RMG Networks, a place-based video entertainment company, has acquired Pharmacy TV, an in-store narrowcast media network for pharmacy retail chains. No financial terms were disclosed. RMG Networks is a portfolio company of Kleiner Perkins and National CineMedia LLC, while Pharmacy TV had raised a small amount of funding from Nueva Ventures.
RMG Networks announced today the acquisition of Pharmacy TV, a digital place-based video network deployed near the pharmacist counter in major grocery chains and pharmacy retailers. The network entertains and informs customers with wellness-related video content and relevant messages from the retailer and brand advertisers. The transaction adds a powerful consumer care marketing solution to RMG’s rapidly growing place-based media portfolio.
RMG Networks plans to accelerate Pharmacy TV deployments throughout 2010, involving both existing and newly-established venue relationships with major retail chains. The network is currently being deployed within select ShopRite grocery locations.
“RMG is focused on informing and entertaining consumers when they are on-the-go. Pharmacies are a great location to engage consumers who are receptive to health and wellness messages in an environment that is distraction free,” said Garry McGuire CEO of RMG Networks, which operates additional place-based networks in fitness clubs, downtown cafés and airlines.
“RMG Networks is the best possible home for Pharmacy TV,” adds Keith Bough who was COO at Pharmacy TV and will remain with the network in a similar role at RMG. “The high dwell times and solid base of endemic advertisers have made healthcare and wellness customers among the most sought after audiences in the place-based media industry. I believe that RMG’s experienced team, unique perspective and sound strategy have us positioned for tremendous growth and success.”
In addition to Mr. Bough, RMG has tapped Rick Granato as VP and General Manager of the Pharmacy TV business unit. Rick was previously Vice President of Sales for Accent Health, a place-based video network deployed in doctors’ waiting rooms. Most recently Mr. Granato was the CEO of Exam Room Interactive and brings with him a wealth of category experience. “I am excited about joining the RMG management team and helping lead the expansion of Pharmacy TV. The company’s commitment to delivering a best in class value to its audiences will help make Pharmacy TV an integral part of a brand’s media strategy.”
About RMG Networks
RMG Networks is a leading place-based, video entertainment company. Our In-Flight Entertainment, Fitness Entertainment, Pharmacy TV, and NYTimes.com Today networks reach 25 million highly desirable and elusive viewers every month, leveraging over 60,000 video screens nationwide. RMG Networks is backed by National CineMedia, LLC (NCM), operator of the largest digital in cinema network in North America, and Kleiner Perkins Caufield & Byers (KPCB), a leading venture capital firm with a rich history of building entrepreneurial investments into successful enterprises. For more information, please visit www.RMGnetworks.com