RockStart’s portfolio company iClinic has been acquired by Ayfa Limited, which paid €27.9 million for 100 percent of the startup’s total share capital. This exit gives the Amsterdam-based accelerator a 20+ times return on its investment in iClinic from 2013.

iClinic is a medical practice management software in Brazil, open to physicians, dentists, psychologists, physical therapists and other health professionals. THere’s also a ‘physician marketplace’ where 16 million registered patients can find a new doctor.

Commenting on how the acquisition will bolster Afya’s offering, CEO Virgílio Gibbon says, “Besides medical and health education courses and a clinical decisions app, we will enter a new segment that helps physicians manage their clinics  and provide a better service to their patients.”

Of the transaction, 61.5 percent will be paid in cash, and 38.5 percent will be paid in Afya’s class A common shares.

The exit news comes one week after Rockstart announced a new €21 million fund to invest in European energy startups. The ‘Energy Fund’ will focus on five of the UN sustainable development goals: affordable and clean energy; industry, innovation and infrastructure; sustainable cities and communities; responsible consumption and production; and climate action.

Photo: Founders of iClinic

Comments are closed.