Ebix, a vendor of on-demand and e-commerce services, has acquired A.D.A.M., which provides health information and benefits technology services. Both companies are headquartered in Atlanta.
Under the terms of the agreement, termed a merger in a release, A.D.A.M. shareholders will receive 0.3122 of Ebix common stock for each share of A.D.A.M. common stock in a tax-free reorganization; this represents a $19.06 agreed value of Ebix common stock.
Among the benefits of the combination, the companies claim they will be able to provide an end-to-end health and employee benefit software services on an SaaS-based platform integrating benefit portals, enrollment, claims adjudication, accounting, broker systems, COBRA and back-end processing.
"At a particularly challenging time for the health insurance industry, we believe that this combination vaults the combined company into a powerful role with respect to employers, brokers, carriers and health insurance organizations — together we expect to shape the health insurance industry for years to come," Robin Raina, president, CEO and chairman of the board for Ebix, says in a statement.
Ebix acquired Brazil-based MCN at the beginning of this year.
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio