Healthcare facilities nationwide looking to purchase new Siemens Healthineers products, including imaging equipment, now have a new channel for securing potential funding.
Wells Fargo announced Friday it is launching a vendor financing relationship with Siemens in an effort to provide more comprehensive financing options for U.S. hospitals and health systems. Wells Fargo Vendor Financial Services – a part of Wells Fargo Commercial Capital – will administer the program.
“Hospital and healthcare executives struggle with securing favorable terms for capital acquisition,” said David Pacitti, president and head of the Americas for Siemens Healthineers in a press statement. “Through the Wells Fargo Medical Equipment Finance Program, Siemens Healthnineers customers will be offered thorough and competitive financing options, which will assist with technology acquisition.”
The program is designed to provide benefits in two ways. The financial solutions can help customers have more on-hand cash, help them make in-budget purchases of new technologies, and facilitate important growth projects. Additionally, Wells Fargo will give the Siemens sales force competitive lease and loan products, comprehensive transaction support, and value-added services to assist with sales efforts.
With long-standing experience in healthcare financing, Wells Fargo has $43 billion in capital dedicated to the healthcare sector and more than $2 billion earmarked for equipment financing.