Ebix, an Atlanta-based international supplier of on-demand software and e-commerce services to the insurance, finance and healthcare industries, has acquired Healthcare Magic.
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Ebix funded the US$6 million transaction using its internal cash reserves with a contingent earn-out of up to US$12.5 million payable after two years.
Healthcare Magic is a Bangalore-based medical advisory service with an online network of approximately 15,000 general physicians and surgeons across 50 specialties including alternative medicine. Ebix will integrate Healthcare Magic’s services into its ADAM Health Division, which focuses on providing innovative multimedia health content for websites and consumer health portals of healthcare, biomedical, medical device, pharmaceutical and academic organizations.
Majmudar & Partners represented Healthcare Magic on the deal. Partner N Raja Sujith led the team. Delhi law firm Sastra Legal advised Ebix.
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