-- Taimma to be merged into Ebix's A.D.A.M. Division
-- Expands Ebix's Reach into the Biotechnology and Pharmaceutical
Industries
-- Ebix to use Taimma's Mobile expertise to sell Medical Apps on Apple's
iTunes Store
Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has signed an agreement to acquire Montreal based Taimma Communications Inc., a leading provider of innovative E-Learning medical education solutions to the pharmaceutical, biotechnology and healthcare industries. Ebix also announced that Taimma would be immediately integrated into its A.D.A.M. Health Information Exchange Division.
Ebix expects the transaction to be accretive to Ebix Earnings per Share (EPS). Ebix disclosed that it funded this transaction completely in cash using its existing cash reserves. No Ebix shares were issued and no investment bankers were involved in the transaction on the Ebix side.
Founded in 2005, Taimma specializes in providing innovative, best-in-class, custom, and off-the-shelf medical learning programs to meet the unique needs of the biomedical and pharmaceutical industries. Taimma's state-of-the-art E-Learning platform provides a variety of services to be utilized by the principal constituents involved in the Health insurance industry:
-- In addition to customized training, Taimma owns a library of over 140
courses and thousands of life science art elements developed by
experienced medical writers and artists.
-- Taimma brings to Ebix the technical expertise to develop customized
mobile learning ("M-Learning") materials that is presently available
through iTunes, Android and Amazon app stores. It also creates content
that is delivered through a variety of Learning Management Systems.
-- Taimma's R&D efforts have resulted in solving the problems related to
running Flash media on Apple devices. iTunes recently approved Taimma's
launch of Flash training content that runs on iPad, iPad2, and the
iPhone.
-- Taimma's customer base includes many leading Pharmaceutical companies
such as Pfizer, Bayer, GlaxoSmithKline and Purdue etc. to whom the
Company provides customized medical M-Learning tools for training their
sales representatives.
-- For the healthcare industry, Taimma offers an intelligent engine for
converting traditional paper-based content into highly interactive
E-Learning modules. Additionally, its simulation- based training offers
an enriching experience that exposes users to real life clinical
situations.
-- Taimma's products allow insurance companies and agencies to provide
comprehensive patient education programs. For example, Patient discharge
courses can be implemented to educate patients on their unique situation
and how to care for themselves post any operation. The area of patient
education is a big priority today for large insurance companies, state
and federal governments.
-- Taimma's ability to convert legacy content into engaging electronic
media can be leveraged to create extremely engaging M-learning content,
while replacing print media in the medical and healthcare communications
industry.
Ebix Chairman of the Board, President & CEO Robin Raina said, "We are excited to be entering the M-Learning markets through the acquisition of Taimma. The success of the iPad and similar handheld devices has opened up tremendous opportunities in the field of medical education and M-Learning. We intend to utilize Taimma's technology and course expertise in this area to expand our A.D.A.M. Division's reach further into newer areas like the Pharmaceutical & Bio-Technology industries."
"The combination of A.D.A.M. content and Taimma's M-Learning expertise & deep pockets in the Pharmaceutical & Bio-Technology industries helps us to expand the reach & depth of our Health Content Exchange." Robin said, "We are excited with our ability to take our vast medical content and sell it in the form of mobile Apps over worldwide distribution platforms like the Amazon and Apple's iTunes stores."
Taimma President Soula Chronopoulos said, "Ebix is a logical home for Taimma, as we were looking to be part of an innovative leading Company that could expand our reach and vision of M-Learning across the world. The A.D.A.M. expertise, health content and customer base is a perfect complement for Taimma's courseware, E-learning content and technology. We are excited about the possibilities this merger offers for both our customers and employees."
About Taimma Communications Inc.
Taimma Communications Inc., is a leading provider of innovative E-Learning medical education solutions to various constituents of the healthcare industry. The Company specializes in the development of innovative, best-in-class, custom, and off-the-shelf medical learning programs to meet the unique needs of the biomedical and pharmaceutical industries. For more information, visit http://www.taimma.com/
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). With a recent ISO 27001-security certification, the Company also has a ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com
The Ebix, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12133
CONTACT: Steven Barlow
678-281-2043 or steve.barlow@ebix.com
or
Aaron Tikkoo
678-281-2027 or atikkoo@ebix.com