F.Y.I.

MyHealth1ST signs significant advertising contract

MyHealth1ST signs significant advertising contract which is set to increase Q2 revenue by additional 10-15%.

The announcement:

1ST Group Limited (ASX: 1ST), the Australian online health, media and technology group, today announced that a leading eye care products company has signed an agreement to advertise its products to optometry customers on 1ST’s market-leading technology platform, MyHealth1st.com.au.

‘This agreement – which will increase 1ST’s Q2 revenue by an additional 10% and 15% – validates the group’s business model and demonstrates its potential as more health care practices join the MyHeath1ST platform,’ said Klaus Bartosch, 1ST Group’s managing director.

‘Around 60% of independent optometry practices have signed up to use the MyHealth1ST platform to book appointments, and increasingly they are also using our value-adding products such as EasyFeedback and EasyRecalls, for which we charge on a subscription basis or through a usage fee. The optometrists’ patients provide a highly engaged audience, and we are delighted that a leading eyecare products company has recognised the opportunity to leverage our market presence and unique capabilities.

‘The contract is for an initial purchase order for set-up fees and advertising up to 31 December 2017 to an initial audience selected from only 10-15% of 1ST’s optometry practices.

‘A year ago, we identified that the independent optometry market had limited access to online patient engagement products. In June 2016, we provided services to just 75 optometry stores, approximately 3% of the independent optometry market; this has grown to 60% in a year, and we now dominate the independent optometry market. Over 1,200 stores have now signed up to use the MyHealth1ST suite of products, which are estimated to serve over 5 million Australians with eye care needs.

‘A cornerstone value at 1ST is that healthcare advertising needs to be managed sensitively, focused on supporting our customers with valuable and educational healthcare content that benefits our users and can also help grow our customers’ revenue.

‘There are similar opportunities in the pharmacy and pet healthcare markets where we are leaders, as well as in other healthcare markets,’ said Mr Bartosch.

This advertising agreement recognises the third revenue source in 1ST’s business model and is the first deal signed since 1ST announced its partnership agreement with Tonic Health Media in June 2017. Tonic Health Media is an Australian owned integrated production, advertising, broadcast and print distribution company.

Source: Media release

ADVERTISEMENT

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.