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A $25-million merger facilitated by Wingate Private Equity and Sandbar Investments sees Medical Channel and Community Network merge to create Australia’s largest point-of-care digital marketing channel.
Branded Medical Channel, the merged entity will be the Australian market leader in providing digital media into the GP market, operating over 3,000 digital screens across Australian GP clinics.
Medical Channel provides national and local advertisers access to a uniquely targeted and captive audience. Dwell times in GP surgeries are relatively long, with an average of 30 minutes. This dwell time lends itself well to the promotion of text heavy advertisements, such as health, banking and insurance products. The screens also play a vital role in community and health education campaigns and provide an attractive alternative to the traditional brochure wall.
Driven by both the Managing Director of Sandbar Investments, Darren Smorgon and Wingate Private Equity Director, David Jackson, the Wingate Sandbar partnership will be the majority shareholder of Medical Channel.
Mr Smorgon and Mr Jackson will play an active role in Medical Channel at a Board level and will help shape the strategy going forward. They will join a strong board and management team, including Dr Phillip Wing and Nazar Musa who will be the Chairman and CEO of Medical Channel. .
Mr Jackson said the acquisition was significant in the Australian health vertical, coming at a time when digital out-of-home media is experiencing strong growth.
“The transaction is compelling with the business combination creating a clear market leader with a national presence. This presents a unique platform for advertisers to reach consumers in a targeted manner and measure returns. The growth opportunity is underpinned by a continued focus on innovation and exceptional service delivery for our customers and partners,” said Mr Jackson.
Mr Smorgon added “It is exciting for Sandbar investments to be co-investing alongside Wingate and the existing Medical Channel team. We believe that a monthly audience of more than [6 million] people will be attractive to national advertisers seeking to target an attractive and growing audience demographic and
Medical Channel CEO, Mr Musa is extremely positive about leading Medical Channel into its next phase of growth, and being able to deliver exceptional service for advertisers, including offering even greater access to patients and medical practitioners.
“This deal has doubled our reach to 3,000 digital screens across Australian GP clinics, ensuring we can offer advertisers unparalleled access. Medical Channel’s screens provide a credible marketing platform, with research demonstrating quantifiable results when delivering health-related content in a healthcare setting,” said Mr Musa.