Laboratory & Medical Equipment Finance

Laboratories and healthcare environments alike need cutting-edge equipment to function. In these busy and vital sectors, embracing automation and robotics is key to increasing your throughput, efficiency, accuracy and profitability. 

Whether you are starting up, buying into an existing practice or ready to move your current business on, a wide range of diagnostic and other equipment will be required. 

Your equipment needs may include:

• Lighting
• X-ray equipment
• Ultrasound equipment
• Equipment sterilizers
• Instrumentation and other monitoring equipment
• IT equipment – from handheld devices to a centralised booking and billing system
• Vehicles 

Raising the finances needed to purchase certain items can be daunting for healthcare practices. If public funding isn't available or can't cover the acquisition, you'll have to fund it yourself - which means turning to private lenders who can offer medical equipment financing.

Fortunately, you don't have to do this alone. Rangewell's team are the experts in the healthcare finance sector. We will work on your behalf to identify the right lender, align funding needs against your business goals and then negotiate a deal that sees you receive the healthcare equipment finance you need without being hampered by overly restrictive terms or interest rates. 

Upgrade existing equipment, outfit a new laboratory or improve your medical practice with healthcare equipment financing support from Rangewell. Get in touch today to see how we can help, all at no cost to you or your practice. 

Funding the ever-changing needs of the medical technology sector

Ensuring you're working with innovative equipment means facing new costs for your practice or lab. Buying state-of-the-art equipment is not only costly, it also commits you to a financial burden across the lifecycle of the machinery. If new technologies emerge, you won't be able to switch as you'll still be repaying your original purchase. 

That's why we believe that Asset Finance provides the most cost-effective ways to provide cutting-edge lab equipment - not only does it provide funding to make the initial purchase, but it's a flexible arrangement that includes options to buy items outright or to lease them. Loans and leases are secured.  Leases and doctor equipment loans are secured on the asset or equipment itself, reducing the costs to you and avoiding the need to put up any other assets such as your home as security.

Hire purchase

With a hire purchase agreement, you effectively hire the medical equipment that you use until you’ve paid enough of the loan back to purchase it. 

When using asset finance as funding for medical equipment, you'll normally pay a deposit, plus fixed monthly repayments, which can last for up to 60 months. When you’ve made all the repayments, your practice or lab will own the equipment outright. This can be ideal for durable items that will not go out of date, and which you will want for the long-term.

Lease finance

Leasing gives you more flexibility over your funding for lab equipment or other medical technology. You can regularly update your equipment to ensure you always work with the most cutting-edge technology as you won't be tethered to a specific item. In some leasing arrangements, you can own the asset at the end of the term, upgrade it, or give it back.

You can also decide whether you want maintenance and insurance to be included, and whether you need the item for its whole working life or a shorter, agreed period.

With leasing, you may never own the equipment, which means you need never be held back by outdated techniques, or have valuable space taken up in your lab by instruments you no longer need.

New or secondhand?

New equipment may be ideal, but refurbished equipment can also be a good investment for the future of your business. We can help you cut costs with pre-owned equipment – then cut them again with Asset Finance

Financing medical equipment is just the first step

Most laboratories and medical practices need finance for more than just acquiring new technologies. Even with a public sector contract or partnership with the NHS, many practices still need to fund staffing costs, maintenance, marketing, premises expansion and other purchases from their own profits. This can cause cashflow issues, or limit your ability to grow a practice when you're first starting out. 

In any of these cases, Rangewell can help you by arranging not only the initial lab equipment funding, but also by helping guide you through the medical equipment finance companies in the UK, determining which may suit your specific financial situation. From there, we can help you arrange many different types of finance to support your goals, such as business loans to pay IT costs or property development loans to fund the building of a new unit on your premises. 

Choose Rangewell to make financing medical equipment easier

As we've discussed, asset finance is the most fitting type of loan arrangement for the majority of medical equipment needs. However, finding the most competitive asset finance deals across the entire market takes time and expertise.

At Rangewell, we have the healthcare sector expertise needed to help ensure you get the best deal. We know the lenders who understand the scientific sector and who can offer the most competitive rates for all types of finance  - including asset finance solutions.

As specialists in funding, we can usually undercut the finance deals offered by equipment suppliers - even when they offer 0% finance arrangements - call us to see how.

Get funding for medical equipment with Rangewell

Coming to Rangewell means working with an expert team who will find you the most competitive deals on the equipment you need - helping ensure you can have the systems and instruments you need to give your practice or lab a competitive advantage.

We can help you secure finance even with the most complex requirements. Even if the equipment you need is highly specialised or needs to be custom-built, we can help find cost-effective solutions from lenders that understand your industry.

Our service is personal. Call our experts to discuss your objectives. We will work with you to find the answers scaled to fit your lab operations.