Accel-funded Healthcaremagic.com, an online medical advisory service, has been acquired by Ebix, international supplier of on-demand software and e-commerce services to the insurance, finance and healthcare industries. Ebix has paid $6 million in cash for Healthcaremagic.com with a contingent earn out of up to $12.5 million payable after 2 years.
Healthcaremagic.com‘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. With an average of 130 queries per hour, Healthcaremagic.com also has B2B clients like Vodafone, HSBC, McAfee and ICICI.
From the Venture Intelligence PE Deal database: In February 2009 Accel India had invested $0.55 million in Healthcaremagic.com. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.