4.5 years Software license 5 years Education content 3 years Trademarks 19 - 20 years Developed technology 5 years

12 Financial assets and finan_2

12 Financial assets and financial liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Assets And Financial Liabilities
Schedule of financial assets	12.1 Financial assets Financial assets 2020 2019 At amortized cost Cash and cash equivalents 1,045,042 943,209 Restricted cash 2,053 16,841 Trade receivables 309,944 135,240 Total 1,357,039 1,095,290 Current 1,347,359 1,083,436 Non-current 9,680 11,854
Schedule of financial liabilities	12.2 Financial liabilities Financial liabilities 2020 2019 At amortized cost Trade payables 35,743 17,628 Loans and financing 617,485 60,357 Lease liabilities 447,703 284,515 Accounts payable to selling shareholders 518,240 300,237 Notes payable 76,181 - Advances from customers 63,839 36,860 Total 1,759,191 699,597 Current 467,643 262,671 Non-current 1,291,548 436,926 Derivatives not designated as hedging instruments Cross-currency interest rate swaps - 757 Total - 757 Current - 757 Non-current - -
Schedule of loans and financing	12.2.1 Loans and financing Financial institution Currency Interest rate Maturity 2020 2019 Itaú Unibanco S.A. (e) Euro 1.01% p.y. 2020 - 52,959 Itaú Unibanco S.A. Brazilian real 1.22% a 1.26% p.m. 2020 - 648 FINEP (d) Brazilian real TJLP p.y. 2027 10,864 6,750 BNDES (c) Brazilian real 10.03% p.y. 2024 471 - Banco Votorantim (b) Brazilian real CDI + 1.65% p.y. 2021 101,785 - Itaú Unibanco S.A. (a) Brazilian real CDI + 1.62% p.y. 2023 504,365 - 617,485 60,357 Current 107,162 53,607 Non-current 510,323 6,750 (a) On October 1, 2020, Afya Brazil entered into a loan with Banco Itaú Unibanco S.A. in the amount of R$ 500,000 adjusted by the CDI rate plus (b) On July 3, 2020, Afya Brazil entered into a loan agreement with Banco Votorantim S.A. in the amount of R$ 100,000 adjusted by the CDI rate plus an interest rate of 1.65% per year and is repayable at maturity on July 5, 2021. (c) On May 5, 2020, as a result of the acquisition of UniSL, the Company assumed loans agreements BNDES which has an interest rate of 10.03% per year and maturity in 2024. (d) On July 23, 2019, Medcel entered into a loan of R$ 16,153 with Financiadora de Estudos e Projetos (“FINEP”), a governmental agency focused on financing investments on R&D, which has an interest rate based on TJLP (Long term interest rate), 2019 and maturity in 2027. The first and second tranches of R$6,734 and R$4,130, respectively, were drawdown in October 2019 and December 2020, respectively, in order to develop the Medical web series and other digital content. There is no financial covenant related to this agreement. The loan is guaranteed by bank warranty in the amount of R$ 10,864. (e) On November 16, 2018, Afya Brazil entered into a euro-denominated loan agreement with Itaú Unibanco S.A. in the amount of R$ 74,980 (equivalent to €17,500). The loan accrues interest at 1.01% per annum and is repayable in three equal installments on November 18, 2019, May 18, 2020 and November 12, 2020. The loan agreement contains a financial covenant requiring Afya Brazil to maintain a Net Debt to EBITDA ratio less or equal to: 2.2x at end of 2018 and 2019 and 1.8x at the end of 2020. The loan was guaranteed by financial investments, classified as restricted cash, in the amount of R$14,788 as of December 31, 2019. This loan was repaid on November 12, 2020.
Schedule of summarizes the notional and fair value amounts of the swap agreements	Fair value Cross-currency interest rate swap agreements Principal amount (notional) 2020 2019 Asset position: Euros + 1.01% p.y. 49,165 - 53,045 Liability position: 128% of CDI (49,165) - (53,802) Net position – assets (liabilities) - (757) Current assets (liabilities) - (757) Noncurrent assets (liabilities) - -
Schedule of right-of-use assets and lease liabilities	Set out below are the carrying amounts of right-of-use assets and lease liabilities and the movements during the period: Right-of-use assets Lease liabilities As at January 1, 2019 212,360 212,360 Additions 19,100 19,100 Business combinations 61,145 61,365 Depreciation expense (18,330) - Interest expense - 31,469 Payments of lease liabilities - (39,779) As at December 31, 2019 274,275 284,515 Additions 64,743 64,743 Remeasurement 34,161 34,161 Business combinations 76,855 76,855 Depreciation expense (29,386) - Interest expense - 44,458 Payments of lease liabilities - (55,455) Disposals (1,574) (1,574) As at December 31, 2020 419,074 447,703 As at December 31, 2019 Current - 22,693 Non-current 274,275 261,822 As at December 31, 2020 Current - 61,976 Non-current 419,074 385,727
Schedule of accounts payable to selling shareholders	12.2.3 Accounts payable to selling shareholders 2020 2019 - Acquisition of IESP (a) 38,771 75,450 Acquisition of FADEP (b) - 18,745 Acquisition of FASA (c) 70,356 105,306 Acquisition of IPEMED (d) 38,622 45,646 Acquisition of IPEC (e) 28,307 55,090 Acquisition of UniRedentor (f) 97,773 - Acquisition of UniSL (g) 53,386 - Acquisition of FCMPB (h) 189,420 - Acquisition of FESAR (i) 1,569 - Acquisition of MEDPHONE (j) 36 - 518,240 300,237 Current 188,420 131,883 Non-current 329,820 168,354 2020 2019 2018 Opening balance 300,237 177,730 - Cash flows (134,518) (92,688) - Acquisition of IPEC - 54,000 - Interest 13,884 17,977 1,687 Business combinations 343,140 144,538 176,043 Compensation of legal proceedings disbursement (4,503) (1,320) - Closing balance 518,240 300,237 177,730 (a) On November 27, 2018, Afya Brazil acquired 80% of IESP and the amounts of (i) R$8,906 was paid in February 2019, and (ii) R$106,200 is payable in three equal installments of R$35,400, each adjusted by the CDI rate through the payment date. The first and second installments were paid in November 2019 and 2020, respectively, and the remaining installment is due by the end of the third year from the transaction closing date. (b) On December 5, 2018, Afya Brazil acquired 100% of FADEP and the amount of R$52,846 is payable in three equal installments of R$17,615, each adjusted by the SELIC rate through the payment date and due semiannually from the transaction closing date. The first installment was paid in June 2019, the second installment was paid in December 2019, and the last installment was paid in June 2020. (c) On April 3, 2019, Afya Brazil acquired 90% of FASA and R$ 39,695 was paid in April 2020, R$ 29,770 is payable in April 2021, and R$ 29,770 is payable in April 2022; each adjusted by the IPCA rate + 4.1% per year. (d) On May 9, 2019, Afya Brazil acquired 100% of IPEMED and R$ 45,303 is payable in five equal installments of R$ 9,061, adjusted by the CDI rate, and due annually in February 2020, 2021, 2022, 2023 and 2024. (e) On August 13, 2019, Afya Brazil acquired 100% of IPEC and R$54,000 was paid in cash on the transaction closing date, and (ii) R$54,000 is payable in two equal installments, adjusted by the CDI rate, and due annually at the end of the first and the second year from the transaction closing date. (f) On January 31, 2020, Afya Brazil acquired 100% of UniRedentor and R$ 114,607 was paid in cash on the transaction closing date, and the original amount of R$100,000 is payable in five equal installments from January 2021 through July 2024, adjusted by the CDI rate. The purchase consideration was adjusted by R$4,503 and such amount will be deducted from the first installment due in January 2021. (g) On May 5, 2020, Afya Brazil acquired 100% of UniSL. The purchase consideration is R$201,521, of which: R$ 141,065 was paid in cash on the transaction closing date, and R$ 60,456 is payable in three equal installments through May 2023, adjusted by the CDI rate. The purchase consideration was adjusted by R$7,816 and such amount will be deducted from the first installment due in May 2021. (h) On November 9, 2020, Afya Brazil acquired 100% of FCMPB. The net purchase price of R$379,913 was adjusted to R$378,807 , of which: R$ 189, was paid in cash on the transaction closing date, and R$ 188,894 is payable in four installments through November 2024, adjusted by the CDI rate. (i) On November 3, 2020, Afya Brazil acquired 100% of the share capital of FESAR. The aggregate purchase price was R$260,836, including the CDI rate adjustment from the singing and the real state of the operation, estimated at R$ 17,397, of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$1,569 and was paid on February 25, 2021. (j) On November 4, 2020, Afya Brazil acquired 100% of the share capital of MedPhone. The net purchase price was R$6,373 of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$36 and was paid on February 2, 2021.
Schedule of carrying amount of notes payable	Set out below are the carrying amount of notes payable and the movements during the period: Notes payable As at January 1, 2020 - Business combination 80,526 Payments (5,974) Monetary indexation 1,629 As at December 31, 2020 76,181 Current liabilities 10,503 Non-current liabilities 65,678
Schedule of fair values	The table below is a comparison of the carrying amounts and fair values of the Company’s financial instruments, other than those carrying amounts that are reasonable approximation of fair values: 2020 2019 Carrying amount Fair value Carrying amount Fair value Financial assets Restricted cash 2,053 2,053 16,841 16,841 Trade receivables (non-current) 7,627 7,627 9,801 9,801 Total 9,680 9,680 26,642 26,642 Financial liabilities Loans and financing 617,485 637,723 60,357 60,443 Lease liabilities 447,703 447,703 284,515 284,515 Accounts payable to selling shareholders 518,240 518,240 300,237 300,237 Notes payable 76,181 76,181 - - Derivatives - - 757 757 Total 1,659,609 1,679,847 645,866 645,952
Schedule of sensitivity analysis effects on income statement	With all variables held constant, the Company’s income before income taxes is affected through the impact on floating interest rate, as follows: Increase / decrease in basis points Balance as of 12/31/2020 Index – % per year Base rate +75 -75 +150 -150 Cash equivalents 916,790 90.95% CDI 15,843 6,876 (6,876) 13,752 (13,752) Restricted cash 2,053 76.10% CDI 30 15 (15) 31 (31) Loans and financing (10,864) TJLP p.y. (494) (81) 81 (163) 163 Loans and financing (101,785) 1.65%+100%CDI (3,613) (763) 763 (1,527) 1,527 Loans and financing (504,365) 1.62%+CDI (17,754) (3,783) 3,783 (7,565) 7,565 Accounts payable to selling shareholders (447,848) CDI (8,510) (3,359) 3,359 (6,718) 6,718 Accounts payable to selling shareholders (70,356) IPCA+4.1% (2,894) (528) 528 (1,055) 1,055 Notes payable (76,181) IPCA (1,028) (571) 571 (1,143) 1,143
Schedule of currencies used in sensitivity analysis	The following table demonstrates the sensitivity in the Company’s income before income taxes of a 10% change in the U.S. dollar exchange rate (R$5.1961 to U.S. dollar 1.00) as of December 31, 2020 and 2019, with all other variables held constant. Exposure +10% -10% As of December 31, 2020 Cash and cash equivalents 70,523 7,052 (7,052)
Schedule of contractual maturities of financial liabilities	The tables below summarize the maturity profile of the Company’s financial liabilities based on contractual undiscounted amounts: As of December 31, 2020 Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Total Trade payables 35,743 - - - 35,743 Loans and financing 125,137 566,157 4,010 3,094 698,398 Lease liabilities 63,092 131,225 124,114 705,115 1,023,546 Accounts payable to selling shareholders 191,145 262,340 81,153 - 534,638 Notes payable 11,083 83,803 - - 94,886 Advances from customers 63,839 - - - 63,839 490,039 1,043,525 209,277 708,209 2,451,050 As of December 31, 2019 Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Total Trade payables 17,628 - - - 17,628 Loans and financing 54,507 3,537 2,517 1,926 62,487 Lease liabilities 44,139 81,326 76,013 502,831 704,309 Accounts payable to selling shareholders 137,608 182,535 12,072 - 332,215 Advances from customers 36,860 - - - 36,860 Derivatives 757 - - - 757 291,499 267,398 90,602 504,757 1,154,256
Schedule of changes in liabilities arising from financing activities	12.5 Changes In liabilities arising from financing activities January 1, 2020 Payments Addition / Remeasurement Interest Foreign exchange movement Business combination Other December 31, 2020 Loans and financing 60,357 (155,090) 605,041 10,031 21,279 75,815 52 617,485 Lease liabilities 284,515 (55,455) 98,904 44,458 - 76,855 (1,574) 447,703 Dividends payable - (12,984) 12,984 - - - - - Total 344,872 (223,529) 716,929 54,489 21,279 152,670 (1,522) 1,065,188 January 1, 2019 Payments Addition / Remeasurement Interest Foreign exchange movement Business combination Other December 31, 2019 Loans and financing 77,829 (75,093) 7,383 6,025 1,126 43,087 - 60,357 Lease liabilities 212,360 (39,779) 19,100 31,469 - 61,365 - 284,515 Dividends payable 4,107 (51,812) 51,812 - - - (4,107) - Total 294,296 (166,684) 78,295 37,494 1,126 104,452 (4,107) 344,872 January 1, 2018 Payments Addition / Remeasurement Interest Foreign exchange movement Business combination Other December 31, 2018 Loans and financing 3,823 (6,492) 74,980 2,821 2,697 - - 77,829 Related parties 106 (106) - - - - - - Dividends payable 14,888 (5,845) - - - - (4,936) 4,107 Total 18,817 (12,443) 74,980 2,821 2,697 - (4,936) 81,936

13 Fair value measurement (Tabl

13 Fair value measurement (Tables)	12 Months Ended
	Dec. 31, 2020
Changes in fair value measurement, assets [abstract]
Schedule of fair value measurement	The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities as of December 31, 2020 and 2019. Fair value measurement Total Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) December 31, 2020 Assets for which fair values are disclosed Trade receivable (non-current) 7,627 - 7,627 - Restricted Cash 2,053 - 2,053 - Liabilities for which fair values are disclosed Loans and financing (637,723) - (637,723) - Lease liabilities (447,703) - (447,703) - Accounts payable to selling shareholders (518,240) - (518,240) - Notes payable (76,181) - (76,181) - December 31, 2019 Liabilities measured at fair value: Derivative financial liabilities Cross-currency interest rate swaps (757) - (757) - Assets for which fair values are disclosed Restricted cash 16,841 - 16,841 - Trade Receivable (non-current) 9,801 - 9,801 - Liabilities for which fair values are disclosed Loans and financing (60,443) - (60,443) - Lease liabilities (284,515) (284,515) Accounts payable to selling shareholders (300,237) - (300,237) -

14 Capital management (Tables)

14 Capital management (Tables)	12 Months Ended
	Dec. 31, 2020
Capital Management
Schedule of capital management	The Company includes within net debt, loans and financing less cash and cash equivalents and restricted cash. 2020 2019 Loans and financing 617,485 60,357 Lease liabilities 447,703 284,515 Accounts payable to selling shareholders 518,240 300,237 Notes payable 76,181 - Less: cash and cash equivalents (1,045,042) (943,209) Less: restricted cash (2,053) (16,841) Net debt 612,514 (314,941) Total equity 2,833,780 2,113,726 Total equity and net debt 3,446,294 1,798,785

15 Labor and social obligatio_2

15 Labor and social obligations (Tables)	12 Months Ended
	Dec. 31, 2020
Labor And Social Obligations
Schedule of inputs to the model used to determine the fair value of the stock options	The following table list the inputs to the model used to determine the fair value of the stock options: 05/15/2018 02/07/2019 03/29/2019* Weighted average fair value at the measurement date R$ 366.16 R$ 529.12 R$ 684.22 Dividend yield (%) 0.0% 0.0% 0.0% Expected volatility (%) 49.5% 45.5% 43.7% Risk-free interest rate (%) 7.7% 7.6% 7.2% Expected life of stock options (years) 4.0 4.0 4.0 Weighted average share price R$254.13 R$ 368.41 R$ 213.35 Model used Monte Carlo Monte Carlo Black & Scholes *After the corporate reorganization described in Note 1, the options originally granted under the Guardaya’s plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazil’s plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization.
Schedule of illustrates the number and movements in stock options	The following table illustrates the number and movements in stock options during the periods: Number of stock options (i) – 2019 Number of stock options (i) – 2018 Outstanding at January 1 1,291,248 - Granted 293,860 1,434,720 Forfeited - - Addition of Guardaya’s plan 257,320 - Exercised (1,842,428) (143,472) Expired - - Outstanding at December 31 - 1,291,248 (i) The number of common shares outstanding from Afya Brazil was retrospectively adjusted in the proportion of 1:28 due to the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya, which did not result in changes on the arrangements of the plans.
Schedule of share-based compensation plan	The following table illustrates the number and movements in stock options during the period: Weighted average exercise price (in Reais) Number of stock options 2020 2019 Outstanding at January 1 74.53 2,364,214 - Granted 94.55 477,220 2,364,214 Forfeited 74.57 (274,359) - Exercised 96.20 (56,092) - Expired - - Outstanding at December 31 78.22 2,510,983 2,364,214
Schedule of model used to determine the fair value of the stock options	The following table list the inputs to the model used to determine the original fair value of the stock options granted in March 2020 and September 2019: March 2020 September 2019 Strike price at the measurement date US$ 19.00 US$ 19.00 Dividend yield (%) 0.0% 0.0% Expected volatility (%) 39.7% 38.9% Risk-free interest rate (%) 0.8% 1.4% Expected life of stock options (years) 4.0 5.0 Share price at the measurement date US$ 16.30 US$ 21.90 Model used Binomial Binomial Weighted average fair value at the measurement date US$ 3.94 US$ 6.55 The following table list the inputs to the model used to determine the incremental fair value of the stock options as result of the modification: Modified plan Original plan (*) Strike price at the measurement date R$ 74.38 R$ 99.09 Dividend yield (%) 0.0% 0.0% Expected volatility (%) 41% - 76% 42% - 76% Risk-free interest rate (%) 2.0% - 4.9% 0.2% - 0.4% Expected life of stock options (years) 1 – 4 1 – 4 Share price at the measurement date R$ 133.68 R$ 133.68 Model used Binomial Binomial Weighted average fair value at the measurement date R$ 69.54 R$ 57.12 (*) The strike price of the original plan was based in U.S. dollars. The following table list the inputs to the model used to determine the fair value of the stock options granted on August 17,2020, November 26, 2020 and December 16, 2020, which has been granted in line with the modified plan on July 29, 2020: August 2020 November 2020 December 2020 Strike price at the measurement date R$74 – R$122 R$126 R$97 Dividend yield (%) 0.0% 0.0% 0.0% Expected volatility (%) 41% - 75% 40% - 69% 69% Risk-free interest rate (%) 2.2% - 6.1% 2.2% - 6.9% 0.9% Expected life of stock options (years) 1 – 5 1 – 5 1 Share price at the measurement date R$ 136 145.15 R$ 119.78 Model used Binomial Binomial Binomial Weighted average fair value at the measurement date R$ 67.12 R$ 56.43 R$ 40.38

17 Earnings per share (EPS) (Ta

17 Earnings per share (EPS) (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings per share [abstract]
Schedule of earnings per share	The following table reflects the net income and share data used in the basic and diluted EPS calculations: 2020 2019 2018* Numerator Net income attributable to equity holders of the parent 292,075 153,916 86,353 Denominator Weighted average number of outstanding shares 92,683,848 75,969,797 46,936,064 Effects of dilution from stock options 951,920 221,846 840,700 Weighted average number of outstanding shares adjusted for the effect of dilution 93,635,768 76,191,643 47,776,764 Basic earnings per share (R$) 3.15 2.03 1.84 Diluted earnings per share (R$) 3.12 2.02 1.81 * Considers the effects from the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya.

18 Revenue (Tables)

18 Revenue (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue [abstract]
Schedule of net sales revenue	The Company’s net revenue is as follows: 2020 2019 2018 Tuition fees(*) 1,388,735 856,561 385,784 Other 99,817 43,116 4,414 Deductions Granted discounts (89,017) (43,767) (11,104) Early payment discounts (29,299) (8,523) (3,189) Returns (11,437) (7,462) (1,801) Taxes (49,629) (28,157) (24,239) PROUNI (107,979) (61,138) (15,930) Net revenue from contracts with customers 1,201,191 750,630 333,935 Timing of revenue recognition of net revenue from contracts with customers Tuition, digital content and app subscription fees - Transferred over time 1,128,558 713,827 331,045 Other - Transferred at a point in time 72,633 36,803 2,890 (*) As mentioned in Note 1, the Company assessed, in connection with the social distancing requirements, whether it has satisfied all performance obligations of its contracts with customers, according to IFRS15, and concluded it was necessary to defer a portion of it’s net revenues in the second semester of 2020. As result, R$2,361 of net revenue were deferred to the first semester of 2021 and recorded in advances from customers.
Schedule of revenue by segment	Revenue by segment Segments – December 31, 2020 Business Unit 1 Business Unit 2 Elimination (inter-segment transactions) Total Types of services or goods 1,002,461 200,349 (1,619) 1,201,191 Tuition fees 997,055 107,197 - 1,104,252 Other 5,406 93,152 (1,619) 96,939 Timing of revenue recognition 1,002,461 200,349 (1,619) 1,201,191 Transferred over time 997,055 131,503 - 1,128,558 Transferred at a point in time 5,406 68,846 (1,619) 72,633 Segments – December 31, 2019 Business Unit 1 Business Unit 2 Elimination (inter-segment transactions) Total Types of services or goods 653,760 100,750 (3,880) 750,630 Tuition fees 648,957 60,195 - 709,152 Other 4,803 40,555 (3,880) 41,478 Timing of revenue recognition 653,760 100,750 (3,880) 750,630 Transferred over time 648,957 64,870 - 713,827 Transferred at a point in time 4,803 35,880 (3,880) 36,803

19 Expenses and cost by nature

19 Expenses and cost by nature (Tables)	12 Months Ended
	Dec. 31, 2020
Expenses And Cost By Nature
Schedule of expenses by nature	2020 2019 2018 Cost of services (434,654) (308,853) (168,052) General and administrative expenses (402,855) (239,120) (70,034) Total (837,509) (547,973) (238,086) Payroll (446,473) (324,252) (156,623) Hospital and medical agreements (37,988) (16,429) (10,209) Depreciation and amortization (108,744) (73,152) (9,078) Rent (2,555) (4,494) (20,302) Commercial expenses (1,488) (1,363) (362) Utilities (5,892) (6,628) (2,701) Maintenance (20,746) (8,658) (2,373) Share-based compensation (32,610) (18,114) (2,161) Tax expenses (5,326) (2,696) (828) Pedagogical services (24,037) (6,271) (4,212) Sales and marketing (16,873) (11,603) (3,532) Allowance for doubtful accounts (32,081) (15,040) (7,714) Travel expenses (4,550) (7,054) (1,816) Consulting fees (31,276) (13,060) (7,245) Other (66,870) (39,159) (8,930) Total (837,509) (547,973) (238,086)

20 Finance result (Tables)

20 Finance result (Tables)	12 Months Ended
	Dec. 31, 2020
Finance Result
Schedule of finance result	2020 2019 2018 Income from financial investments 24,479 25,965 4,680 Changes in fair value of derivative instruments 20,739 - 1,219 Interest received 11,876 9,680 4,364 Foreign exchange differences - 13,321 - Other 5,196 2,723 165 Finance income 62,290 51,689 10,428 Change in fair value of derivative instruments - (1,780) - Interest expense (25,543) (24,002) (2,404) Interest expense on lease liabilities (44,458) (31,469) - Financial discounts granted (8,081) (923) (1,063) Bank fees (6,333) (2,876) (1,219) Foreign exchange differences (4,613) - (2,697) IOF taxes (taxes on financial transactions) (1,661) (6,801) (355) Other (7,580) (4,514) (416) Finance expenses (98,269) (72,365) (8,154) Finance result (35,979) (20,676) 2,274

21 Income taxes (Tables)

21 Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes
Schedule of reconciliation of income tax expense	The following is a reconciliation of income tax expense to profit (loss) for the year, calculated by applying the combined Brazilian statutory rates at 34% for the years ended December 31, 2020, 2019 and 2018: 2020 2019 2018 Income before income taxes 335,054 186,937 98,722 Combined statutory income taxes rate - % 34% 34% 34% Income taxes at statutory rates (113,918) (63,559) (33,565) Reconciliation adjustments: Tax effect on loss from entities not subject to taxation (8,474) (1,265) - PROUNI - Fiscal Incentive (a) 120,851 73,397 30,564 Unrecognized deferred tax assets (41,319) (19,342) - Presumed profit income tax regime effect (b) (2,640) 351 - Permanent adjustments 2,567 - - Tax effect over pre-acquisition losses 13,893 - - Other 1,973 (3,757) (987) Income taxes expense – current (27,067) (14,175) (3,988) Effective rate 8.08% 7.58% 4.04% (a) The Company adhered to PROUNI, established by Law 11,096 / 2005, which is a federal program that exempt companies of paying income taxes and social contribution. (b) Brazilian tax law establishes that companies that generate gross revenues of up to R$ 78,000 in the prior fiscal year may calculate income taxes as a percentage of gross revenue, using the presumed profit income tax regime. The Company adopted this tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries.

22 Insurance contracts and co_2

22 Insurance contracts and contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance Contracts And Contingencies
Schedule of legal proceedings and contingencies	The provisions related to labor and civil proceedings whose likelihood of loss is assessed as probable are as follows: Labor Civil Taxes Total Balances as of December 31, 2017 297 1,423 - 1,720 Business combinations 2,089 - - 2,089 Additions 13 - - 13 Reversals (166) (191) - (357) Balances as of December 31, 2018 2,233 1,232 - 3,465 Business combinations 3,301 1,071 - 4,372 Additions 737 1,508 - 2,245 Reversals (3,770) (1,043) - (4,813) Balances as of December 31, 2019 2,501 2,768 - 5,269 Business combinations 2,741 2,348 27,487 32,576 Additions* 562 10,869 7,853 19,284 Reversals (1,285) (2,705) - (3,990) Balances as of December 31, 2020 4,519 13,280 35,340 53,139 *The total amount of R$ 9,940 are related to legal proceedings attributed to the selling shareholders administration. The same amount was recorded as indemnification assets in the balance sheet in other assets.
Schedule of social security proceedings assessed by Management	There are other civil, labor, taxes and social security proceedings assessed by Management and its legal counsels as possible risk of loss, for which no provisions are recognized, as follows: 2020 2019 Labor 2,318 3,570 Civil 59,969 39,135 Taxes and social security 4,375 7,583 Total 66,662 50,288

1 Corporate information (Detail

1 Corporate information (Details Narrative) $ / shares in Units, R$ in Thousands, $ in Thousands

Nov. 09, 2020

Nov. 03, 2020

Oct. 22, 2020BRL (R$)

Jul. 20, 2020

May 05, 2020

Mar. 10, 2020USD ($)shares

Mar. 10, 2020BRL (R$)shares

Feb. 06, 2020USD ($)$ / sharesshares

Feb. 06, 2020BRL (R$)shares

Jul. 23, 2019USD ($)shares

Jul. 23, 2019BRL (R$)shares

Jul. 07, 2019

Jun. 18, 2019

Apr. 03, 2019

Mar. 29, 2019

Nov. 05, 2020

Dec. 31, 2020BRL (R$)shares

Dec. 31, 2019BRL (R$)shares

Jan. 31, 2020

Jul. 18, 2019shares

Dec. 31, 2018shares

Disclosure of subsidiaries [line items]

Deferred revenues

R$ 2361

Amount of legal proceedings

R$ 6545

Description of exchanging and rights of shares

Exchanging one common share as 28 Class A or Class B common shares

Number of shares issed (shares) | shares

93,146,731

89,744,275

1,443,541

Share issuance costs

R$ 19704

R$ 79670

Transferred amount to bank accounts

R$ 961438

Guardaya empreendimentos and participacoes s.a. ("guardaya") [member]

Disclosure of subsidiaries [line items]

Percentage of voting equity interests acquired

100.00%

Sociedade universitaria redentor s.a. (uniredentor) [member]

Disclosure of subsidiaries [line items]

Percentage of voting equity interests acquired

100.00%

Sociedade padrao de educacao Superior ltda [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The purchase price is R$ 360,000, adjusted by the Net Debt at the closing date, of which: (i) 100% is payable in cash on the transaction closing date.

Amount of purchase price

R$ 360000

Uniao educacional do planalto central s.a. ("UEPC") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

15.00%

15.00%

Percentage of voting equity interests acquired

30.00%

15.00%

Guardaya empreendimentos and participacoes s.a. ("guardaya") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Medcel editora and CBB web [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Percentage of voting equity interests acquired

100.00%

Instituto educacional santo agostinho s.a. ("FASA") [member]

Disclosure of subsidiaries [line items]

Description of acquiree

The purchase price of R$ 201,565 is comprised by: i) R$ 102,330 paid in cash on the acquisition date; ii) R$ 39,695 payable in April 2020; iii) R$ 29,770 payable in April 2021; and iv) R$ 29,770 payable in April 2022, adjusted by the IPCA rate + 4.1% per year. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations. There isare no contingent consideration associated with the acquisition of FASA.

Percentage of voting equity interests acquired

90.00%

Centro Universitario Sao Lucas Ltda ("UniSL") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Instituicao de pesquisa medica e servicos tecnologicos da area da saude s.a. ("PEBMED") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Faculdade de Ensino Superior da Amazonia Reunida ("FESAR") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Faculdade de Ciencias Medicas da Paraiba ("FCMPB") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Percentage of revenue generated

99.00%

MedPhone Tecnologia em Saude Ltda ("MedPhone") [member]

Disclosure of subsidiaries [line items]

Proportion of ownership interest in subsidiary

100.00%

Class A common shares [member]

Disclosure of subsidiaries [line items]

Number of shares issed (shares) | shares

13,888,887

13,888,887

Class A common shares [member] | Initial public offering [member]

Disclosure of subsidiaries [line items]

Number of shares issed (shares) | shares

15,805,841

15,805,841

13,744,210

Proceeds from issue of shares

R$ 992778

Net proceeds from issue of shares

913,108

Fee and commission expense

59,566

Other offering expenses

20,104

Share issuance costs

R$ 79670

Number of additional common shares issued | shares

3,019,928

3,019,928

Class A common shares [member] | Initial public offering [member] | Underwriters [member]

Disclosure of subsidiaries [line items]

Number of shares issed (shares) | shares

1,916,954

1,916,954

Other offering expenses

R$ 1066

Additional shares gross proceeds

30,884

Net proceeds of additional shares

R$ 29819

Class A common shares [member] | Initial public offering [member] | Shareholders [member]

Disclosure of subsidiaries [line items]

Other offering expenses

R$ 18638

Number of additional common shares issued | shares

9,406,812

9,406,812

Additional shares gross proceeds

R$ 358286

Net proceeds of additional shares

R$ 339648

Class A common shares [member] | Over allotments [member] | Underwriters [member]

Disclosure of subsidiaries [line items]

Number of shares issed (shares) | shares

2,061,631

2,061,631

Class A common shares [member] | USD [member] | Initial public offering [member]

Disclosure of subsidiaries [line items]

Proceeds from issue of shares | $

$ 263,888

Net proceeds from issue of shares | $

242,711

Fee and commission expense | $

15,833

Other offering expenses | $

$ 5,344

Class A common shares [member] | USD [member] | Initial public offering [member] | Underwriters [member]

Disclosure of subsidiaries [line items]

Other offering expenses | $

$ 228

Number of additional common shares issued | shares

240,552

240,552

Additional shares gross proceeds | $

$ 6,615

Net proceeds of additional shares | $

6,387

Class A common shares [member] | USD [member] | Initial public offering [member] | Shareholders [member]

Disclosure of subsidiaries [line items]

Other offering expenses | $

$ 4,202

Additional offering price | $ / shares

$ 27.50

Additional shares gross proceeds | $

$ 83,048

Net proceeds of additional shares | $

$ 78,846

Class A common shares [member] | BRAZIL [member]

Disclosure of subsidiaries [line items]

Proceeds from issue of shares

R$ 294312

Class A common shares [member] | BRAZIL [member] | USD [member]

Disclosure of subsidiaries [line items]

Proceeds from issue of shares | $

$ 68,060

Class B common shares [member]

Disclosure of subsidiaries [line items]

Description of exchanging and rights of shares

Class B common shares is entitled to 10 votes per share

2 Significant accounting poli_4

2 Significant accounting policies (Details)		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Sociedade universitaria redentor s.a. ("uniredentor") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary	[1]	Sociedade Universitária Redentor S.A. (“UniRedentor”)
Principal activities	[1]	Undergraduate and graduate degree programs
Location of subsidiary	[1]	Itaperuna - RJ
Investment type	[1]	Subsidiary
Direct and indirect interest of subsidiary	[1]	100.00%
ESMC educacao superior ltda [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary	[2]	ESMC Educação Superior Ltda
Principal activities	[2]	Undergraduate and graduate degree programs
Location of subsidiary	[2]	Montes Claros - MG
Investment type	[2]	Subsidiary
Direct and indirect interest of subsidiary	[2]	100.00%
Medcel editora e eventos s.a. ("MEDCEL") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Medcel Editora e Eventos S.A. (“Medcel”)
Principal activities		Medical education content
Location of subsidiary		S?o Paulo- SP
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%	[3]		[3]
CBB web servicos e transmissoes online s.a. ("CBBW") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary	[4]	CBB Web Serviços e Transmissões Online S.A. (“CBBW”)
Principal activities	[4]	Medical education courses and online platform
Location of subsidiary	[4]	S?o Paulo- SP
Investment type	[4]	Subsidiary
Direct and indirect interest of subsidiary			[4]	100.00%	[3]		[3]
RD administracao e participacoes ltda. [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary	[5]	RD Administração e Participações Ltda. (“RD”)
Principal activities	[5]	Holding
Location of subsidiary	[5]	Pato Branco - PR
Investment type	[5]	Subsidiary
Direct and indirect interest of subsidiary	[5]			100.00%		100.00%
Centro de ciencias em saude de itajuba s.a. ("CCSI") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Centro de Ciências em Saúde de Itajubá S.A. (“CCSI”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Itajub? - MG
Investment type		Subsidiary
Direct and indirect interest of subsidiary		60.00%		60.00%		60.00%
Instituto de ensino superior do piaui s.a. ("IESP") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto de Ensino Superior do Piauí S.A. (”IESP”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Teresina - PI
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		80.00%	[6]
FADEP - faculdade educacional de pato branco ltda. ("FADEP") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		FADEP - Faculdade Educacional de Pato Branco Ltda. (“FADEP”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Pato Branco - PR
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		100.00%
Instituto de educacao superior do vale do parnaiba s.a. ("IESVAP") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto de Educação Superior do Vale do Parnaíba S.A. (“IESVAP”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Parna?ba - PI
Investment type		Subsidiary
Direct and indirect interest of subsidiary		80.00%		80.00%		80.00%
Instituto educacional santo agostinho s.a. ("FASA") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto Educacional Santo Agostinho S.A. (“FASA”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Montes Claros - MG
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%	[3]		[3]
Instituto de pesquisa e ensino medico do estado de minas gerais ltda. ("IPEMED") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto de Pesquisa e Ensino Médico do Estado de Minas Gerais Ltda. (“IPEMED”)
Principal activities		Post-graduate
Location of subsidiary		Belo Horizonte - MG
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%	[3]		[3]
Instituto paraense de educacao e cultura ltda. (IPEC) [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto Paraense de Educa??o e Cultura Ltda. (IPEC)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Marab? - PA
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%	[7]		[7]
Uniao educacional do vale do aco s.a. - UNIVACO [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		União Educacional do Vale do Aço S.A. – (“UNIVAÇO”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Ipatinga - MG
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		76.00%
Instituto tocantinense presidente antonio carlos s.a. - ITPAC araguaina [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto Tocantinense Presidente Antônio Carlos S.A. – (“ITPAC Araguaina”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Aragua?na - TO
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		100.00%
IPTAN - instituto de ensino superior presidente trancredo de almeida neves s.a. ("IPTAN") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		IPTAN - Instituto de Ensino Superior Presidente Tancredo de Almeida Neves S.A. (“IPTAN”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		S?o Jo?o Del Rei - MG
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		100.00%
Instituto tocantinense presidente antonio carlos porto s.a. - itpac porto nacional [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Instituto Tocantinense Presidente Antônio Carlos Porto S.A. – (“ITPAC Porto”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Porto Nacional - TO
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		100.00%
Afya participacoes s.a (afya brazil) [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Afya Participa??es S.A (Afya Brazil)
Principal activities		Holding
Location of subsidiary		Nova Lima - MG
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%		100.00%		100.00%
Centro universitario Sao lucas ltda. ("unisl") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary	[1]	Centro Universitário São Lucas Ltda. (“UniSL”)
Principal activities	[1]	Undergraduate and graduate degree programs
Location of subsidiary	[1]	Porto Velho - RO
Investment type	[1]	Subsidiary
Direct and indirect interest of subsidiary	[1]	100.00%
PEBMED instituicao de pesquisa medica e servicos tecnologicos da area da saude s.a. ("PEBMED") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary	[1]	PEBMED Instituição de Pesquisa Médica e Serviços Tecnológicos da área da Saúde S.A. (“PEBMED”)**
Principal activities	[1]	Content and clinical tools and online platform
Location of subsidiary	[1]	Rio de Janeiro – RJ
Investment type	[1]	Subsidiary
Direct and indirect interest of subsidiary	[1]	100.00%
Centro Superior de Ciencias da Saude S/S Ltda (FCMPB) [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Centro Superior de Ciencias da Saude S/S Ltda (FCMPB)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		João Pessoa – PB
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%
Faculdade de Ensino Superior da Amazonia Reunida ("FESAR") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		Faculdade de Ensino Superior da Amazônia Reunida – (“FESAR”)
Principal activities		Undergraduate and graduate degree programs
Location of subsidiary		Redenção – PA
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%
MedPhone Tecnologia em Saude Ltda ("MedPhone") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of Subsidiary		MedPhone Tecnologia em Saúde Ltda. (“MedPhone”)
Principal activities		Content and clinical tools and online platform
Location of subsidiary		Recife – PE
Investment type		Subsidiary
Direct and indirect interest of subsidiary		100.00%
Uniao educacional do planalto central s.a. ("UEPC") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Name of associate		União Educacional do Planalto Central S.A. (“UEPC”)
Principal activities		Undergraduate and graduate degree programs
Location of associate		Bras?lia - DF
Investment type		Associate
Direct and indirect interest of associate		30.00%		30.00%
[1]	See Note 5.1 for further details on the business combinations during 2020.
[2]	On January 1, 2020, Afya Brazil incorporated ESMC Educacao Superior Ltda. ("ESMC") and transferred the two FASA campuses located in the State of Minas Gerais, which do not offer medicine courses, to ESMC. This spin-off did not have an impact on the consolidated financial statements.
[3]	See Note 5 for further details on the business combinations during 2019.
[4]	CBBW was merged by Medcel on May 1, 2020.
[5]	RD Administracao e Participacoes Ltda was merged by Afya Brazil on December 15, 2020.
[6]	See Note 17 for further details on the acquisition of minority interest during 2019.
[7]	See Note 12 for further details on the acquisition of assets related to licenses with indefinite useful life in 2019.

2 Significant accounting poli_5

2 Significant accounting policies (Details 1)	12 Months Ended
	Dec. 31, 2020
Building [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	25 years
Machinery and equipment [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	10 years
Vehicles [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	4 years
Furniture and fixtures [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	10 years
IT equipment [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	5 years
Library books [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	10 years
Laboratories and clinics [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	10 years
Leasehold improvements [member]
SignificantAccountingPoliciesLineItems [Line Items]
Useful lives of assets	20 years

2 Significant accounting poli_6

2 Significant accounting policies (Details Narrative)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SignificantAccountingPoliciesLineItems [Line Items]
Tax rate	34.00%	34.00%	34.00%
Lease term	1 year	1 year
Teaching activities [member] | Program of social integration ("pis") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Tax rate	0.65%
Teaching activities [member] | Contribution for the financing of social security ("COFINS") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Tax rate	3.00%
Non-teaching activities [member] | Program of social integration ("pis") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Tax rate	1.65%
Non-teaching activities [member] | Contribution for the financing of social security ("COFINS") [member]
SignificantAccountingPoliciesLineItems [Line Items]
Tax rate	7.60%

4 Segment information (Details)

4 Segment information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Disclosure of operating segments [line items]
Total assets	R$ 4793093		R$ 2912453
Current assets	1,405,501		1,111,765
Non-current assets	3,387,592		1,800,688
Total liabilities and equity	4,793,093		2,912,453
Current liabilities	589,379		333,229
Non-current liabilities	1,369,934		465,498
Equity	2,833,780		2,113,726		R$ 590354	R$ 46762
Investments in associate	51,410		45,634
Capital expenditures	109,481	[1]	175,709	[2]
Operating segments [member] | Business unit one [member]
Disclosure of operating segments [line items]
Total assets	4,541,988		2,714,161
Current assets	1,280,342		1,026,857
Non-current assets	3,261,646		1,687,304
Total liabilities and equity	4,541,988		2,714,161
Current liabilities	522,522		312,303
Non-current liabilities	1,261,894		360,005
Equity	2,757,572		2,041,853
Investments in associate	51,410		45,634
Capital expenditures	82,916	[1]	167,427	[2]
Operating segments [member] | Business unit two [member]
Disclosure of operating segments [line items]
Total assets	251,220		199,285
Current assets	125,274		85,901
Non-current assets	125,946		113,384
Total liabilities and equity	251,220		199,285
Current liabilities	66,972		21,919
Non-current liabilities	108,040		105,493
Equity	76,208		71,873
Investments in associate
Capital expenditures	26,565	[1]	8,282	[2]
Operating segments [member] | Total reportable segments [member]
Disclosure of operating segments [line items]
Total assets	4,793,208		2,913,446
Current assets	1,405,616		1,112,758
Non-current assets	3,387,592		1,800,688
Total liabilities and equity	4,793,208		2,913,446
Current liabilities	589,494		334,222
Non-current liabilities	1,369,934		465,498
Equity	2,833,780		2,113,726
Investments in associate	51,410		45,634
Capital expenditures	109,481	[1]	175,709	[2]
Elimination inter-segment transactions [member]
Disclosure of operating segments [line items]
Total assets	(115)		(993)
Current assets	(115)		(993)
Non-current assets
Total liabilities and equity	(115)		(993)
Current liabilities	(115)		(993)
Non-current liabilities
Equity
Investments in associate
Capital expenditures		[1]		[2]
[1]	Capital expenditures consider the acquisitions of property and equipment and intangible assets.
[2]	Capital expenditures consider the acquisitions of property and equipment and intangible assets, including the acquisition of IPEC licenses in the amount of R$ 108,000 (R$ 54,000 paid and included in the acquisition of intangible assets in the cash flows used in investing activities) as described in Note 11.

4 Segment information (Details

4 Segment information (Details 1) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Disclosure of operating segments [line items]
External costumer	R$ 1201191	R$ 750630
Inter-segment
Net revenue	1,201,191	750,630		R$ 333935
Cost of services	(434,654)	(308,853)		(168,052)
Gross profit	766,537	441,777		165,883
General and administrative expenses	(402,855)	(239,120)		(70,034)
Other expenses, net	(347)	2,594
Operating profit	363,335	205,251		96,448
Finance income	62,290	51,689		10,428
Finance expenses	(98,269)	(72,365)
Share of income of associate	7,698	2,362
Income before income taxes	335,054	186,937		98,722
Income taxes expense	(27,067)	(14,175)		(3,988)
Net income	307,987	172,762		R$ 94734
Operating segments [member] | Business unit one [member]
Disclosure of operating segments [line items]
External costumer	1,002,461	653,760
Inter-segment
Net revenue	1,002,461	653,760
Cost of services	(381,964)	(279,066)
Gross profit	620,497	374,694
General and administrative expenses
Other expenses, net
Operating profit
Finance income
Finance expenses
Share of income of associate
Income before income taxes
Income taxes expense
Net income
Operating segments [member] | Business unit two [member]
Disclosure of operating segments [line items]
External costumer	198,730	96,870
Inter-segment	1,619	3,880
Net revenue	200,349	100,750
Cost of services	(54,309)	(33,667)
Gross profit	146,040	67,083
General and administrative expenses
Other expenses, net
Operating profit
Finance income
Finance expenses
Share of income of associate
Income before income taxes
Income taxes expense
Net income
Operating segments [member] | Total reportable segments [member]
Disclosure of operating segments [line items]
External costumer	1,201,191	750,630
Inter-segment	1,619	3,880
Net revenue	1,202,810	754,510
Cost of services	(436,273)	(312,733)
Gross profit	766,537	441,777
General and administrative expenses
Other expenses, net
Operating profit
Finance income
Finance expenses
Share of income of associate
Income before income taxes
Income taxes expense
Net income
Adjustments and eliminations [member]
Disclosure of operating segments [line items]
External costumer			[1]
Inter-segment	(1,619)	(3,880)	[1]
Net revenue	(1,619)	(3,880)	[1]
Cost of services	1,619	3,880	[1]
Gross profit			[1]
General and administrative expenses
Other expenses, net
Operating profit
Finance income
Finance expenses
Share of income of associate
Income before income taxes
Income taxes expense
Net income
[1]	These eliminations are related to sale transactions from Medcel to other entities in Business Unit 1.

4 Segment information (Detail_2

4 Segment information (Details Narrative) R$ in Thousands	12 Months Ended
	Dec. 31, 2020Number	Dec. 31, 2019BRL (R$)
Disclosure of operating segments [line items]
Number of reportable segments | Number	2
IPEC Licenses [Member]
Disclosure of operating segments [line items]
Capital expense on acquisitions of property and equipment		R$ 108000
Capital expense on acquisitions of intangible assets		R$ 54000

5 Business combinations (Detail

5 Business combinations (Details) - BRL (R$) R$ in Thousands		Nov. 09, 2020	Nov. 05, 2020	Nov. 03, 2020	Jul. 20, 2020	May 05, 2020	Jan. 31, 2020	Dec. 31, 2020
Liabilities
Notes payable								R$ 76181
Sociedade Universitaria Redentor S.A. ("UniRedentor") [member]
Assets
Cash and cash and equivalents	[1]						R$ 11796
Trade receivables	[1]						4,800
Inventories	[1]
Recoverable taxes	[1]						3
Other assets	[1]						2,486
Indemnification assets	[1]						710
Right-of-use assets	[1]						10,265
Property and equipment	[1]						4,207
Intangible assets	[1]						142,399
Total Assets	[1]						176,666
Liabilities
Trade payables	[1]						(746)
Loans and financing	[1]						(16,187)
Lease liabilities	[1]						(10,265)
Labor and social obligations	[1]						(4,471)
Taxes payable	[1]						(850)
Provision for legal proceedings	[1]						(710)
Advances from customers	[1]						(10,994)
Notes payable	[1]
Other liabilities	[1]
Total Liabilites	[1]						(44,223)
Total identifiable net assets at fair value	[1]						132,443
Preliminary goodwill arising on acquisition	[1]						77,662
Purchase consideration transferred	[1]						210,105
Cash paid	[1]						114,607
Payable in installments	[1]						95,498
Paid in Afya Brazil's shares	[1]
Analysis of cash flows on acquisition:
Transaction costs (included in cash flows from operating activities)	[1]						(1,380)
Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities)	[1]						(102,811)
Net of cash flow on acquisition	[1]						R$ 104191
Centro Universitario Sao Lucas Ltda ("UniSL") [member]
Assets
Cash and cash and equivalents	[2]					R$ 3245
Trade receivables	[2]					21,567
Inventories	[2]					467
Recoverable taxes	[2]					822
Other assets	[2]					7,251
Indemnification assets	[2]					12,645
Right-of-use assets	[2]					42,062
Property and equipment	[2]					19,144
Intangible assets	[2]					314,097
Total Assets	[2]					421,300
Liabilities
Trade payables	[2]					(3,554)
Loans and financing	[2]					(58,541)
Lease liabilities	[2]					(42,062)
Labor and social obligations	[2]					(8,070)
Taxes payable	[2]					(5,779)
Provision for legal proceedings	[2]					(12,645)
Advances from customers	[2]					(6,084)
Notes payable	[2]					(80,526)
Other liabilities	[2]					(14,754)
Total Liabilites	[2]					(232,015)
Total identifiable net assets at fair value	[2]					189,285
Preliminary goodwill arising on acquisition	[2]					4,420
Purchase consideration transferred	[2]					193,705
Cash paid	[2]					141,065
Payable in installments	[2]					52,640
Paid in Afya Brazil's shares	[2]
Analysis of cash flows on acquisition:
Transaction costs (included in cash flows from operating activities)	[2]					(1,666)
Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities)	[2]					(137,820)
Net of cash flow on acquisition	[2]					R$ 139486
Instituicao de Pesquisa Medica e Servicos Tecnologicos da Area da Saude S.A. ("PEBMED") [member]
Assets
Cash and cash and equivalents					R$ 1119
Trade receivables					7,984
Inventories
Recoverable taxes
Other assets					161
Indemnification assets					12,350
Right-of-use assets					865
Property and equipment					391
Intangible assets					60,372
Total Assets					83,242
Liabilities
Trade payables					(9,024)
Loans and financing
Lease liabilities					(865)
Labor and social obligations					(1,786)
Taxes payable					(1,210)
Provision for legal proceedings					(12,350)
Advances from customers					(9,312)
Notes payable
Other liabilities
Total Liabilites					(34,547)
Total identifiable net assets at fair value					48,695
Preliminary goodwill arising on acquisition					84,175
Purchase consideration transferred					132,870
Cash paid					115,339
Payable in installments
Paid in Afya Brazil's shares					17,531
Analysis of cash flows on acquisition:
Transaction costs (included in cash flows from operating activities)					(613)
Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities)					(114,220)
Net of cash flow on acquisition					R$ 114833
Faculdade de Ensino Superior da Amazonia Reunida ("FESAR") [member]
Assets
Cash and cash and equivalents				R$ 4236
Trade receivables
Inventories
Recoverable taxes
Other assets				42
Indemnification assets				6,871
Right-of-use assets
Property and equipment				23,176
Intangible assets				167,106
Total Assets				201,431
Liabilities
Trade payables				(143)
Loans and financing				(1,087)
Lease liabilities
Labor and social obligations				(1,801)
Taxes payable				(29)
Provision for legal proceedings				(6,871)
Advances from customers				(759)
Notes payable
Other liabilities
Total Liabilites				(10,690)
Total identifiable net assets at fair value				190,741
Preliminary goodwill arising on acquisition				71,664
Purchase consideration transferred				262,405
Cash paid				260,836
Payable in installments				1,569
Paid in Afya Brazil's shares
Analysis of cash flows on acquisition:
Transaction costs (included in cash flows from operating activities)				(2,047)
Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities)				(256,600)
Net of cash flow on acquisition				R$ 258647
Faculdade de Ciencias Medicas da Paraiba ("FCMPB") [member]
Assets
Cash and cash and equivalents		R$ 100
Trade receivables		8,148
Inventories
Recoverable taxes
Other assets		123
Indemnification assets
Right-of-use assets		23,663
Property and equipment		962
Intangible assets		264,782
Total Assets		297,778
Liabilities
Trade payables		(173)
Loans and financing
Lease liabilities		(23,663)
Labor and social obligations		(3,832)
Taxes payable		(5)
Provision for legal proceedings
Advances from customers		(1,781)
Notes payable
Other liabilities
Total Liabilites		(29,454)
Total identifiable net assets at fair value		268,324
Preliminary goodwill arising on acquisition		110,483
Purchase consideration transferred		378,807
Cash paid		189,913
Payable in installments		188,894
Paid in Afya Brazil's shares
Analysis of cash flows on acquisition:
Transaction costs (included in cash flows from operating activities)		(721)
Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities)		(189,813)
Net of cash flow on acquisition		R$ 190534
MedPhone Tecnologia em Saude Ltda ("MedPhone") [member]
Assets
Cash and cash and equivalents			R$ 60
Trade receivables
Inventories
Recoverable taxes
Other assets			9
Indemnification assets
Right-of-use assets
Property and equipment
Intangible assets			3,727
Total Assets			3,796
Liabilities
Trade payables
Loans and financing
Lease liabilities
Labor and social obligations
Taxes payable			(2)
Provision for legal proceedings
Advances from customers
Notes payable
Other liabilities			(228)
Total Liabilites			(230)
Total identifiable net assets at fair value			3,566
Preliminary goodwill arising on acquisition			2,843
Purchase consideration transferred			6,409
Cash paid			6,373
Payable in installments			36
Paid in Afya Brazil's shares
Analysis of cash flows on acquisition:
Transaction costs (included in cash flows from operating activities)			(158)
Cash paid, net of cash acquired with the subsidiary (included in cash flows from investing activities)			(6,313)
Net of cash flow on acquisition			R$ 6471
[1]	During the measurement period, the preliminary goodwill for the acquisition of UniRedentor was adjusted to R$77,662 (R$90,282 initial goodwill) as a result of an increase of intangible assets from R$134,281 to R$142,399 and a purchase price consideration adjustment of R$ 4,503.
[2]	During the measurement period, the preliminary goodwill for the acquisition of UniSL was adjusted to R$4,422 (R$53,192 previously disclosed) as a result of (i) a purchase consideration decrease of R$7,816 and (ii) adjustments increasing intangible assets of R$ 40,961 and a decrease in property and equipment of R$7.

5 Business combinations (Deta_2

5 Business combinations (Details 1) - Sociedade Universitaria Redentor S.A. ("UniRedentor") [member]	Jan. 31, 2020
Licenses [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	With-and-without method - The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earnings method - The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.

5 Business combinations (Deta_3

5 Business combinations (Details 2) - Centro Universitario Sao Lucas Ltda ("UniSL") [member]	May 05, 2020
Licenses [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	With-and-without method - The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earnings method - The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.

5 Business combinations (Deta_4

5 Business combinations (Details 3) - Instituicao de Pesquisa Medica e Servicos Tecnologicos da Area da Saude S.A. ("PEBMED") [member]	Jul. 20, 2020
Trademarks [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Relief from royalty - This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earnings method - The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.
Developed technology [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Replacement cost - This methodology is based on the estimated cost of replacing the referred asset with a new one (acquisition or reconstruction), adjusted to reflect the losses in value resulting from the physical deterioration and the functional and economic obsolescence of that asset.

5 Business combinations (Deta_5

5 Business combinations (Details 4) - Faculdade de Ensino Superior da Amazonia Reunida ("FESAR") [member]	Nov. 03, 2020
Licenses [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	With-and-without method - The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earnings method - The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.

5 Business combinations (Deta_6

5 Business combinations (Details 5) - MedPhone Tecnologia em Saude Ltda ("MedPhone") [member]	Nov. 05, 2020
Trademarks [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Relief from royalty - This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earnings method - The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.
Developed technology [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Replacement cost - This methodology is based on the estimated cost of replacing the referred asset with a new one (acquisition or reconstruction), adjusted to reflect the losses in value resulting from the physical deterioration and the functional and economic obsolescence of that asset.

5 Business combinations (Deta_7

5 Business combinations (Details 6) - Faculdade de Ciencias Medicas da Paraiba ("FCMPB") [member]	Nov. 09, 2020
Licenses [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	With-and-without method - The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earnings method - The method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets.

5 Business combinations (Deta_8

5 Business combinations (Details 7) - BRL (R$) R$ in Thousands		May 09, 2019	Apr. 03, 2019	Mar. 29, 2019
Instituto educacional santo agostinho s.a. ("FASA") [member]
Assets
Cash and cash and equivalents	[1]		R$ 3834
Restrict cash	[1]		5,561
Trade receivables	[1]		1,832
Inventories	[1]
Recoverable taxes	[1]
Other assets	[1]		458
Right-of-use assets	[1]		47,789
Property and equipment	[1]		22,946
Investment in associate	[1]
Intangible assets	[1]		171,511
Total Assets	[1]		253,931
Liabilities
Trade payables	[1]		(1,133)
Loans and financing	[1]		(35,419)
Lease liabilities	[1]		(47,793)
Labor and social obligations	[1]		(5,254)
Taxes payable	[1]		(483)
Provision for legal proceedings	[1]		(1,684)
Advances from customers	[1]		(3,192)
Other liabilities	[1]		(460)
Total Liabilites	[1]		(95,418)
Total identifiable net assets at fair value	[1]		158,513
Non-controlling interest	[1]		(15,851)
Goodwill arising on acquisition	[1]		58,903
Purchase consideration transferred	[1]		201,565
Cash paid	[1]		102,330
Capital contribution	[1]
Payable in installments	[1]		99,235
Transaction costs (included in cash flows from operating activities)	[1]		(1,887)
Cash paid net of cash acquired with the subsidiary (included in cash flows from investing activities)	[1]		(98,496)
Net of cash flow on acquisition	[1]		R$ 100383
Instituto de pesquisa e ensino medico do estado de minas gerais ltda. ("IPEMED") [member]
Assets
Cash and cash and equivalents	[2]	R$ 307
Restrict cash	[2]
Trade receivables	[2]	8,965
Inventories	[2]
Recoverable taxes	[2]
Other assets	[2]	3,266
Right-of-use assets	[2]	8,800
Property and equipment	[2]	3,676
Investment in associate	[2]
Intangible assets	[2]	33,039
Total Assets	[2]	58,053
Liabilities
Trade payables	[2]	(4,908)
Loans and financing	[2]	(3,592)
Lease liabilities	[2]	(8,965)
Labor and social obligations	[2]	(1,575)
Taxes payable	[2]	(26,503)
Provision for legal proceedings	[2]	(2,008)
Advances from customers	[2]	(607)
Other liabilities	[2]
Total Liabilites	[2]	(48,158)
Total identifiable net assets at fair value	[2]	9,895
Non-controlling interest	[2]
Goodwill arising on acquisition	[2]	87,647
Purchase consideration transferred	[2]	97,542
Cash paid	[2]	52,239
Capital contribution	[2]
Payable in installments	[2]	45,303
Transaction costs (included in cash flows from operating activities)	[2]	(180)
Cash paid net of cash acquired with the subsidiary (included in cash flows from investing activities)	[2]	(51,932)
Net of cash flow on acquisition	[2]	R$ 52112
Guardaya empreendimentos and participacoes s.a. ("guardaya") [member]
Assets
Cash and cash and equivalents				R$ 1548
Restrict cash
Trade receivables				44,277
Inventories				2,581
Recoverable taxes				280
Other assets				489
Right-of-use assets				4,556
Property and equipment				1,594
Investment in associate				24,458
Intangible assets				59,977
Total Assets				139,760
Liabilities
Trade payables				(454)
Loans and financing				(4,076)
Lease liabilities				(4,607)
Labor and social obligations				(1,844)
Taxes payable				(3,571)
Provision for legal proceedings				(680)
Advances from customers
Other liabilities				(4,709)
Total Liabilites				(19,941)
Total identifiable net assets at fair value				119,819
Non-controlling interest
Goodwill arising on acquisition				139,294
Purchase consideration transferred				259,113
Cash paid
Capital contribution				259,113
Payable in installments
Transaction costs (included in cash flows from operating activities)				(482)
Cash paid net of cash acquired with the subsidiary (included in cash flows from investing activities)				1,548
Net of cash flow on acquisition				R$ 1066
[1]	During the measurement period, the purchase consideration for the acquisition of FASA was adjusted by R$3,022 as a result of purchase price adjustments. Accordingly, goodwill was updated to R$58,903.
[2]	During the measurement period of the assets acquired and liabilities assumed at the fair value, the Company has identified R$1,320 of indemnification assets, related to the acquisition of IPEMED.

5 Business combinations (Deta_9

5 Business combinations (Details 8) - Guardaya Empreendimentos and Participacoes S.A. ("Guardaya") [Member]	Mar. 29, 2019
Trademarks [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Relief-from-royalty - This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. It is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earning method - The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets.
Educational content [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Replacement cost - This methodology is based on the estimate of the cost of replacing the asset with a new one (acquisition or reconstruction), adjusted to reflect the losses of value resulting from the physical deterioration and the economic functional obsolescence of the asset.

5 Business combinations (Det_10

5 Business combinations (Details 9) - Instituto Educacional Santo Agostinho S.A. ("FASA") [Member]	Apr. 03, 2019
Licences [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	With-and-without method - The with-and-without method consists of estimating the fair value of an asset by the difference between the value of this asset in two scenarios: a scenario considering the existence of the asset in question and another considering its non-existence.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earning method - The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets.

5 Business combinations (Det_11

5 Business combinations (Details 10) - Instituto De Pesquisa E Ensino Medico Do Estado De Minas Gerais Ltda. ("IPEMED") [Member]	May 09, 2019
Trademarks [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Relief-from-royalty - This methodology is based on the market remuneration of the use license granted to third parties. The value of the asset is restated by the savings of royalties that the owner would have to own the asset. And it is necessary to determine a royalty rate that reflects the appropriate remuneration of the asset. The royalty payments, net of taxes, are discounted to present value.
Customer relationships [member]
Disclosure of detailed information about business combination [line items]
Valuation technique	Multi-period excess earning method - The method considers the present value of net cash flows expected to be generated by customer relationship, by excluding any cash flows related to contributory assets.

5 Business combinations (Det_12

5 Business combinations (Details Narrative) - BRL (R$) R$ in Thousands

Nov. 09, 2020

Nov. 04, 2020

Nov. 03, 2020

Jul. 20, 2020

May 05, 2020

Jan. 31, 2020

May 09, 2019

Apr. 03, 2019

Mar. 29, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Disclosure of detailed information about business combination [line items]

Net revenue

R$ 1201191

R$ 750630

R$ 333935

Income loss before income taxes

R$ 335054

R$ 186937

R$ 98722

Guardaya [member]

Disclosure of detailed information about business combination [line items]

Description of acquiree

Afya Brazil merged (i) BR Health, a wholly-owned subsidiary of Crescera that controls Guardaya and is one of Afya Brazil's shareholders; and (ii) Guardaya which owns 100% of Medcel Editora and CBB Web, resulting in the transfer to Afya Brazil of 100% of Medcel Editora and CBB Web shares. In connection with the transaction 15% of UEPC's shares were acquired. Afya Brazil issued 378,696 common shares as a consideration for the interest in BR Health and Guardaya. The fair value of the consideration given was R$ 259,113. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations.

Revenue of acquiree since acquisition date

R$ 40554

Profit (loss) of acquiree since acquisition date

5,786

Transaction costs

482

Net revenue

75,238

Income loss before income taxes

R$ 21924

FCMPB [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The total net purchase price of R$379,913 was adjusted to Rincreased by R$ 142 and income before income taxes for 2020 would have been decreased by R$ 46.$378,807 and is comprised of (i) R$189,913 paid in cash on the transaction closing date, and (ii) R$188,894 is payable in cash in four equal installments through 2024, adjusted by the CDI rate.

Transaction costs

R$ 721

Net revenue

10,509

Income loss before income taxes

R$ 3570

MEDPHONE [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The net purchase price was R$6,373 of which 100% was paid in cash on the closing of the operation. The purchase price was adjusted to R$6,409, this price adjustment of R$ 36 was paid on February 2, 2021.

Transaction costs

R$ 158

Net revenue

49

Income loss before income taxes

57

Increase in revenue

142

Decreased in income before income taxes

R$ 46

FESAR [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The aggregate purchase price was R$260,836, including the CDI rate adjustment from the signing date and the real state of the operation, estimated at R$ 17,397, of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$1,569 and was paid on February 25, 2021.

Transaction costs

R$ 2047

Net revenue

6,280

Income loss before income taxes

3,751

Increase in revenue

29,113

Increase in income before income taxes

R$ 14918

PEBMED [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The original purchase price of R$ 132,900 was adjusted by R$ 30 and was comprised by: i) R$115,339 paid in cash on the acquisition date; and ii) R$ 17,531 was paid with Afya Brazil’s shares which were afterwards contributed to the Company in exchange of issuance of 141,976 of its own shares.

Transaction costs

R$ 613

Net revenue

17,535

Income loss before income taxes

3,413

Increase in revenue

17,452

Decreased in income before income taxes

R$ 1813

UniSL [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The original purchase consideration of R$201,521 was adjusted by R$7,816, of which: (i) 70% is payable in cash on the transaction closing date, and (ii) 30% is payable in cash in three equal installments through 2023, adjusted by the CDI rate. The purchase consideration adjustment of R$7,816 will be deducted from the first installment due in May 2021.

Transaction costs

R$ 1666

Net revenue

113,894

Income loss before income taxes

30,648

Increase in revenue

57,477

Additional payment made

80,000

Increase in income before income taxes

R$ 9455

UniRedentor [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

The original purchase price of R$214,608, was adjusted by R$4,503 and was comprised by: i) R$114,607 paid in cash on the acquisition date; and ii) R$100,000 is payable in five equal installments from January 2021 to July 2024, adjusted by the CDI rate. The purchase consideration adjustment of R$4,503 will be deducted from the first installment due in January 2021

Transaction costs

R$ 1380

Net revenue

10,509

Income loss before income taxes

R$ 3570

Instituto de pesquisa e ensino medico do estado de minas gerais ltda. ("IPEMED") [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

100.00%

Description of acquiree

IPEMED is a post-secondary education institution with campuses located in the states of Bahia, Minas Gerais, Rio de Janeiro, São Paulo and in the Distrito Federal. It focuses on medical graduate programs. The purchase price was R$ 97,542, being: i) R$ 25,000 paid in cash as advance through April 2019; ii) R$ 27,239 paid in cash on the acquisition date; iii) R$45,303 payable in five annual installments due from February 2020 to February 2024 adjusted by the Interbank Certificates of Deposit ("CDI") rate. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations.

Purchase consideration transferred

[1]

R$ 97542

Goodwill recognised

[1]

87,647

Revenue of acquiree since acquisition date

43,244

Profit (loss) of acquiree since acquisition date

10,735

Revenue of combined entity as if combination occurred at beginning of period

67,594

Profit (loss) of combined entity as if combination occurred at beginning of period

6,808

Cash paid

[1]

52,239

Payable in installments

[1]

45,303

Transaction costs

[1]

R$ 180

Description of adjustment

R$45,303 payable in five annual installments due from February 2020 to February 2024 adjusted by the Interbank Certificates of Deposit ("CDI") rate.

Instituto educacional santo agostinho s.a. ("FASA") [member]

Disclosure of detailed information about business combination [line items]

Proportion of ownership interest in subsidiary

90.00%

Description of acquiree

The purchase price of R$ 201,565 is comprised by: i) R$ 102,330 paid in cash on the acquisition date; ii) R$ 39,695 payable in April 2020; iii) R$ 29,770 payable in April 2021; and iv) R$ 29,770 payable in April 2022, adjusted by the IPCA rate + 4.1% per year. This transaction was strategic to the Company and was accounted for under IFRS 3 – Business Combinations. There isare no contingent consideration associated with the acquisition of FASA.

Purchase consideration transferred

[2]

R$ 201565

Goodwill recognised

[2]

58,903

Revenue of acquiree since acquisition date

69,996

Profit (loss) of acquiree since acquisition date

16,501

Revenue of combined entity as if combination occurred at beginning of period

90,063

Profit (loss) of combined entity as if combination occurred at beginning of period

16,872

Cash paid

[2]

102,330

Payable in installments

[2]

99,235

Transaction costs

[2]

R$ 1887

Description of adjustment

IPCA rate + 4.1% per year

[1]

During the measurement period of the assets acquired and liabilities assumed at the fair value, the Company has identified R$1,320 of indemnification assets, related to the acquisition of IPEMED.

[2]

During the measurement period, the purchase consideration for the acquisition of FASA was adjusted by R$3,022 as a result of purchase price adjustments. Accordingly, goodwill was updated to R$58,903.

6 Cash and cash equivalents (De

6 Cash and cash equivalents (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents [abstract]
Cash and bank deposits	R$ 57729	R$ 13092
Cash equivalents (a)	987,313	930,117
Cash and cash equivalents	R$ 1045042	R$ 943209	R$ 62260	R$ 25490

6 Cash and cash equivalents (_2

6 Cash and cash equivalents (Details Narrative) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CashAndCashEquivalentLineItems [Line Items]
Cash equivalents (a)	R$ 987313	R$ 930117
U.S. dollars
CashAndCashEquivalentLineItems [Line Items]
Cash equivalents (a)	R$ 70523	R$ 2529
Bank Certificates of Deposit [member]
CashAndCashEquivalentLineItems [Line Items]
Percentage of average interest		99.22%
Interbank Certificates Of Deposit [member]
CashAndCashEquivalentLineItems [Line Items]
Percentage of average interest	90.95%

7 Trade receivables (Details)

7 Trade receivables (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2020	Dec. 31, 2019
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross		R$ 342924	R$ 150003
(-) Allowance for doubtful accounts		(32,980)	(14,763)
Trade receivables, net		309,944	135,240
Current		302,317	125,439
Non-current		7,627	9,801
Tuition Fees [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross		195,318	80,156
Others [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross		10,476	5,005
FIES [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross		49,425	17,789
Educational Content [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross	[1]	62,931	37,154
Educational credits [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross		11,248	9,899
Mobile app subscription [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables, gross	[2]	R$ 13526
[1]	Related to trade receivables from sales of printed books, e-books and medical courses through digital platform from Medcel.
[2]	Related to trade receivables from mobile applications subscriptions for digital medical content.

7 Trade receivables (Details 1)

7 Trade receivables (Details 1) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivable	R$ 342924	R$ 150003
1 To 30 Days [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivable	44,365	15,042
More Than 180 Days [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivable	44,764	16,102
31 To 90 Days [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivable	57,198	27,221
91 To 180 Days [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivable	51,521	20,543
Neither Past Due Nor Impaired [member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivable	R$ 145076	R$ 71095

7 Trade receivables (Details 2)

7 Trade receivables (Details 2) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade and other receivables [abstract]
Balance at the beginning of the year	R$ 14763	R$ 7537	R$ 3794
Additions	(32,081)	(15,040)	(7,714)
Write-offs	13,864	7,814	3,971
Balance at the end of the year	R$ 32980	R$ 14763	R$ 7537

8 Related parties (Details)

8 Related parties (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Trade receivables	[1]	R$ 174	R$ 557
Related parties	[2]	421
Total		595	557
Current		188,420	131,883
Non-current		329,820	168,354
Other income		104	557	R$ 1134
Lease		17,673	15,842	13,554
IPTAN [member]
Disclosure of transactions between related parties [line items]
Other income	[3]			882
IESVAP Patrimonial Ltda. [member]
Disclosure of transactions between related parties [line items]
Lease		3,470	2,609	1,274
UEPC [member]
Disclosure of transactions between related parties [line items]
Other income	[1]	104	557
IESVAP [member]
Disclosure of transactions between related parties [line items]
Other income	[3]			252
RVL Esteves Gestao Imobiliaria S.A. [member]
Disclosure of transactions between related parties [line items]
Lease		11,288	10,417	9,655
UNIVACO Patrimonial Ltda. [member]
Disclosure of transactions between related parties [line items]
Lease		R$ 2915	R$ 2816	R$ 2625
[1]	Refers to sales of educational content from Medcel to UEPC recorded in trade receivables
[2]	Amounts to be reimbursed by the shareholders to Afya Brazil, mainly related to payments of legal cost and advisory services recorded in other assets.
[3]	Refers to share services and corporate expenses provided by Afya Brazil to IPTAN and IESVAP for the periods prior to their acquisition on April 26, 2018 recorded in the consolidated statements of income.

8 Related parties (Details 1)

8 Related parties (Details 1) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related party transactions [abstract]
Short-term employee benefits	R$ 9629	R$ 4947	R$ 2681
Share-based compensation plans	23,989	13,893	2,161
Total	R$ 33618	R$ 18840	R$ 4842

8 Related parties (Details Narr

8 Related parties (Details Narrative) - Lease Agreements [Member] - BRL (R$) R$ in Thousands	Oct. 30, 2019	Feb. 09, 2019	Sep. 06, 2018	Apr. 25, 2018	Jun. 21, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
RVL Esteves Gestao Imobiliaria S.A. [member]
Disclosure of transactions between related parties [line items]
Lease term		5 years
Renewal term		5 years
Lease expenses						R$ 11288	R$ 10417	R$ 9655
IESVAP Patrimonial Ltda. [member]
Disclosure of transactions between related parties [line items]
Lease term				20 years
Renewal term				20 years
Percentage of revenue				7.50%
Description of lease term				The lease agreement is for an amount equal to 7.5% of the monthly net revenue of IESVAP during 2018.
Lease expenses						R$ 3470	2,609	1,274
UNIVACO Patrimonial Ltda. [member]
Disclosure of transactions between related parties [line items]
Lease term						20 years
Renewal term						20 years
Lease expenses						R$ 2915	R$ 2816	R$ 2625
Instituto De Ensino Superior Presidente Trancredo De Almeida Neves S.A. (IPTAN) [Member] | RVL Esteves Gestao Imobiliaria S.A. [member]
Disclosure of transactions between related parties [line items]
Lease term	5 years
Renewal term	5 years
Percentage of revenue	6.50%
Description of lease term	(i) up to June 2020, R$12 and (ii) after June 2020 and until October 2024, 6.5% of the monthly net revenue of IPTAN
Instituto Tocantinense Presidente Antonio Carlos S.A. (ITPAC ) [Member] | RVL Esteves Gestao Imobiliaria S.A. [member]
Disclosure of transactions between related parties [line items]
Lease term			20 years		20 years
Renewal term			20 years		20 years
Percentage of revenue			7.50%

9 Investment in associate (Deta

9 Investment in associate (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of associates [line items]
Current assets	R$ 1405501	R$ 1111765
Non-current assets	3,387,592	1,800,688
Current liabilities	(589,379)	(333,229)
Non-current liabilities	(1,369,934)	(465,498)
Equity	2,833,780	2,113,726	R$ 590354	R$ 46762
Net revenue	1,201,191	750,630	333,935
Cost of services	(434,654)	(308,853)	(168,052)
General and administrative expenses	402,855	239,120	70,034
Finance result	(62,290)	(51,689)	(10,428)
Income before income taxes	335,054	186,937	98,722
Income taxes expenses	27,067	14,175	3,988
Net income for the period (March 29 to December 31, 2019)	307,987	172,762	94,734
Opening balance	45,634
Closing balance	51,410	45,634
Associates [Member]
Disclosure of associates [line items]
Current assets	55,413	26,762
Non-current assets	82,575	77,031
Current liabilities	(34,531)	(29,328)
Non-current liabilities	(76,132)	(66,294)
Equity	27,325	8,171
Company's share in equity - 30%	8,227	2,451
Goodwill	43,183	43,183
Carrying amount of the investment	51,410	45,634
Net revenue	113,965	85,816
Cost of services	(55,926)	(39,459)
General and administrative expenses	(27,341)	(29,476)
Finance result	(4,882)	(4,121)
Income before income taxes	25,816	12,760
Income taxes expenses	(252)	(2,275)
Net income for the period (March 29 to December 31, 2019)	25,564	10,485
Company share of profit	7,698	2,362
Opening balance	45,634
Acquisition of minority interest (15%) in March 2019		24,458
Acquisition of additional minority interest (15%) in June 2019		24,457
Dividends receivable (included in Other assets)	(1,922)	(5,643)
Share of profit from March 29 to December 31, 2019	7,698	2,362
Closing balance	R$ 51410	R$ 45634

10 Property and equipment (Deta

10 Property and equipment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	R$ 139320	R$ 139320
Depreciation
Ending balance	260,381	139,320	R$ 139320
Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	25,919
Ending balance		25,919
Machinery and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	49,181	30,536
Ending balance		49,181	30,536
Land [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	13,401	7,005
Ending balance		13,401	7,005
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,044	648
Ending balance		1,044	648
Furniture and fixtures [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	21,042	15,548
Ending balance		21,042	15,548
It equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	17,660	9,457
Ending balance		17,660	9,457
Library books [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	10,807	9,476
Ending balance		10,807	9,476
Laboratories and clinics [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		663
Ending balance			663
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	117,621	29,256
Ending balance		117,621	29,256
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	3,706	36,731
Ending balance		3,706	36,731
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	176,303	91,648	53,403
Additions	89,832	56,964	19,554
Transfers		(525)
Business combinations	47,880	28,216	18,691
Ending balance	314,015	176,303	91,648
Cost [Member] | Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance
Additions
Transfers	19,148
Business combinations	6,771
Ending balance	25,919
Cost [Member] | Machinery and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	44,329	30,503	20,135
Additions	13,806	9,838	3,226
Transfers	1,395
Business combinations	8,973	3,988	7,142
Ending balance	68,503	44,329	30,503
Cost [Member] | Land [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	7,005	2,770
Additions	672	4,235	2,770
Transfers
Business combinations	5,724
Ending balance	13,401	7,005	2,770
Cost [Member] | Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	707	182	120
Additions		422
Transfers
Business combinations	508	103	62
Ending balance	1,215	707	182
Cost [Member] | Furniture and fixtures [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	21,438	11,897	8,357
Additions	4,550	6,976	1,023
Transfers	82
Business combinations	3,061	2,565	2,517
Ending balance	29,131	21,438	11,897
Cost [Member] | It equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	15,994	10,243	6,494
Additions	9,657	4,241	1,728
Transfers	367	(525)
Business combinations	2,493	2,035	2,021
Ending balance	28,511	15,994	10,243
Cost [Member] | Library books [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	18,139	12,838	10,016
Additions	1,012	1,205	949
Transfers
Business combinations	2,473	4,096	1,873
Ending balance	21,624	18,139	12,838
Cost [Member] | Laboratories and clinics [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,049	597
Additions		34
Transfers	(1,049)
Business combinations		418	597
Ending balance		1,049	597
Cost [Member] | Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	30,911	11,882	7,094
Additions	54,748	4,488	1,940
Transfers	23,559		2,271
Business combinations	12,787	14,541	577
Ending balance	122,005	30,911	11,882
Cost [Member] | Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	36,731	10,736	1,187
Additions	5,387	25,525	7,918
Transfers	(43,502)		(2,271)
Business combinations	5,090	470	3,902
Ending balance	3,706	36,731	10,736
Depriciation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(36,983)	(25,885)	(20,928)
Depreciation	(16,651)	(11,545)	(4,957)
Disposals		447
Transfers
Ending balance	(53,634)	(36,983)	(25,885)
Depriciation [Member] | Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance
Depreciation
Disposals
Transfers
Ending balance
Depriciation [Member] | Machinery and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(13,793)	(9,696)	(7,810)
Depreciation	(5,065)	(4,097)	(1,886)
Disposals
Transfers	(464)
Ending balance	(19,322)	(13,793)	(9,696)
Depriciation [Member] | Land [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance
Depreciation
Disposals
Transfers
Ending balance
Depriciation [Member] | Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(59)	(59)	(49)
Depreciation	(112)		(10)
Disposals
Transfers
Ending balance	(171)	(59)	(59)
Depriciation [Member] | Furniture and fixtures [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(5,890)	(4,261)	(3,449)
Depreciation	(2,199)	(1,629)	(812)
Disposals
Transfers
Ending balance	(8,089)	(5,890)	(4,261)
Depriciation [Member] | It equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(6,537)	(4,489)	(3,472)
Depreciation	(4,314)	(2,495)	(1,017)
Disposals		447
Transfers
Ending balance	(10,851)	(6,537)	(4,489)
Depriciation [Member] | Library books [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(8,663)	(7,015)	(6,012)
Depreciation	(2,154)	(1,648)	(1,003)
Disposals
Transfers
Ending balance	(10,817)	(8,663)	(7,015)
Depriciation [Member] | Laboratories and clinics [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(386)	(27)
Depreciation	(78)	(359)	(27)
Disposals
Transfers	464
Ending balance		(386)	(27)
Depriciation [Member] | Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(1,655)	(338)	(136)
Depreciation	(2,729)	(1,317)	(202)
Disposals
Transfers
Ending balance	(4,384)	(1,655)	(338)
Depriciation [Member] | Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance
Depreciation
Disposals
Transfers
Ending balance

11 Intangible assets and good_3

11 Intangible assets and goodwill (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		R$ 1312338	R$ 1312338
Intangible assets and goodwill, balance at end		2,573,010	1,312,338		R$ 1312338
Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		459,409
Intangible assets and goodwill, balance at end		810,656	459,409
Education Content [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		12,429
Intangible assets and goodwill, balance at end		9,613	12,429
Developed technology [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		4,853
Intangible assets and goodwill, balance at end		9,965	4,853
Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		30,961
Intangible assets and goodwill, balance at end		71,512	30,961
Licences [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		703,772
Intangible assets and goodwill, balance at end		1,451,270	703,772
Computer Software [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		4,853
Intangible assets and goodwill, balance at end		9,965	4,853
Educational Platform And Software In Progress [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		13,373
Intangible assets and goodwill, balance at end		21,964	13,373
Customer relationships [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		197,707
Intangible assets and goodwill, balance at end		197,707	197,707
Developed technology [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning
Intangible assets and goodwill, balance at end		323
Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		1,361,640	688,494		6,633
Additions		19,649	122,775	[1],[2]	3,053
Disposal		(460)
Business combinations		1,303,730	550,371		678,808
Intangible assets and goodwill, balance at end		2,684,559	1,361,640		688,494
Cost [Member] | Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		459,409	169,535
Additions	[1],[2]		4,030
Business combinations		351,247	285,844		169,535
Intangible assets and goodwill, balance at end		810,656	459,409		169,535
Cost [Member] | Education Content [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		17,305
Business combinations			17,305
Intangible assets and goodwill, balance at end		17,305	17,305
Cost [Member] | Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		32,111
Business combinations		42,903	32,111
Intangible assets and goodwill, balance at end		75,014	32,111
Cost [Member] | Licences [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		703,772	445,616
Additions	[1],[2]		108,000
Business combinations		747,498	150,156		445,616
Intangible assets and goodwill, balance at end		1,451,270	703,772		445,616
Cost [Member] | Computer Software [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		9,389	8,288		6,633
Additions		4,175	1,101	[1],[2]	1,301
Disposal		(460)
Business combinations		3,117			354
Intangible assets and goodwill, balance at end		16,221	9,389		8,288
Cost [Member] | Educational Platform And Software In Progress [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		14,241	1,752
Additions		15,474	9,644	[1],[2]	1,752
Business combinations		484	2,845
Intangible assets and goodwill, balance at end		30,199	14,241		1,752
Cost [Member] | Customer relationships [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		125,413	63,303
Amortization		283,539
Business combinations		158,126	62,110		63,303
Intangible assets and goodwill, balance at end		283,539	125,413		63,303
Cost [Member] | Developed technology [member]
Disclosure of detailed information about intangible assets [line items]
Business combinations		355
Intangible assets and goodwill, balance at end		355
Depriciation [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		(49,302)	(6,025)		(1,904)
Amortization		(62,707)	(43,277)		(4,121)
Disposal		460
Intangible assets and goodwill, balance at end		(111,549)	(49,302)		(6,025)
Depriciation [Member] | Education Content [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		(4,876)
Amortization		(2,816)	(4,876)
Disposal
Intangible assets and goodwill, balance at end		(7,692)	(4,876)
Depriciation [Member] | Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		(1,150)
Amortization		(2,352)	(1,150)
Intangible assets and goodwill, balance at end		(3,502)	(1,150)
Depriciation [Member] | Computer Software [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		(4,536)	(3,080)		(1,904)
Amortization		(2,180)	(1,456)		(1,176)
Disposal		460
Intangible assets and goodwill, balance at end		(6,256)	(4,536)		(3,080)
Depriciation [Member] | Educational Platform And Software In Progress [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		(868)
Amortization		(7,367)	(868)
Intangible assets and goodwill, balance at end		(8,235)	(868)
Depriciation [Member] | Customer relationships [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning		(37,872)	(2,945)
Amortization		(47,960)	(34,927)		(2,945)
Intangible assets and goodwill, balance at end		(85,832)	(37,872)		R$ 2945
Depriciation [Member] | Developed technology [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, balance at beginnning
Amortization		(32)
Intangible assets and goodwill, balance at end		R$ 32
[1]	On August 13, 2019, Afya Brazil entered into a purchase agreement with the shareholders of IPEC for the acquisition of 100% of IPEC. IPEC was a non-operational postsecondary education institution with governmental authorization to offer on-campus post-secondary undergraduate courses in medicine in the State of Para, that commenced its operation in September 2019. Prior to the acquisition date, IPEC has no significant assets and liabilities. The purchase price of R$ 108,000 is comprised of: i) R$ 54,000 paid in cash on the acquisition date ii) R$ 54,000 is payable in two equal instalments of R$ 27,000 payable annually from August 13, 2020 to August 13, 2021, and adjusted by the CDI rate. The instalment due in August 2020 was paid in the total amount of R$28,104.
[2]	The amount of R$4,030 added to goodwill relates to adjustments during the measurement period of the business combination of IESP in respect to amounts to be included as part of the purchase price allocation at acquisition date mainly related to impairment of receivables.

11 Intangible assets and good_4

11 Intangible assets and goodwill (Details 1) - Carrying amount [member] - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
IPTAN - Instituto De Ensino Superior Presidente Trancredo De Almeida Neves S.A. ("IPTAN") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	R$ 17446	R$ 17446
Licenses with indefinite useful life	57,214	57,214
Cash generating units	126,397	110,224
Instituto De Pesquisa E Ensino Medico Do Estado De Minas Gerais Ltda. ("IPEMED") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	87,647	87,647
Licenses with indefinite useful life
Cash generating units	119,227	106,924
Instituto De Educacao Superior Do Vale Do Parnaiba S.A. ("IESVAP") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	27,956	27,956
Licenses with indefinite useful life	81,366	81,366
Cash generating units	112,898	119,129
Instituto Educacional Santo Agostinho S.A. ("FASA") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	58,903	58,903
Licenses with indefinite useful life	144,507	150,156
Cash generating units	267,279	227,271
Centro De Ciencias Em Saude De Itajuba S.A. ("CCSI") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	4,664	4,664
Licenses with indefinite useful life	56,737	56,737
Cash generating units	48,411	68,354
Medcel Editora and CBB Web [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	139,294	139,294
Licenses with indefinite useful life
Cash generating units	219,359	213,881
Instituto De Ensino Superior Do Piaui S.A. ("IESP") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	73,838	73,838
Licenses with indefinite useful life	179,693	179,693
Cash generating units	380,410	251,364
FADEP - Faculdade Educacional De Pato Branco Ltda. ("FADEP") [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	49,661	49,661
Licenses with indefinite useful life	70,606	70,606
Cash generating units	160,787	133,996
Instituto Paraense De Educacao E Cultura Ltda. (IPEC) [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill
Licenses with indefinite useful life	108,000	108,000
Cash generating units	122,325	R$ 106964
IPEMED [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	87,647
Licenses with indefinite useful life
Cash generating units	119,227
ESMC [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill
Licenses with indefinite useful life	5,649
Cash generating units	7,230
UniRedentor [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	77,662
Licenses with indefinite useful life	121,477
Cash generating units	253,370
UniSL [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	4,420
Licenses with indefinite useful life	249,387
Cash generating units	258,234
PEBMED [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	84,175
Licenses with indefinite useful life
Cash generating units	143,328
Faculdade de Ensino Superior da Amazonia Reunida - (FESAR) [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	71,664
Licenses with indefinite useful life	141,616
Cash generating units	263,914
FCMPB [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	110,483
Licenses with indefinite useful life	235,018
Cash generating units	380,682
MEDPHONE [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	2,843
Licenses with indefinite useful life
Cash generating units	6,477
Medcel and CBBW [member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	139,294
Cash generating units	R$ 219359

11 Intangible assets and good_5

11 Intangible assets and goodwill (Details 2)	12 Months Ended
	Dec. 31, 2020
Education Content [Member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	3 years
Customer relationships - medicine [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	6 years
Customer relationships - other courses [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	4 years 6 months
Trademarks [member] | Bottom of Range [Member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	19 years
Trademarks [member] | Top of Range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	20 years
Developed technology [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	5 years
Software [member]
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of intangible assets	5 years

11 Intangible assets and good_6

11 Intangible assets and goodwill (Details Narrative)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Discount rate applied to cash flow projections	13.00%	12.60%
Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Description of key assumptions on which management has based cash flow projections	An increase of 13 basis point in management’s estimated discount rate applied to the cash flow projections of each CGU for the year ended December 31, 2020, or a decrease of 50 basis points on estimated EBITDA would have not resulted in significant impacts on these financial statements.

12 Financial assets and finan_3

12 Financial assets and financial liabilities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of redesignated financial assets and liabilities [line items]
Cash and cash equivalents	R$ 1045042	R$ 943209	R$ 62260	R$ 25490
Restricted cash	2,053	16,841
Trade receivables	309,944	135,240
Total	9,680	26,642
Financial Assets At Amortised Cost [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Cash and cash equivalents	1,045,042	943,209
Restricted cash	2,053	16,841
Trade receivables	309,944	135,240
Related parties
Total	1,357,039	1,095,290
Current	1,347,359	1,083,436
Non-current	R$ 9680	R$ 11854

12 Financial assets and finan_4

12 Financial assets and financial liabilities (Details 1) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of redesignated financial assets and liabilities [line items]
Loans and financing	R$ 617485	R$ 60357
Lease liabilities	447,703	284,515	R$ 212360
Accounts payable to selling shareholders	518,240	300,237
Total	1,659,609	645,866
Current		757
Financial Liabilities At amortized Cost [member]
Disclosure of redesignated financial assets and liabilities [line items]
Trade payables	35,743	17,628
Loans and financing	617,485	60,357
Lease liabilities	447,703	284,515
Accounts payable to selling shareholders	518,240	300,237
Notes payable	76,181
Advances from customers	63,839	36,860
Total	1,759,191	699,597
Current	467,643	262,671
Non-current	1,291,548	436,926
Derivatives Liabilities [member]
Disclosure of redesignated financial assets and liabilities [line items]
Cross-currency interest rate swaps		757
Total		757
Current		757
Non-current

12 Financial assets and finan_5

12 Financial assets and financial liabilities (Details 2) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Disclosure of redesignated financial assets and liabilities [line items]
Loans and financing		R$ 617485	R$ 60357
Current		107,162	53,607
Non-current		R$ 510323	6,750
2027 [member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial institution	[1]	FINEP (d)
Interest rate	[1]	TJLP p.y.
Maturity	[1]	2027
Loans and financing	[1]	R$ 10864	6,750
2020 [member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial institution		Itaú Unibanco S.A.
Interest rate		1.22% a 1.26% p.m.
Maturity		2020
Loans and financing			648
2020 [member] | Euro
Disclosure of redesignated financial assets and liabilities [line items]
Financial institution	[2]	Itaú Unibanco S.A. (e)
Interest rate	[2]	1.01% p.y.
Maturity	[2]	2020
Loans and financing	[2]		R$ 52959
2024 [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial institution	[3]	BNDES (c)
Interest rate	[3]	10.03% p.y.
Maturity	[3]	2024
Loans and financing	[3]	R$ 471
2021 [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial institution	[4]	Banco Votorantim (b)
Interest rate	[4]	CDI + 1.65% p.y.
Maturity	[4]	2021
Loans and financing	[4]	R$ 101785
2023 [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial institution	[5]	Itaú Unibanco S.A. (a)
Interest rate	[5]	CDI + 1.62% p.y.
Maturity	[5]	2023
Loans and financing	[5]	R$ 504365
[1]	On July 23, 2019, Medcel entered into a loan of R$ 16,153 with Financiadora de Estudos e Projetos (FINEP), a governmental agency focused on financing investments on R&D, which has an interest rate based on TJLP (Long term interest rate), 2019 and maturity in 2027. The first and second tranches of R$6,734 and R$4,130, respectively, were drawdown in October 2019 and December 2020, respectively, in order to develop the Medical web series and other digital content. There is no financial covenant related to this agreement. The loan is guaranteed by bank warranty in the amount of R$ 10,864.
[2]	On November 16, 2018, Afya Brazil entered into a euro-denominated loan agreement with Itau Unibanco S.A. in the amount of R$ 74,980 (equivalent to 17,500). The loan accrues interest at 1.01% per annum and is repayable in three equal installments on November 18, 2019, May 18, 2020 and November 12, 2020. The loan agreement contains a financial covenant requiring Afya Brazil to maintain a Net Debt to EBITDA ratio less or equal to: 2.2x at end of 2018 and 2019 and 1.8x at the end of 2020. The loan was guaranteed by financial investments, classified as restricted cash, in the amount of R$14,788 as of December 31, 2019. This loan was repaid on November 12, 2020.
[3]	On May 5, 2020, as a result of the acquisition of UniSL, the Company assumed loans agreements BNDES which has an interest rate of 10.03% per year and maturity in 2024.
[4]	On July 3, 2020, Afya Brazil entered into a loan agreement with Banco Votorantim S.A. in the amount of R$ 100,000 adjusted by the CDI rate plus an interest rate of 1.65% per year and is repayable at maturity on July 5, 2021.
[5]	On October 1, 2020, Afya Brazil entered into a loan with Banco Itau Unibanco S.A. in the amount of R$ 500,000 adjusted by the CDI rate plus an interest rate of 1.62% per year and is repayable in three installments in October 2022, April 2023 and October 2023.

12 Financial assets and finan_6

12 Financial assets and financial liabilities (Details 3) - Cross-Currency Interest Rate Swap Agreements [member] - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of redesignated financial assets and liabilities [line items]
Net position - assets (liabilities)		R$ 757
Current assets (liabilities)		(757)
Noncurrent assets (liabilities)
Liability Position [member]
Disclosure of redesignated financial assets and liabilities [line items]
Cross-currency interest rate swap	128% of CDI
Principal amount (notional)	R$ 49165
Net position - assets (liabilities)		(53,802)
Asset Position [member]
Disclosure of redesignated financial assets and liabilities [line items]
Cross-currency interest rate swap	Euros + 1.01% p.y.
Principal amount (notional)	R$ 49165
Net position - assets (liabilities)		R$ 53045

12 Financial assets and finan_7

12 Financial assets and financial liabilities (Details 4) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Financial Assets And Financial Liabilities
Right-of-use assets, balance at beginning	R$ 274275	R$ 212360
Right-of-use assets, additions	64,743	19,100
Right-of-use assets, remeasurement	34,161
Right-of-use assets, business combinations	76,855	61,145
Right-of-use assets, depreciation expense	(29,386)	(18,330)
Right-of-use assets, interest expense
Right-of-use assets, payments of lease liabilities
Right-of-use assets, disposals	(1,574)
Right-of-use assets, balance at ending	419,074	274,275	R$ 212360
Right-of-use assets, current
Right-of-use assets, non-current				419,074	274,275
Lease liabilities, balance at beginning	284,515	212,360
Lease liabilities, additions	64,743	19,100
Lease liabilities, remeasurement	34,161
Lease liabilities, business combinations	76,855	61,365
Lease liabilities, depreciation expense
Lease liabilities, interest expense	44,458	31,469
Lease liabilities, payments of lease liabilities	(55,455)	(39,779)
Lease liabilities, disposals	(1,574)
Lease liabilities, balance at ending	R$ 284515	R$ 212360	R$ 212360	447,703	284,515
Lease liabilities, current				61,976	22,693
Lease liabilities, non-current				R$ 385727	R$ 261822

12 Financial assets and finan_8

12 Financial assets and financial liabilities (Details 5) - BRL (R$) R$ in Thousands		Dec. 31, 2020		Dec. 31, 2019
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders		R$ 518240		R$ 300237
Current		188,420		131,883
Non-current		329,820		168,354
Instituto Paraense De Educacao E Cultura Ltda. (IPEC) [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders		28,307	[1]	55,090	[2]
Centro De Ciencias Em Saude De Itajuba S.A. ("CCSI") [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[3]
Instituto De Ensino Superior Do Piaui S.A. ("IESP") [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders		38,771	[4]	75,450	[5]
FADEP - Faculdade Educacional De Pato Branco Ltda. ("FADEP") [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[6]			18,745
Instituto Educacional Santo Agostinho S.A. ("FASA") [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders		70,356	[7]	105,306	[8]
Instituto De Pesquisa E Ensino Medico Do Estado De Minas Gerais Ltda. ("IPEMED") [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders		38,622	[1]	R$ 45646	[9]
UniRedentor [member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[1]	97,773
UniSL [member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[10]	53,386
FCMPB [member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[11]	189,420
Faculdade de Ensino Superior da Amazonia Reunida - (FESAR) [member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[12]	1,569
MEDPHONE [member]
Disclosure of redesignated financial assets and liabilities [line items]
Accounts payable to selling shareholders	[13]	R$ 36
[1]	On January 31, 2020, Afya Brazil acquired 100% of UniRedentor and R$ 114,607 was paid in cash on the transaction closing date, and the original amount of R$100,000 is payable in five equal installments from January 2021 through July 2024, adjusted by the CDI rate. The purchase consideration was adjusted by R$4,503 and such amount will be deducted from the first installment due in January 2021.
[2]	On August 13, 2019, Afya Brazil acquired 100% of IPEC and R$54,000 was paid in cash on the transaction closing date, and (ii) R$54,000 is payable in two equal installments, adjusted by the CDI rate, and due annually at the end of the first and the second year from the transaction closing date.
[3]	On May 30, 2018, Afya Brazil acquired 60% of CCSI and the amount payable is adjusted by the IGP-M inflation rate and was settled in December 2019.
[4]	On November 27, 2018, Afya Brazil acquired 80% of IESP and the amounts of (i) R$8,906 was paid in February 2019, and (ii) R$106,200 is payable in three equal installments of R$35,400, each adjusted by the CDI rate through the payment date. The first and second installments were paid in November 2019 and 2020, respectively, and the remaining installment is due by the end of the third year from the transaction closing date.
[5]	On November 27, 2018, Afya Brazil acquired 80% of IESP and the amounts of (i) R$8,906 is payable in February 2019, and (ii) R$106,200 is payable in three equal installments of R$35,400, each adjusted by the CDI rate through the payment date. The first installment was paid in November 2019 and the remaining two installments are due by the end of the second and third year from the transaction closing date.
[6]	On December 5, 2018, Afya Brazil acquired 100% of FADEP and the amount of R$52,846 is payable in three equal installments of R$17,615, each adjusted by the SELIC rate through the payment date and due semiannually from the transaction closing date. The first installment was paid in June 2019, the second installment was paid in December 2019, and the last installment is due in June 2020.
[7]	On April 3, 2019, Afya Brazil acquired 90% of FASA and R$ 39,695 was paid in April 2020, R$ 29,770 is payable in April 2021, and R$ 29,770 is payable in April 2022; each adjusted by the IPCA rate + 4.1% per year.
[8]	On April 3, 2019, Afya Brazil acquired 90% of FASA and R$ 39,695 is payable in April 2020; R$ 29,770 is payable in April 2021; and R$ 29,770 is payable in April 2022, adjusted by the IPCA rate + 4.1% per year.
[9]	On May 9, 2019, Afya Brazil acquired 100% of IPEMED and R$ 45,303 is payable in five equal installments of R$ 9,061, adjusted by the CDI rate, and due annually in February 2020, 2021, 2022, 2023 and 2024.
[10]	On May 5, 2020, Afya Brazil acquired 100% of UniSL. The purchase consideration is R$201,521, of which: R$ 141,065 was paid in cash on the transaction closing date, and R$ 60,456 is payable in three equal installments through May 2023, adjusted by the CDI rate. The purchase consideration was adjusted by R$7,816 and such amount will be deducted from the first installment due in May 2021.
[11]	On November 9, 2020, Afya Brazil acquired 100% of FCMPB. The net purchase price of R$379,913 was adjusted to R$378,807, of which: R$ 189,913 was paid in cash on the transaction closing date, and R$ 188,894 is payable in four installments through November 2024, adjusted by the CDI rate.
[12]	On November 3, 2020, Afya Brazil acquired 100% of the share capital of FESAR. The aggregate purchase price was R$260,836, including the CDI rate adjustment from the singing and the real state of the operation, estimated at R$ 17,397, of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$1,569 and was paid on February 25, 2021.
[13]	On November 4, 2020, Afya Brazil acquired 100% of the share capital of MedPhone. The net purchase price was R$6,373 of which 100% was paid in cash on the closing of the operation. The purchase consideration was adjusted by R$36 and was paid on February 2, 2021.

12 Financial assets and finan_9

12 Financial assets and financial liabilities (Details 6) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of redesignated financial assets and liabilities [line items]
Opening balance	R$ 300237
Interest	25,543	R$ 24002	R$ 2404
Closing balance	518,240	300,237
Accounts Payable To Selling Shareholders [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Opening balance	300,237	177,730
Cash flows	(134,518)	(92,688)
Acquisition of IPEC		54,000
Interest	13,884	17,977	1,687
Business combinations	343,140	144,538	176,043
Compensation of legal proceedings disbursement	(4,503)	(1,320)
Closing balance	R$ 518240	R$ 300237	R$ 177730

12 Financial assets and fina_10

12 Financial assets and financial liabilities (Details 7) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financial Assets And Financial Liabilities
Business combination	R$ 80526
Payments	(5,974)
Monetary indexation	1,629
Notes payable ending	76,181
Current liabilities	589,379	R$ 333229
Non-current liabilities	R$ 1369934	R$ 465498

12 Financial assets and fina_11

12 Financial assets and financial liabilities (Details 8) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of redesignated financial assets and liabilities [line items]
Financial assets, at carrying amount	R$ 9680	R$ 26642
Financial assets, at fair value	9,680	26,642
Financial liabilities, at carrying amount	1,659,609	645,866
Financial liabilities, at fair value	1,679,847	645,952
Financial Liabilities At amortized Cost [member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial liabilities, at carrying amount	1,759,191	699,597
Derivatives Not Designated As Hedging Instruments [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial liabilities, at carrying amount		757
Financial liabilities, at fair value		757
Accounts Payable To Selling Shareholders [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial liabilities, at carrying amount	518,240	300,237
Financial liabilities, at fair value	518,240	300,237
Lease liabilities [member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial liabilities, at carrying amount	447,703	284,515
Financial liabilities, at fair value	447,703	284,515
Loans And Financing [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial liabilities, at carrying amount	617,485	60,357
Financial liabilities, at fair value	637,723	60,443
Notes Payable[Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial liabilities, at carrying amount	76,181
Financial liabilities, at fair value	76,181
Financial Assets At Amortised Cost [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial assets, at carrying amount	1,357,039	1,095,290
Derivatives Not Designated As Hedging Instruments [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial assets, at carrying amount
Financial assets, at fair value
Restricted Cash [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial assets, at carrying amount	2,053	16,841
Financial assets, at fair value	2,053	16,841
Trade receivables [member]
Disclosure of redesignated financial assets and liabilities [line items]
Financial assets, at carrying amount	7,627	9,801
Financial assets, at fair value	R$ 7627	R$ 9801

12 Financial assets and fina_12

12 Financial assets and financial liabilities (Details 9) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 9680	R$ 26642
Balance as of ending	1,659,609	645,866
Loans And Financing [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	617,485	60,357
Loans And Financing [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 10864
Index - % per year	TJLP p.y.
Base rate	R$ 494
Loans And Financing [Member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(81)
Loans And Financing [Member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(163)
Loans And Financing [Member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	81
Loans And Financing [Member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	163
AccountsPayableToSellingShareholdersOneMember | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 447848
Index - % per year	CDI
Base rate	R$ 8510
AccountsPayableToSellingShareholdersOneMember | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(3,359)
AccountsPayableToSellingShareholdersOneMember | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	(6,718)
AccountsPayableToSellingShareholdersOneMember | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	3,359
AccountsPayableToSellingShareholdersOneMember | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	6,718
Lease liabilities [member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	447,703	284,515
Accounts Payable To Selling Shareholders [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	518,240	300,237
Derivatives Not Designated As Hedging Instruments [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending		757
Loans And Financing [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 101785
Index - % per year	1.65%+100%CDI
Base rate	R$ 3613
Loans And Financing [Member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(763)
Loans And Financing [Member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(1,527)
Loans And Financing [Member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	763
Loans And Financing [Member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	1,527
Loans And Financing [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 504365
Index - % per year	1.62%+CDI
Base rate	R$ 17754
Accounts payable to selling shareholders [member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 70356
Index - % per year	IPCA+4.1%
Base rate	R$ 2894
Accounts payable to selling shareholders [member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(528)
Accounts payable to selling shareholders [member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(1,055)
Accounts payable to selling shareholders [member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	528
Accounts payable to selling shareholders [member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	1,055
Notes payable [member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	76,181
Notes payable [member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	(76,181)
Notes payable [member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(571)
Notes payable [member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(1,143)
Notes payable [member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	571
Notes payable [member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	1,143
Loans And Financing [Member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(3,783)
Loans And Financing [Member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	(7,565)
Loans And Financing [Member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	3,783
Loans And Financing [Member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	7,565
Cash Equivalents [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 916790
Index - % per year	90.95% CDI
Base rate	R$ 15843
Cash Equivalents [Member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	6,976
Cash Equivalents [Member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	13,952
Cash Equivalents [Member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	(6,976)
Cash Equivalents [Member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	(13,952)
Restricted Cash [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	2,053	16,841
Restricted Cash [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 2053
Index - % per year	76.10% CDI
Base rate	R$ 30
Restricted Cash [Member] | Increase in basis points +75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	15
Restricted Cash [Member] | Increase in basis points +150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets	31
Restricted Cash [Member] | Decrease in basis points -75 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	(15)
Restricted Cash [Member] | Decrease in basis points -150 [Member] | Floating interest rate [member] | Interest Rate Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets	(31)
Financial Assets At Amortised Cost [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	1,357,039	1,095,290
Derivatives Not Designated As Hedging Instruments [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending
Trade receivables [member]
Disclosure of redesignated financial assets and liabilities [line items]
Balance as of ending	R$ 7627	R$ 9801

12 Financial assets and fina_13

12 Financial assets and financial liabilities (Details 10) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of redesignated financial assets and liabilities [line items]
Cash and cash equivalents	R$ 101833	R$ 880949	R$ 36770
Increase in Foreign Currency Sensitivity +10% [Member] | Foreign Currency Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Cash and cash equivalents		7,052
Decrease in Foreign Currency Sensitivity -10% [Member] | Foreign Currency Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Cash and cash equivalents		(7,052)
Exposure [Member] | Foreign Currency Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Cash and cash equivalents		R$ 70523

12 Financial assets and fina_14

12 Financial assets and financial liabilities (Details 11) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of redesignated financial assets and liabilities [line items]
Loans and financing	R$ 617485	R$ 60357
Lease liabilities	447,703	284,515	R$ 212360
Accounts payable to selling shareholders	518,240	300,237
Liquidity Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Trade payables	35,743	17,628
Loans and financing	698,398	62,487
Lease liabilities	1,023,546	704,309
Accounts payable to selling shareholders	534,638	332,215
Notes payable	94,886
Advances from customers	63,839	36,860
Derivatives		757
Financial liabilities contractual undiscounted	2,451,050	1,154,256
More Than 5 Years [Member] | Liquidity Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Trade payables
Loans and financing	3,094	1,926
Lease liabilities	705,115	502,831
Accounts payable to selling shareholders
Notes payable
Advances from customers
Derivatives
Financial liabilities contractual undiscounted	708,209	504,757
Less Than 1 Year [Member] | Liquidity Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Trade payables	35,743	17,628
Loans and financing	125,137	54,507
Lease liabilities	63,092	44,139
Accounts payable to selling shareholders	191,145	137,608
Notes payable	11,083
Advances from customers	63,839	36,860
Derivatives		757
Financial liabilities contractual undiscounted	490,039	291,499
1 to 3 Years [Member] | Liquidity Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Trade payables
Loans and financing	566,157	3,537
Lease liabilities	131,225	81,326
Accounts payable to selling shareholders	262,340	182,535
Notes payable	83,803
Advances from customers
Derivatives
Financial liabilities contractual undiscounted	1,043,525	267,398
3 To 5 Years [Member] | Liquidity Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Trade payables
Loans and financing	4,010	2,517
Lease liabilities	124,114	76,013
Accounts payable to selling shareholders	81,153	12,072
Notes payable
Advances from customers
Derivatives
Financial liabilities contractual undiscounted	R$ 209277	R$ 90602

12 Financial assets and fina_15

12 Financial assets and financial liabilities (Details 12) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of redesignated financial assets and liabilities [line items]
Liabilities arising from financing activities, beginning	R$ 344872	R$ 81936	R$ 18817
Payments	(223,529)	(166,684)	(12,443)
Addition	716,929	78,295	74,980
Interest	54,489	37,494	2,821
Foreign exchange movement	21,279	1,126	2,697
Business combination	152,670	104,452
Other	(1,522)	(4,107)	(4,936)
Liabilities arising from financing activities, ending	1,065,188	344,872	81,936
Dividends Payable [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Liabilities arising from financing activities, beginning		4,107	14,888
Payments	(12,984)	(51,812)	(5,845)
Addition	12,984	51,812
Interest
Foreign exchange movement
Business combination
Other		(4,107)	(4,936)
Liabilities arising from financing activities, ending			4,107
Lease liabilities [member]
Disclosure of redesignated financial assets and liabilities [line items]
Liabilities arising from financing activities, beginning	284,515	212,360
Payments	(55,455)	(39,779)
Addition	98,904	19,100
Interest	44,458	31,469
Foreign exchange movement
Business combination	76,855	61,365
Other	(1,574)
Liabilities arising from financing activities, ending	447,703	284,515	212,360
Loans And Financing [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Liabilities arising from financing activities, beginning	60,357	77,829	3,823
Payments	(155,090)	(75,093)	(6,492)
Addition	605,041	7,383	74,980
Interest	10,031	6,025	2,821
Foreign exchange movement	21,279	1,126	2,697
Business combination	75,815	43,087
Other	52
Liabilities arising from financing activities, ending	R$ 617485	R$ 60357	77,829
Related Parties [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Liabilities arising from financing activities, beginning			106
Payments			(106)
Addition
Interest
Foreign exchange movement
Business combination
Other

12 Financial assets and fina_16

12 Financial assets and financial liabilities (Details Narrative) R$ in Thousands	May 09, 2019	Dec. 05, 2018	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)Number	Aug. 13, 2019BRL (R$)
Disclosure of redesignated financial assets and liabilities [line items]
Contractual lease term			1 year	1 year
Amount recognized lease expense from short-term leases and low-value assets			R$ 2555	R$ 4494
Foreign Currency Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Percentage of sensitivity change in the Euro exchange rate				10.00%
Closing foreign exchange rate | Number				4.439
Foreign Currency Risk [Member] | Euro
Disclosure of redesignated financial assets and liabilities [line items]
Closing foreign exchange rate | Number				1
Instituto de pesquisa e ensino medico do estado de minas gerais ltda. ("IPEMED") [member]
Disclosure of redesignated financial assets and liabilities [line items]
Description of Installments payable	Five equal installments
FADEP - Faculdade Educacional De Pato Branco Ltda. ("FADEP") [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Description of Installments payable		The first installment was paid in June 2019, the second installment was paid in December 2019, and the last installment is due in June 2020.
Instituto Paraense De Educacao E Cultura Ltda. (IPEC) [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Cash on the transaction closing date					R$ 54000
Bottom of Range [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Contractual lease term			5 years
Top of Range [member]
Disclosure of redesignated financial assets and liabilities [line items]
Contractual lease term			30 years
CashEquivalentMember | Foreign Currency Risk [Member]
Disclosure of redesignated financial assets and liabilities [line items]
Exposure risk			R$ 70523	R$ 2529

13 Fair value measurement (Deta

13 Fair value measurement (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value measurement of assets [line items]
Trade receivable (non-current)	R$ 7627	R$ 9801
Restricted Cash	2,053	16,841
Loans and financing	617,485	60,357
Lease liabilities	(447,703)	(284,515)	R$ 212360
Accounts payable to selling shareholders	(518,240)	(300,237)
Notes payable	76,181
At Fair Value [member]
Disclosure of fair value measurement of assets [line items]
Derivative financial liabilities, Cross-currency interest rate swaps		(757)
For Which Fair Value Is Disclosed [Member]
Disclosure of fair value measurement of assets [line items]
Trade receivable (non-current)	7,627	9,801
Restricted Cash	2,053	16,841
Loans and financing	(637,723)	(60,443)
Lease liabilities	(447,703)	(284,515)
Accounts payable to selling shareholders	(518,240)	(300,237)
Notes payable	(76,181)
Level 1 Of Fair Value Hierarchy [member] | At Fair Value [member]
Disclosure of fair value measurement of assets [line items]
Derivative financial liabilities, Cross-currency interest rate swaps
Level 1 Of Fair Value Hierarchy [member] | For Which Fair Value Is Disclosed [Member]
Disclosure of fair value measurement of assets [line items]
Trade receivable (non-current)
Restricted Cash
Loans and financing
Lease liabilities
Accounts payable to selling shareholders
Notes payable
Level 2 Of Fair Value Hierarchy [member] | At Fair Value [member]
Disclosure of fair value measurement of assets [line items]
Derivative financial liabilities, Cross-currency interest rate swaps		(757)
Level 2 Of Fair Value Hierarchy [member] | For Which Fair Value Is Disclosed [Member]
Disclosure of fair value measurement of assets [line items]
Trade receivable (non-current)	7,627	9,801
Restricted Cash	2,053	16,841
Loans and financing	(637,723)	(60,443)
Lease liabilities	(447,703)	(284,515)
Accounts payable to selling shareholders	(518,240)	(300,237)
Notes payable	(76,181)
Level 3 Of Fair Value Hierarchy [Member] | At Fair Value [member]
Disclosure of fair value measurement of assets [line items]
Derivative financial liabilities, Cross-currency interest rate swaps
Level 3 Of Fair Value Hierarchy [Member] | For Which Fair Value Is Disclosed [Member]
Disclosure of fair value measurement of assets [line items]
Trade receivable (non-current)
Restricted Cash
Loans and financing
Lease liabilities
Accounts payable to selling shareholders
Notes payable

14 Capital management (Details)

14 Capital management (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Capital Management
Loans and financing	R$ 617485	R$ 60357
Lease liabilities	447,703	284,515	R$ 212360
Accounts payable to selling shareholders	518,240	300,237
Notes payable	76,181
Less: cash and cash equivalents	(1,045,042)	(943,209)	R$ 62260	R$ 25490
Less: restricted cash	(2,053)	(16,841)
Net debt	612,514	(314,941)
Total equity	2,833,780	2,113,726
Total equity and net debt	R$ 3446294	R$ 1798785

15 Labor and social obligatio_3

15 Labor and social obligations (Details)	Mar. 29, 2019Number$ / shares	[1]	Feb. 07, 2019Number$ / shares	May 15, 2018Number$ / shares	Dec. 31, 2020Number	Nov. 30, 2020	Aug. 31, 2020	Mar. 31, 2020Number	Sep. 30, 2019Number
Labor And Social Obligations
Weighted average fair value at the measurement date	$ 684.22		$ 529.12	$ 366.16
Dividend yield (%)	0.00%		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Expected volatility (%)	43.70%		45.50%	49.50%	69.00%			39.70%	38.90%
Risk-free interest rate (%)	7.20%		7.60%	7.70%	0.90%			0.80%	1.40%
Expected life of stock options (years) | Number	4		4	4	1			4	5
Weighted average share price	$ 213.35		$ 368.41	$ 254.13
Model used	Black & Scholes		Monte Carlo	Monte Carlo	Binomial	Binomial	Binomial	Binomial	Binomial
[1]	After the corporate reorganization described in Note 1, the options originally granted under the Guardayas plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazils plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization

15 Labor and social obligatio_4

15 Labor and social obligations (Details 1) - Number		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Labor And Social Obligations
Options outstanding at the beginning	[1]	1,291,248
Granted	[1]	293,860	1,434,720
Forfeited	[1]
Addition of Guardaya's plan	[1]	257,320
Exercised	[1]	(1,842,428)	(143,472)
Expired	[1]
Options outstanding at the ending	[1]		1,291,248
[1]	The number of common shares outstanding from Afya Brazil was retrospectively adjusted in the proportion of 1:28 due to the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya, which did not result in changes on the arrangements of the plans.

15 Labor and social obligatio_5

15 Labor and social obligations (Details 2)		12 Months Ended
		Dec. 31, 2020Number$ / shares	Dec. 31, 2019Number$ / shares	Dec. 31, 2018Number	Dec. 31, 2017Number
Number of stock options
Outstanding at the beginning	[1]			1,291,248
Granted	[1]		293,860	1,434,720
Forfeited	[1]
Exercised	[1]		(1,842,428)	(143,472)
Expired	[1]
Outstanding at the ending	[1]			1,291,248
Weighted average exercise price
Outstanding at the beginning | $ / shares		$ 74.53
Granted | $ / shares		94.55
Forfeited | $ / shares		74.57
Exercised | $ / shares		96.20
Outstanding at the ending | $ / shares		$ 78.22	$ 74.53
Stock option [member]
Number of stock options
Outstanding at the beginning		2,510,983	2,364,214
Granted		477,220	2,364,214
Forfeited		(274,359)
Exercised		(56,092)
Expired
Outstanding at the ending		2,510,983	2,364,214
[1]	The number of common shares outstanding from Afya Brazil was retrospectively adjusted in the proportion of 1:28 due to the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya, which did not result in changes on the arrangements of the plans.

15 Labor and social obligatio_6

15 Labor and social obligations (Details 3) R$ in Thousands	Mar. 29, 2019Number	[1]	Feb. 07, 2019Number	May 15, 2018Number	Dec. 31, 2020Number$ / shares	Nov. 30, 2020$ / shares	Aug. 31, 2020$ / shares	Mar. 31, 2020Number$ / shares	Sep. 30, 2019Number$ / shares	Dec. 31, 2020BRL (R$)	Nov. 30, 2020BRL (R$)	Mar. 31, 2020BRL (R$)	Sep. 30, 2019BRL (R$)
Labor And Social Obligations
Strike price at the measurement date | R$										R$ 97	R$ 126	R$ 19	R$ 19
Dividend yield (%)	0.00%		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Expected volatility (%)	43.70%		45.50%	49.50%	69.00%			39.70%	38.90%
Risk-free interest rate (%)	7.20%		7.60%	7.70%	0.90%			0.80%	1.40%
Expected life of stock options (years) | Number	4		4	4	1			4	5
Share price at the measurement date					$ 119.78	$ 145.15	$ 136	$ 16.30	$ 21.90
Model used	Black & Scholes		Monte Carlo	Monte Carlo	Binomial	Binomial	Binomial	Binomial	Binomial
Weighted average fair value at the measurement date					$ 40.38	$ 56.43	$ 67.12	$ 3.94	$ 6.55
[1]	After the corporate reorganization described in Note 1, the options originally granted under the Guardayas plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazils plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization

15 Labor and social obligatio_7

15 Labor and social obligations (Details 4) R$ / shares in Units, R$ in Thousands

Mar. 29, 2019Number

[1]

Feb. 07, 2019Number

May 15, 2018Number

Dec. 31, 2020Number$ / shares

Nov. 30, 2020Number$ / shares

Aug. 31, 2020Number$ / shares

Mar. 31, 2020Number$ / shares

Sep. 30, 2019Number$ / shares

Dec. 31, 2020Number$ / shares

Dec. 31, 2020BRL (R$)R$ / shares

Nov. 30, 2020BRL (R$)

Aug. 31, 2020BRL (R$)

Mar. 31, 2020BRL (R$)

Sep. 30, 2019BRL (R$)

LaborAndSocialObligationsLineItems [Line Items]

Strike price at the measurement date | R$

R$ 97

R$ 126

R$ 19

R$ 19

Dividend yield (%)

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

Expected volatility (%)

43.70%

45.50%

49.50%

69.00%

39.70%

38.90%

Risk-free interest rate (%)

7.20%

7.60%

7.70%

0.90%

0.80%

1.40%

Expected life of stock options (years)

4

4

4

1

4

5

Share price at the measurement date | $ / shares

$ 119.78

$ 145.15

$ 136

$ 16.30

$ 21.90

$ 119.78

Model used

Black & Scholes

Monte Carlo

Monte Carlo

Binomial

Binomial

Binomial

Binomial

Binomial

Weighted average fair value at the measurement date | $ / shares

$ 40.38

$ 56.43

$ 67.12

$ 3.94

$ 6.55

$ 40.38

Bottom of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Strike price at the measurement date | R$

R$ 74

Expected volatility (%)

40.00%

41.00%

Risk-free interest rate (%)

2.20%

2.20%

Expected life of stock options (years)

1

1

Top of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Strike price at the measurement date | R$

R$ 122

Expected volatility (%)

69.00%

75.00%

Risk-free interest rate (%)

6.90%

6.10%

Expected life of stock options (years)

5

5

Modified plan [member]

LaborAndSocialObligationsLineItems [Line Items]

Strike price at the measurement date | R$

R$ 74

Dividend yield (%)

0.00%

Share price at the measurement date | R$ / shares

R$ 133.68

Model used

Binomial

Weighted average fair value at the measurement date | R$ / shares

R$ 69.54

Modified plan [member] | Bottom of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Expected volatility (%)

41.00%

Risk-free interest rate (%)

2.00%

Expected life of stock options (years)

1

Modified plan [member] | Top of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Expected volatility (%)

76.00%

Risk-free interest rate (%)

4.90%

Expected life of stock options (years)

4

Original plan [member]

LaborAndSocialObligationsLineItems [Line Items]

Strike price at the measurement date | R$

[2]

R$ 99

Dividend yield (%)

[2]

0.00%

Share price at the measurement date | R$ / shares

[2]

R$ 133.68

Model used

[2]

Binomial

Weighted average fair value at the measurement date | R$ / shares

[2]

R$ 57.12

Original plan [member] | Bottom of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Expected volatility (%)

[2]

42.00%

Risk-free interest rate (%)

[2]

0.20%

Expected life of stock options (years)

[2]

1

Original plan [member] | Top of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Expected volatility (%)

[2]

76.00%

Risk-free interest rate (%)

[2]

0.40%

Expected life of stock options (years)

[2]

4

[1]

After the corporate reorganization described in Note 1, the options originally granted under the Guardayas plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazils plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization

[2]

The strike price of the original plan was based in U.S. dollars.

15 Labor and social obligatio_8

15 Labor and social obligations (Details 5) R$ in Thousands	Mar. 29, 2019Number	[1]	Feb. 07, 2019Number	May 15, 2018Number	Dec. 31, 2020Number$ / shares	Nov. 30, 2020Number$ / shares	Aug. 31, 2020Number$ / shares	Mar. 31, 2020Number$ / shares	Sep. 30, 2019Number$ / shares	Dec. 31, 2020BRL (R$)	Nov. 30, 2020BRL (R$)	Aug. 31, 2020BRL (R$)	Mar. 31, 2020BRL (R$)	Sep. 30, 2019BRL (R$)
LaborAndSocialObligationsLineItems [Line Items]
Strike price at the measurement date | R$										R$ 97	R$ 126		R$ 19	R$ 19
Dividend yield (%)	0.00%		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Expected volatility (%)	43.70%		45.50%	49.50%	69.00%			39.70%	38.90%
Risk-free interest rate (%)	7.20%		7.60%	7.70%	0.90%			0.80%	1.40%
Expected life of stock options (years) | Number	4		4	4	1			4	5
Share price at the measurement date | $ / shares					$ 119.78	$ 145.15	$ 136	$ 16.30	$ 21.90
Model used	Black & Scholes		Monte Carlo	Monte Carlo	Binomial	Binomial	Binomial	Binomial	Binomial
Weighted average fair value at the measurement date | $ / shares					$ 40.38	$ 56.43	$ 67.12	$ 3.94	$ 6.55
Bottom of range [member]
LaborAndSocialObligationsLineItems [Line Items]
Strike price at the measurement date | R$												R$ 74
Expected volatility (%)						40.00%	41.00%
Risk-free interest rate (%)						2.20%	2.20%
Expected life of stock options (years) | Number						1	1
Top of range [member]
LaborAndSocialObligationsLineItems [Line Items]
Strike price at the measurement date | R$												R$ 122
Expected volatility (%)						69.00%	75.00%
Risk-free interest rate (%)						6.90%	6.10%
Expected life of stock options (years) | Number						5	5
[1]	After the corporate reorganization described in Note 1, the options originally granted under the Guardayas plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazils plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization

15 Labor and social obligatio_9

15 Labor and social obligations (Details Narrative) R$ in Thousands

Dec. 16, 2020BRL (R$)Number

Nov. 26, 2020BRL (R$)Number

Aug. 17, 2020BRL (R$)Number

Jul. 29, 2020$ / shares

Mar. 19, 2020BRL (R$)Number

Sep. 25, 2019Number

Sep. 02, 2019Number

Mar. 29, 2019$ / shares

[2]

Feb. 07, 2019$ / shares

May 15, 2018$ / shares

Dec. 31, 2020shares

Nov. 30, 2020

Aug. 31, 2020

Mar. 31, 2020

Sep. 30, 2019BRL (R$)shares

Feb. 28, 2019

Jun. 30, 2018

Dec. 31, 2020$ / sharesshares

Dec. 31, 2020BRL (R$)shares

Dec. 31, 2019BRL (R$)Numbershares

Dec. 31, 2018BRL (R$)Numbershares

LaborAndSocialObligationsLineItems [Line Items]

Compensation of employees

R$ 9514

R$ 6871

R$ 1945

Number of shares issued (in share) | shares

93,146,731

93,146,731

93,146,731

89,744,275

1,443,541

Number of stock option granted | Number

[1]

293,860

1,434,720

Stock options granted %

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

Average per option | $ / shares

$ 213.35

$ 368.41

$ 254.13

Model used

Black & Scholes

Monte Carlo

Monte Carlo

Binomial

Binomial

Binomial

Binomial

Binomial

Share based compensation plans [member]

LaborAndSocialObligationsLineItems [Line Items]

Description of vesting period

Vesting periods after the grant date: 10% after 90 days, 15% after 15 months, 25% after 27 months, 25% after 39 months and 25% after 51 months.

Vesting periods after the grant date: 10% after 90 days, 15% after 12 months, 25% after 24 months, 25% after 36 months and 25% after 48 months.

Vest in five installments of 20% per year, starting on May 1.

Share-based compensation expense

R$ 32610

R$ 11040

Number of stock option granted | Number

5,220

115,000

127,000

230,000

58,000

2,306,213

Exercise price

R$ 97

R$ 126

R$ 19

Annual installments | Number

1

5

4

Stock options granted %

25.00%

Average per option | $ / shares

$ 11.53

Model used

Binomial pricing model

Binomial pricing model

Share based compensation plans [member] | IPO [member]

LaborAndSocialObligationsLineItems [Line Items]

Share-based compensation expense

R$ 7074

R$ 2161

Share based compensation plans [member] | IPO [member] | Class A common shares [member]

LaborAndSocialObligationsLineItems [Line Items]

Number of shares issued (in share) | shares

1,842,428

Proceeds from issaunce of shares

R$ 17627

Share based compensation plans [member] | Guardaya Stock Options [Member]

LaborAndSocialObligationsLineItems [Line Items]

Description of vesting period

Vesting periods: 10% after 1 year, 15% after 2 years, 25% after 3 years and 50% after 4 years.

Share based compensation plans [member] | Bottom of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Exercise price

R$ 74

Annual installments | Number

3

Share based compensation plans [member] | Top of range [member]

LaborAndSocialObligationsLineItems [Line Items]

Exercise price

R$ 122

Annual installments | Number

5

Modified plan [member]

LaborAndSocialObligationsLineItems [Line Items]

Stock options granted %

0.00%

Average per option | $ / shares

$ 15.94

Model used

Binomial

[1]

The number of common shares outstanding from Afya Brazil was retrospectively adjusted in the proportion of 1:28 due to the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya, which did not result in changes on the arrangements of the plans.

[2]

After the corporate reorganization described in Note 1, the options originally granted under the Guardayas plan granted on August 10, 2018 were remeasured at fair value and included in Afya Brazils plan with no changes to the previous terms and conditions other than the shares subject to such options granted and, consequently, the number of stock and exercise price of the shares as per the share exchange ratio applied on the corporate reorganization

16 Equity (Details Narrative)

16 Equity (Details Narrative) R$ / shares in Units, R$ in Thousands

Jan. 31, 2021R$ / sharesshares

Jun. 18, 2019BRL (R$)shares

Mar. 29, 2019BRL (R$)shares

Mar. 12, 2019BRL (R$)

Mar. 08, 2019BRL (R$)

Dec. 04, 2018BRL (R$)shares

Aug. 31, 2018BRL (R$)shares

Apr. 26, 2018BRL (R$)shares

Jun. 30, 2019BRL (R$)shares

Dec. 31, 2020BRL (R$)shares

Dec. 23, 2020shares

Jul. 20, 2020BRL (R$)

Dec. 31, 2019BRL (R$)shares

Jul. 23, 2019shares

Jun. 13, 2019BRL (R$)

Mar. 12, 2019$ / sharesshares

Mar. 08, 2019$ / sharesshares

Dec. 31, 2018BRL (R$)shares

Share capital

R$ 17

R$ 17

R$ 315000

Total number of shares | shares

93,146,731

89,744,275

1,443,541

Additional paid-in capital

R$ 2323488

R$ 17531

R$ 1931047

Capital increase with earnings reserves

R$ 80541

Renounce of dividends for prior years

R$ 4107

Cancellation of dividend

R$ 4107

Dividend payables

12,984

R$ 38000

Uniao educacional do planalto central s.a. ("UEPC") [member]

Proceeds from issue of ordinary shares

R$ 36358

R$ 137051

Centro De Ciencias Em Saude De Itajuba S.A. ("CCSI") [Member]

Dividend payables

4,592

IESVAP [member]

Dividend payables

R$ 8392

Class A Ordinary Shares [Member]

Total number of shares | shares

45,112,416

31,814,690

Proceeds from issue of ordinary shares

R$ 3260480

Additional paid-in capital

R$ 141976

Repurchase of ordinary shares | shares

1,015,844

Class A Ordinary Shares [Member] | Events After Reporting Periods [Member]

Repurchase of ordinary shares | shares

521,117

Weighted average price | R$ / shares

R$ 124.15

Class A Ordinary Shares [Member] | Events After Reporting Periods [Member] | USD

Weighted average price | R$ / shares

R$ 22.51

Ordinary Shares [Member]

Total number of shares | shares

137,298

124,994

1,411,895

Proceeds from issue of ordinary shares

R$ 99999

R$ 55000

Ordinary Shares [Member] | Nicolau Carvalho Esteves [Member]

Repurchase of ordinary shares | shares

160,000

Acquisition price | $ / shares

$ 206.25

Acquisitions held by shareholders

R$ 33001

Ordinary Shares [Member] | Uniao educacional do planalto central s.a. ("UEPC") [member]

Proceeds from issue of ordinary shares

R$ 24458

Number of shares in entity held by entity or by its subsidiaries or associates | shares

27,211

Ordinary Shares [Member] | BR Health Participacoes S.A. ("BR Health") And Guardaya Empreendimentos and Participacoes S.A. ("Guardaya") [Member]

Proceeds from issue of ordinary shares

R$ 122062

Number of shares in entity held by entity or by its subsidiaries or associates | shares

378,696

Ordinary Shares [Member] | BR Health Participacoes S.A. ("BR Health") [Member]

Proceeds from issue of ordinary shares

R$ 150000

Number of shares in entity held by entity or by its subsidiaries or associates | shares

156,337

37,200

Par value per share | $ / shares

$ 0.01

Ordinary Shares [Member] | FASA, IESP And Univaco [Member]

Proceeds from issue of ordinary shares

R$ 24310

Number of shares in entity held by entity or by its subsidiaries or associates | shares

157,202

Class B Preferred Shares [Member]

Total number of shares | shares

5,123

5,123

Description of ratio of convertible shares

Class B preferred shares were convertible into common shares at the ratio of 1 Class B preferred share for 1 common share, in certain situations.

Proceeds from issue of preference shares

R$ 1304

Class A Preferred Shares [Member]

Total number of shares | shares

26,523

26,523

Description of ratio of convertible shares

Convertible into common shares at the ratio of 1 preferred share for 17.7 common shares in the situations described in the Shareholders Agreement.

Proceeds from issue of preference shares

R$ 11670

Class B Ordinary Shares [Member]

Total number of shares | shares

48,034,315

57,929,585

Class A common shares [member]

Total number of shares | shares

13,888,887

17 Earnings per share (EPS) (De

17 Earnings per share (EPS) (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	[1]
Numerator
Net income attributable to equity holders of the parent	R$ 292075	R$ 153916	R$ 86353
Denominator
Weighted average number of outstanding shares	92,683,848	75,969,797	46,936,064
Effects of dilution from stock options	951,920	221,846	840,700
Weighted average number of outstanding shares adjusted for the effect of dilution	93,635,768	76,191,643	47,776,764
Basic earnings per share (R$)	R$ 3.15	R$ 2.03	R$ 1.84
Diluted earnings per share (R$)	R$ 3.12	R$ 2.02	R$ 1.81
[1]	Considers the effects from the contribution of the shareholders of Afya Brazil into Afya in a one-to-28 exchange for the shares of Afya Brazil contributed to Afya.

18 Revenue (Details)

18 Revenue (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue [abstract]
Tuition fees	[1]	R$ 1388735	R$ 856561	R$ 385784
Other		99,817	43,116	4,414
Deductions
Granted discounts		(89,017)	(43,767)	(11,104)
Early payment discounts		(29,299)	(8,523)	(3,189)
Returns		(11,437)	(7,462)	(1,801)
Taxes		(49,629)	(28,157)	(24,239)
PROUNI		(107,979)	(61,138)	(15,930)
Net revenue from contracts with customers		1,201,191	750,630	333,935
Timing of revenue recognition of net revenue from contracts with customers
Tuition, digital content and app subscription fees - Transferred over time		1,128,558	713,827	331,045
Other - Transferred at a point in time		R$ 72633	R$ 36803	R$ 2890
[1]	As mentioned in Note 1, the Company assessed, in connection with the social distancing requirements, whether it has satisfied all performance obligations of its contracts with customers, according to IFRS15, and concluded it was necessary to defer a portion of it's net revenues in the second semester of 2020. As result, R$2,361 of net revenue were deferred to the first semester of 2021 and recorded in advances from customers.

18 Revenue (Details 1)

18 Revenue (Details 1) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
RevenueLineItems [Line Items]
Types of services or goods		R$ 1201191	R$ 750630
Tuition fees	[1]	1,388,735	856,561	R$ 385784
Other		99,817	43,116	4,414
Timing of revenue recognition		1,201,191	750,630
Transferred over time		1,128,558	713,827	331,045
Transferred at a point in time		72,633	36,803	R$ 2890
Business Unit 1 [member]
RevenueLineItems [Line Items]
Types of services or goods		1,002,461	653,760
Tuition fees		997,055	648,957
Other		5,406	4,803
Timing of revenue recognition		1,002,461	653,760
Transferred over time		997,055	648,957
Transferred at a point in time		5,406	4,803
Business Unit 2 [member]
RevenueLineItems [Line Items]
Types of services or goods		200,349	100,750
Tuition fees		107,197	60,195
Other		93,152	40,555
Timing of revenue recognition		200,349	100,750
Transferred over time		131,503	64,870
Transferred at a point in time		68,846	35,880
Elimination Inter-Segment Transactions [member]
RevenueLineItems [Line Items]
Types of services or goods		(1,619)	(3,880)
Tuition fees
Other		(1,619)	(3,880)
Timing of revenue recognition		(1,619)	(3,880)
Transferred over time
Transferred at a point in time		R$ 1619	R$ 3880
[1]	As mentioned in Note 1, the Company assessed, in connection with the social distancing requirements, whether it has satisfied all performance obligations of its contracts with customers, according to IFRS15, and concluded it was necessary to defer a portion of it's net revenues in the second semester of 2020. As result, R$2,361 of net revenue were deferred to the first semester of 2021 and recorded in advances from customers.

19 Expenses and cost by natur_2

19 Expenses and cost by nature (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expenses And Cost By Nature
Cost of services	R$ 434654	R$ 308853	R$ 168052
General and administrative expenses	(402,855)	(239,120)	(70,034)
Total	(837,509)	(547,973)	(238,086)
Payroll	(446,473)	(324,252)	(156,623)
Hospital and medical agreements	(37,988)	(16,429)	(10,209)
Depreciation and amortization	(108,744)	(73,152)	(9,078)
Rent	(2,555)	(4,494)	(20,302)
Commercial expenses	(1,488)	(1,363)	(362)
Utilities	(5,892)	(6,628)	(2,701)
Maintenance	(20,746)	(8,658)	(2,373)
Share-based compensation	(32,610)	(18,114)	(2,161)
Tax expenses	(5,326)	(2,696)	(828)
Pedagogical services	(24,037)	(6,271)	(4,212)
Sales and marketing	(16,873)	(11,603)	(3,532)
Allowance for doubtful accounts	(32,081)	(15,040)	(7,714)
Travel expenses	(4,550)	(7,054)	(1,816)
Consulting fees	(31,276)	(13,060)	(7,245)
Other	(66,870)	(39,159)	(8,930)
Total	R$ 837509	R$ 547973	R$ 238086

20 Finance result (Details)

20 Finance result (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance Result
Income from financial investments	R$ 24479	R$ 25965	R$ 4680
Changes in fair value of derivative instruments	20,739		1,219
Interest received	11,876	9,680	4,364
Foreign exchange differences		13,321
Other	5,196	2,723	165
Finance income	62,290	51,689	10,428
Change in fair value of derivative instruments		(1,780)
Interest expense	(25,543)	(24,002)	(2,404)
Interest expense on lease liabilities	(44,458)	(31,469)
Financial discounts granted	(8,081)	(923)	(1,063)
Bank fees	(6,333)	(2,876)	(1,219)
Foreign exchange differences	(4,613)		(2,697)
IOF taxes (taxes on financial transactions)	(1,661)	(6,801)	(355)
Other	(7,580)	(4,514)	(416)
Finance expenses	(98,269)	(72,365)	(8,154)
Finance result	R$ 35979	R$ 20676	R$ 2274

21 Income taxes (Details)

21 Income taxes (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Income Taxes
Income before income taxes	R$ 335054	R$ 186937		R$ 98722
Combined statutory income taxes rate - %	34.00%	34.00%		34.00%
Income taxes at statutory rates	R$ 113918	R$ 63559		R$ 33565
Reconciliation adjustments:
Tax effect on loss from entities not subject to taxation	(8,474)	(1,265)
PROUNI - Fiscal Incentive	120,851	73,397	[1]	30,564	[1]
Unrecognized deferred tax assets	(41,319)	(19,342)
Presumed profit income tax regime effect	(2,640)	351	[2]		[2]
Permanent adjustments	2,567
Tax effect over pre-acquisition losses	13,893
Other	1,973	(3,757)		(987)
Income taxes expense - current	R$ 27067	R$ 14175		R$ 3988
Effective rate	8.08%	7.58%		4.04%
[1]	The Company adhered to PROUNI, established by Law 11,096 / 2005, which is a federal program that exempt companies of paying income taxes and social contribution.
[2]	Brazilian tax law establishes that companies that generate gross revenues of up to R$ 78,000 in the prior fiscal year may calculate income taxes as a percentage of gross revenue, using the presumed profit income tax regime. The Company adopted this tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries.

21 Income Taxes (Details Narrat

21 Income Taxes (Details Narrative) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Statutory rates	34.00%	34.00%	34.00%
Unrecognized deferred income tax assets	R$ 214387	R$ 96627

22 Insurance contracts and co_3

22 Insurance contracts and contingencies (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Disclosure of types of insurance contracts [line items]
Balance as of beginning of the year	R$ 5269		R$ 3465	R$ 1720
Business combinations	32,576		4,372	2,089
Additions	19,284	[1]	2,245	13
Reversals	(3,990)		(4,813)	(357)
Balances as of end of the year	53,139		5,269	3,465
Legal proceedings and contingencies [member] | Labour [member]
Disclosure of types of insurance contracts [line items]
Balance as of beginning of the year	2,501		2,233	297
Business combinations	2,348		3,301	2,089
Additions	10,869	[1]	737	13
Reversals	(2,705)		(3,770)	(166)
Balances as of end of the year	13,280		2,501	2,233
Legal proceedings and contingencies [member] | Civil [member]
Disclosure of types of insurance contracts [line items]
Balance as of beginning of the year	2,768		1,232	1,423
Business combinations	2,741		1,071
Additions	562	[1]	1,508
Reversals	(1,285)		(1,043)	(191)
Balances as of end of the year	4,519		2,768	1,232
Legal proceedings and contingencies [member] | Taxes [member]
Disclosure of types of insurance contracts [line items]
Balance as of beginning of the year
Business combinations	27,487
Additions	7,853	[1]
Balances as of end of the year	R$ 35340
[1]	The total amount of R$ 9,940 are related to legal proceedings attributed to the selling shareholders administration. The same amount was recorded as indemnification assets in the balance sheet in other assets.

22 Insurance contracts and co_4

22 Insurance contracts and contingencies (Details 1) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of types of insurance contracts [line items]
Total	R$ 66662	R$ 50288
Legal proceedings and contingencies [member] | Labour [member] | Risk [member]
Disclosure of types of insurance contracts [line items]
Total	2,318	3,570
Legal proceedings and contingencies [member] | Civil [member] | Risk [member]
Disclosure of types of insurance contracts [line items]
Total	59,969	39,135
Legal proceedings and contingencies [member] | Taxes and Social Security [member] | Risk [member]
Disclosure of types of insurance contracts [line items]
Total	R$ 4375	R$ 7583

22 Insurance contracts and co_5

22 Insurance contracts and contingencies (Details Narrative) - Other assets (non-current) [member] - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of types of insurance contracts [line items]
Judicial deposits	R$ 1451	R$ 804
Contingencies correspondent amount	R$ 53499	R$ 6690

24 Subsequent events (Details N

24 Subsequent events (Details Narrative) R$ in Thousands, $ in Thousands	Apr. 30, 2021	Apr. 27, 2021USD ($)	Apr. 16, 2021BRL (R$)	Apr. 08, 2021BRL (R$)	Mar. 31, 2021	Mar. 25, 2021BRL (R$)	Jan. 31, 2021	Oct. 09, 2020BRL (R$)	Apr. 27, 2021BRL (R$)
Events After Reporting Periods [Member]
Disclosure of non-adjusting events after reporting period [line items]
Descrition of Share-based compensation	In April 2021, 139,000 additional stock options were granted, with an exercise price of R$105 (in Brazilian Reais). These stock options will vest in five annual installments.				In March 2021, 65,000 additional stock options were granted, with an exercise price of R$105 (in Brazilian Reais). These stock options will vest in five annual installments.		In January 2021, 545,000 additional stock options were granted, with an exercise price of R$115 (in Brazilian Reais). These stock options will vest in five annual installments.
Events After Reporting Periods [Member] | SoftBank Latin America Fund [member] | Series A perpetual convertible preferred shares [member]
Disclosure of non-adjusting events after reporting period [line items]
Aggregate purchase price									R$ 822000
Descrition of key terms of the perpetual convertible preferred shares		- Entitled to receive 6.5% per annum cumulative dividend payable quarterly and in BRL (payable in USD in BRL equivalent); - Softbank shall have the right at any time, to convert its Series A Preference Shares into 5,917,888 common shares, established at US$25.35 (20% premium in VWAP – US$21.12); - Softbank shall have the right to redeem any time after the 5th year anniversary at 105% premium; - Afya will have the right to force conversion after the 3rd year anniversary if forced conversion trigger conditions are satisfied.
Events After Reporting Periods [Member] | SoftBank Latin America Fund [member] | Series A perpetual convertible preferred shares [member] | USD [member]
Disclosure of non-adjusting events after reporting period [line items]
Aggregate purchase price | $		$ 150,000
iClinic participacoes s.a [member]
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest								100.00%
Aggregate purchase price								R$ 182656
Acquisition date								Jan. 21, 2021
Description of payement								(i) 61.5% is payable in cash, and (ii) 38.5% is payable with Afya's shares on the transaction closing date.
Transaction costs								R$ 421
Medicinae solutions s.a [member] | Events After Reporting Periods [Member]
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest						100.00%
Aggregate purchase price						R$ 5600
Description of payement						100% was paid in cash on the transaction closing date.
Transaction costs						R$ 169
Business combinations earn out amount						R$ 4400
Medical harbour aparelhos medico hospitalares e servicos em tecnologia ltda [member] | Events After Reporting Periods [Member]
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest				100.00%
Aggregate purchase price				R$ 5000
Description of payement				100% was paid in cash on the transaction closing date.
Transaction costs				R$ 48
Business combinations earn out amount				R$ 9000
Cliquefarma drogarias online ltda [member] | Events After Reporting Periods [Member]
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest			100.00%
Aggregate purchase price			R$ 19165
Paid in cash			16,165
Paid in stocks			3,000
Transaction costs			22
Business combinations earn out amount			R$ 3000