Equipment Finance for Hospitals & Surgeries

The highest quality equipment is essential when lives are at stake, and new technologies are making patient expectations and costs ever higher.

As a result, the cost of providing medical equipment is growing steadily. It is not just the obvious items, like CAT and MRI scanners, with costs in the millions. Even equipment designed for everyday care, from beds and trolleys to the seating in your reception and waiting areas all carry a high price tag.

Your lighting, security and IT needs may require less specialized solutions, but they still mean substantial costs.

So what options are open to you?

Asset Finance for medical equipment

Asset Finance can provide solutions for medical equipment. From advanced systems - including robotics - in your operating theatre to basic furnishings for your waiting room, to the IT network, it will let you have everything you need and spread the cost. there are two types of Asset Finance to consider.

Hire Purchase lets you acquire an asset right away and spread the costs over up to 5 years. Hire Purchase is often used for items with a relatively long life. Power beds, which could easily be in use for 20 years, might be ideal for Hire Purchase.

Leasing works much like a rental agreement. It might be the only practical way to provide items like an MRI system, with costs in £millions. Leasing can also include maintenance - meaning that keeping your equipment in perfect condition is the responsibility of the lender.

New or secondhand?

New equipment may be ideal, but refurbished equipment can also be a good investment, especially for items such as seating. At Rangewell, we can help you cut your costs with pre-owned equipment – then cut them again with Asset Finance.

Can your supplier help?

Most medical equipment suppliers will be pleased to help you afford the equipment you want with their own Asset Finance arrangements. But they will be making a profit from providing the finance as well as on the equipment itself.

They may even offer 0% finance to close the sale - but there is a catch. As a borrower, you won’t pay any interest on the sum you borrow. So, if you finance a £8,000 portable ultrasound with an interest-free agreement from the supplier, you’ll repay just £8,000. The dealer pays the funding company the cost of the interest which they would otherwise take from you - but they will absorb the interest cost into the sale price. That £8,000 system could be hundreds of pounds cheaper if you bought it with cash - and found a specialist lender to provide the funds you needed.

We can usually undercut equipment suppliers finance - even 0% finance arrangements.

What other finance options are available for hospitals?

Assets aren't the only thing a hospital needs to purchase. From standard operating costs through to ambitious expansion plans, you may face sudden demands on your capital that can hamper cash flow or impair growth. 

Many different forms of lending are available which can help hospital owners improve their business. Loans can be arranged for anything from building a new unit in your facility through to purchasing a competitor or simply paying staff salaries, you can access lender support to achieve your goals. 

Rangewell can help guide you through the various funding options and help negotiate the best deal. In many cases, we can help build a combined package of finance that includes both asset finance for your equipment as well as other loans such as property finance to help you expand and equip a new unit. 

Why your hospital needs Rangewell to cut the cost of equipment

Not all finance providers work in every sector and their terms and rates can vary widely. A lender must understand the needs of the financial sector.

At Rangewell, our medical support team includes Asset Finance experts. They can help you find the right kind of finance arrangement for any type of hospital or GP surgery finance, and the most competitive deals - including those that undercut the 0% finance offers provided by equipment dealers. If you're looking for any type of finance for hospitals and surgeries, contact us today,