A large Medical School & Teaching Hospital was leasing a hi-tech orthopedic surgical system from Somerset. The system had been in place over 5 years and the manufacturer had since made big improvements that were being offered on a new platform.
The surgery department, wanted to have the latest and greatest technology, the finance department wanted to get a “few more years” use out of the old platform.
The Somerset team was able to strike a deal with the manufacturer to accommodate the customer — Somerset extended the existing lease at a payment significantly below fair market value. This freed up operating budget for the hospital. The vendor then reduced their price to meet the delta created from the first lease payment decrease, and Somerset financed the new system. The hospital ended up with new and old technology for the same monthly payment, and the vendor placed a year-end order.
Our team is ready to help you take a different, more intelligent approach to your equipment finance
