Fluoride containing borosilicates find interesting applications in biomedical transplants and dentistry, wherein calcium and magnesium play pivotal role in human bone formation. In the present work, calcium and magnesium fluoride containing borosilicate glass matrix composites were synthesized via sol-gel route. The as synthesized and heat-treated samples were characterized using various techniques such as X-ray diffractometer (XRD), Fourier transform infrared spectroscopy (FT-IR), and thermogravimetric analysis (TGA). and Scanning Electron Microscopy-Energy dispersive spectroscopy (SEM-EDS). The samples were stabilized at suitable temperature based on the thermogravimetric analysis (TGA). The XRD patterns of as prepared samples showed various crystalline phases with varied degree of crystallinity. Heat-treated samples were tested for their in–vitro bioactivity. Interaction at sample-SBF interface was investigated by dipping the samples in simulated body fluid (SBF) at 37 °C. The analysis of the samples dipped in SBF and that of the residual SBF was carried out using various characterization techniques. Increasing the ageing time, the samples exhibited better in-vitro bioactivity.