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Swift Networks expands presence in the aged care sector

Thanks to Swift, miners on remote sites can access digital entertainment and wireless internet.
remote control pointed at TV
Shares in the company last traded at 25.5 cents

Swift Networks Group Ltd (ASX:SW1) has signed a contract with leading aged care provider, Infinite Care, to provide its services to the group’s newest facilities in Queensland.

The company provides fully integrated digital entertainment solutions to sectors including resources, hotel, lifestyle village and aged care.

The initial three-year contract will see Swift provide its aged care-specific package to 350 rooms in early 2019 across multiple sites.

Sites include Infinite Care’s state of the art facility in Mt Lofty, Toowoomba, which opens to residents next month, and its facility at Cornubia, south-east of Brisbane, which is due to open in early 2019.

Swift aims to grow alongside Infinite Care as a preferred partner

In addition to these Queensland sites, Infinite Care operates five existing facilities in South Australia, totalling 400 rooms.

The group aims to grow to 2,500 rooms by 2021 through greenfield development, expansion of existing facilities and targeted acquisitions in South Australia, New South Wales, Victoria and Western Australia.

As its preferred partner, Swift is currently working alongside Infinite Care to assess the feasibility of providing its services across these venues.

READ: Swift Networks secures exclusive content agreement with US-based Real Big Hits

Swift’s CEO Xavier Kris said: “Aged care is a rapidly growing and in-demand market, and Swift is delighted to form a partnership with Infinite Care at a time when Infinite and Swift are both accelerating expansion plans.

“Having Swift’s package included as part of Infinite Care’s new facilities at Toowoomba and Cornubia will add to the quality of life of new residents and we look forward to rolling out our services to more Infinite Care sites in lock step with their growth strategy.”

Infinite Care’s managing director Chris Stride said: “We’re excited at being able to offer extensive in-room entertainment options to our residents.

“We perceive Swift’s ability to provide increased connectedness for residents, to their family and the wider extended community as a key driver in our decision to select them for our new greenfield sites.”

Swift charges a fixed monthly fee

Swift provides digital content such as entertainment systems to its clients which are often remotely located.

The company charges its clients a fixed fee per room per month for the content they provide and the client then sells that to its guests or employees.

Swift’s services include free-to-air television, pay television, telecommunications, video on demand with content from some of Hollywood’s largest studios, integrated advertising and analytics.

View full SW1 profile View Profile

Swift Networks Group Ltd Timeline

Newswire
November 04 2016

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