Under the new leadership of industry veteran Adam Cadwallader,. who joined the digital transit media company XTD on August 1, 2020 , the company is continuing to diversify its future acquiring the oOh! Media ‘Health’ network in an asset sale and purchase agreement in an all cash transaction.
This national health network operates in 58 ‘mega’ medical & dental facilities owned by Idameneo (No.123) Pty Ltd with an exclusive media contract. This contract is for an initial term of five years (actually commenced June 2019), with an automatic further renewal term of two years and an additional three years by mutual agreement.The network includes 77 digital displays positioned prominently within leading medical and dental facilities Australia wide.
XTD also announced this week, the launch of MOTIO Pty Ltd, a new specialist out-of-home media sales company.
XTD Managing Director Adam Cadwallader told us “We have been working on a vision to create a customer facing team that enables our own and potential partner networks, rich in customer data, to benefit from our experience in the ‘place based’ out-of-home sector. This is, without doubt, an opportunistic investment for XTD. We are acquiring a high quality digital-out-of-home network with Australia’s leading Medical Centre provider at a modest operating cost, providing an ideal launch- pad for our sales company, Motio. Each centre has provided critical input in the development of the network, pinpointing optimum positions for each display, producing a world class digital place-based network”.
We understand that unlike other networks in this sector, the Medical and Dental centre management are key stakeholders in its success. The network enables them to have direct, centralised access to communicate important messaging in an instant to their customers within these large scale, multi-disciplinary medical facilities. The network provides a true, usable amenity to the centres alongside rich content that XTD will continue to develop.
Adam Cadwallader said “Entertaining and engaging people in the waiting areas and key focal points such as pharmacy will enable brands to engage consumers with more than just advertising, unlocking the moment of maximum influence at the intersection of time, place and intent. This acquisition will allow us to expand our business within a sector that is clearly experiencing a spike in clientele at present and is central to XTD’s strategy of owning networks in out-of-home and advertising technology”.
MOTIO will officially begin operations on May 1 and XTD confirm they are in discussion with other Place Based and Out-Of-Home networks. The Cross-Track network remains under contract and exclusively represented by JCDecaux Australia.