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.”
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