Ebix Acquires Healthcare Magic - Quick Facts

(RTTNews) - Ebix Inc. (EBIX), supplier of On-Demand software and E-commerce services to the insurance, finance and healthcare industries, announced that it has acquired Healthcare Magic - a medical advisory service with an online network of approximately 15,000 General Physicians and Surgeons spread across 50 specialties including alternative medicine.

Ebix noted that it will integrate the services from this acquisition into its A.D.A.M. Health Division. Ebix funded this transaction using its internal cash reserves.

The company paid $6 million in cash for Healthcare Magic with a contingent earn out of up to $12.5 million payable after 2 years.

Funded by Accel Partners before acquisition, the acquired Company's services can be accessed on www.healthcaremagic.com or by searching for "Ask a Doctor" service on Android Play Store or Apple iTunes.

The company caters to the B2B segment also by offering the service to Employers, who in turn offer it to their employees as a part of the Health and Wellness package. The employees and their families use the "Ask a Doctor" or "Ask a Dietician" service allowing them to seek advice on a 24-hour by 7-day basis. Large employers such as Vodafone, HSBC, McAfee, Akamai, Sapient, ICICI, Airbus, Bajaj and BMW etc. in India use the B2B service at present.

Ebix stated that it intends to launch the B2B service in the United States, to its network of hundreds of employers using its A.D.A.M. Health and wellness solutions.