Gulf Finance Medical Leasing is the first business of its type in the GCC to offer this service and will target the UAE healthcare sector initially before addressing other significant market opportunities across the region. The global market for the lease of medical equipment is growing rapidly and will be valued at AED 205 billion by 2017 with leasing being the preferred method to finance medical equipment in Europe and the United States where 40 per cent of all medical equipment is leased.
HH Sheikh Maktoum bin Hasher Al Maktoum, Executive Chairman of SHUAA, and Chairman of the Board of Gulf Finance said, ?SMEs typically account for more than 95 per cent of all businesses in a country, and Gulf Finance is committed to contributing to the growth of the UAE?s SMEs by aiming to provide for more than 10 per cent of the SME credit requirement in 2013. The healthcare industry ? which is one of the fastest growing SME sectors ? is booming, backed by rising incidence of chronic diseases and a growing need for medical procedures, products, and services. However, with rapid advancements in technologies, and surging prices for medical equipment; hospitals, healthcare practitioners, physicians and clinics find it difficult to maintain their budget. Medical equipment leasing comes to the rescue in this scenario and Gulf Finance Medical Leasing is the first business to ever address this market need in our region.?
The UAE and Saudi Arabia?s medical equipment markets alone are valued at AED 5 billion per annum with the wider Middle East and African markets valued at approximately AED 15 billion per annum. Key drivers to this growth are an increasing older population, the rising prevalence of lifestyle diseases such as obesity, diabetes, and hypertension; as well as the speed of new medical technologies coming to the market.
Medical equipment leasing has multiple benefits for health professionals. The latest equipment can be leased on a monthly fee basis usually for three years at which juncture it can be returned, purchased or upgraded for new state of the art equipment. There is no need for major capital expenditure for equipment with cash flows subsequently improved for businesses.
Within the monthly fee, all installation, maintenance and upgrade costs are included. The fee begins once the equipment is delivered. No down payment is required with a quick and simple application process bypassing the complexities and personal guarantees required by bank loans.
Gulf Finance Medical Leasing is headed by Kai Trompeter, an international healthcare professional who helped set it up and is the Managing Partner for the division. In the last decade Trompeter has held several CEO and board positions mostly in the healthcare sector, including Germany, China, Ukraine, USA, Mexico and the United Arab Emirates. In the recent past, Trompeter has advised investors and government organisations on developing healthcare projects. As a Board member of a Mexican healthcare management company, with almost 200 hospitals under contract in a Public-Private-Partnership, he was responsible for the global supply chain management. He is supported by a team of medical experts from a range of healthcare specialities including diagnostic imaging and endoscopy, amongst others.
Steve Williams, Group Chief Executive Officer, Gulf Finance said, ?Gulf Finance Medical Leasing represents a first for the GCC market and once again confirms Gulf Finance? position as a pioneering financial institution in the region. The healthcare sector both here in the UAE and across the region is growing rapidly and is one of our major focus SME sectors as most of these hospitals and clinics that we will cater for are small or medium sized enterprises. Our leasing option is a cost effective way for healthcare businesses to retain their state of the art service offering without being weighed down by ownership of equipment, which is often surpassed by new technologies very quickly.
?We believe that Healthcare in the Gulf due to demographic changes and massive investments is changing quickly with medical equipment leasing becoming a key component of this growth. Our new Medical Leasing division is uniquely positioned to capitalise on this demand.?
Kai Trompeter said, ?Gulf Finance Medical Leasing offers a unique product and service to the region?s healthcare sector which is poised for significant growth in the years ahead. Our solution provides flexibility and supersedes the need for healthcare businesses to make significant capital investment upfront for equipment that quickly becomes obsolete with the evolution of new technologies. All members of our management team have a valuable wealth of medical expertise in medical technology, hospital management and the healthcare supply chain, which means we understand the business requirements for the healthcare sector and can promise to fulfil their professional needs and even exceed expectations.
We also pride ourselves on being supplier and brand independent; which allows us to offer the widest possible selection of medical equipment. Our monthly fee model is transparent and represents an all-inclusive cost which ensures there are no hidden charges or surprises. Healthcare businesses and professionals can therefore continue to invest in their businesses while managing their cash flows and on-going success.?
SOURCE:?http://www.cpifinancial.net/news/post/18259/gulf-finance-launches-gulf-finance-medical-leasing
Source: http://www.worldleasingnews.com/news/gulf-finance-launches-gulf-finance-medical-leasing/
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