Business, Investments

Ebix acquires Bangalore based HealthcareMagic

Atlanta based international supplier of software and e-commerce solutions, Ebix, on Wednesday, announced the acquisition of HealthcareMagic. The company paid USD 6 million in cash with a contingent earn out of up to USD 12.5 million payable after 2 years.

Post acquisition, the portals’ services will be integrated into Ebix’s A.D.A.M. Health Division. A.D.A.M. is a business unit of Ebix focused on providing multimedia health content. 

Launched in 2008, the company is an initiative of CEO Kunal Sinha and is a medical advisory service with an online network of approximately 15,000 General Physicians and Surgeons spread across 50 specialties including alternative medicine.

The website was launched with an idea to transform how people approach their health and wellness. This online portal allows the users to have live chat with registered doctors over internet or phone 24×7 and also provides opinions of specialists such as cardiologists, Oncologists, Gynecologists, etc. for a small amount of fees.

Healthcare Magic’s round the clock “Ask a Doctor” service allows a consumer to write a health query, attach a picture or upload a lab report and post to doctors across the world in just a few clicks.

Also, it deals with an average of 130 queries per hour, and has a strong social networking presence of over 1 million twitter and Facebook followers. The service can be accessed on the web or from any mobile phone as an app using Android Play store or Apple iTunes service.

As said by Ebix President and Chief Executive Officer, Robin Raina, the company intend to offer this service to thousands of hospital clients, allowing them to create a private network between their Doctors and their patients. 

“This will open up the Consumer channel for Ebix’s various services besides helping us to expand our health and wellness portfolio of services for B2B clients,” said Robin.

Ebix also has offices in seven other countries – Australia, New Zealand, Singapore, China, Japan, Canada and India. 

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