US-based Ebix acquires Accel-funded HealthcareMagic

CoolAvenues Newswire | May 30,2014 01:34 pm IST

HealthcareMagic, a Bangalore based company, funded by Accel Partners is acquired by Ebix, a Nasdaq listed company Ebix reportedly paid $ 6 Million in cash with a contingent to earn up-to $ 12.5 Million after 2 years.

HealthcareMagic had raised $ 2.5 Million from Accel Partners in February 2009.

HealthcareMagic is an online and offline platform that connects healthcare professionals (GPs, Specialists, Dieticians, Counsellors etc) to the end users online who have health related questions. HealthcareMagic has an impressive global network of 15,000+ qualified doctors to answers any questions. HealthcareMagic has more than 100 doctors online from 50+ specialties any time of the day to answer the user’s queries.

Ebix plans to open up its B2B services in the US with HealthcareMagic’s network of doctors. This will be integrated into Ebix’s business unit ADAM which provides consumer health information and technology products to healthcare organizations, employers, consumers, and educational institutions.



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