Ebix, Inc.
02.04.2012 13:00
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-- 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
ATLANTA, 2012-04-02 13:00 CEST (GLOBE NEWSWIRE) -- 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
Steven Barlow
678-281-2043 or steve.barlow@ebix.com
or
Aaron Tikkoo
678-281-2027 or atikkoo@ebix.com
News Source: NASDAQ OMX
02.04.2012 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Ebix, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US2787152063
WKN:
End of Announcement DGAP News-Service
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DGAP-News: Ebix Enters Medical E-Learning & M-Learning Markets by Acquiring Montreal Based Taimma Communications Inc.
| Source: EQS Group AG