Seeking Alpha

Ebix buys medical advisory site Healthcare Magic

  • Ebix (EBIX +1%) has bought Healthcare Magic, owner of a medical advisory site that allows users to ask questions to a network of 15K+ doctors. The company is paying in $6M in cash and up to $12.5M in future earn-outs.
  • Healthcare Magic averages 130 queries/hour, supports lab report/picture attachments for questions, and charges for its service on both a per-usage and subscription basis. It also offers a B2B service to employers; clients include Vodafone and HSBC.
  • Ebix says it plans to offer Healthcare Magic's services to hospital clients to enable private networks and involving doctors and patients, and says it'll eventually launch a "cloud-based global medical treatment exchange for patients and healthcare providers with integrated phone and video based calling services."
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