Research shows that consumers are more receptive to health-related messages when in a healthcare environment— with 47% people more likely to believe an advertisement and 41% being more influenced by the information they receive in such settings.
With this premise, Sydney-based digital media company, Medical Channel, has announced the acquisition of rival digital signage firm— The Community Network— through a $25 million investment by big-names including Sandbar Investments, the Wingate Group and Tony Faure.
With this acquisition, Medical Channel will provide doctors and patients with highly-targeted health and wellbeing information that is displayed on advertising screens in medical waiting rooms and staff lounges. Interactive touch screens and innovative point-of-care systems will help patients make more informed decisions on the care and services that they may need.
Despite being in the Australian market for only four years now, Medical Channel has established itself as the fastest growing digital advertising platform in Australia. Earlier this year, the startup also acquired Medical Media, a rival company that provides television advertising in doctor’s staff rooms, thereby targeting health professionals.
At present, the startup has more than 7,000 engaged advertisers, including pharmaceutical companies, health organizations and boards. In addition to the traditional strategy of advertising pharmaceutical and healthcare companies, the acquisition will also allow Medical Channel to move into advertising for products and services offered by small local businesses. Restaurants, shopping stores, agents, and other small businesses can market their services to locals waiting to see their GP.
For the ambitious startup, this means it will grow from 2200 screens to more than 3000 across Australia, an audience of 6.25 million viewers per month, and advertisements having an estimated exposure time of 30 minutes— the approximate waiting time at the local GP.
Furthermore, exact demographics can be utilized to tailor information for a specific group of people such as the age, gender or ethnicity of patients who frequent their local health provider to create highly targeted and customized advertising.
Chief Executive of Medical Channel, Nazar Musa says the acquisitions were part of a strategy to quickly expand its monthly viewer numbers. He said,
We all know the doctors in our community. If you’re an organization that wants to reach a mass audience or a local business that wants to attract people sitting in the waiting room for at least half an hour, what better way to do so than to put an advert on our screens, especially if that advert is created for you by us?
Together, the digital advertising technology and solutions will reach a wider audience and create a greater impact. Over the upcoming year, Medical Channel will further strengthen its position as a market leader by integrating content with smartphones to give patients instant access to more personalized and up-to-date information.