Endoscopes are expensive, delicate pieces of medical equipment which need to be upgraded every 4-5 years. They can be damaged easily during procedures and repairs are complex and can only be performed by the manufacturer. Modern, fully functional endoscopes are the lifeblood of the Surgery, which cannot operate without them, or if any are out of action.
To create a flexible, affordable lease structure which would allow for the endoscopes to be purchased, repaired when necessary, g upgraded every 4-5 years.
What was required was a lease which operated in essence like a rental contract. Most medical finance providers are not able to structure a lease in which ownership of the equipment reverts to the finance provider at the end of the lease term. Yet this is the structure which best matches this specific medical equipment.
Challenges in structuring the lease:
Eclipx Commercial was able to structure a lease which operated like a rental contract, where ownership of the endoscope reverted to Eclipx at the end of the lease.
Eclipx was able to use its knowledge of medical equipment to include repair/maintenance of the endoscopes in the lease payments, at a lower cost to Campsie Medical Practice than if they paid for these repairs when needed.
Eclipx was able to structure the lease so that a large residual value remained at the end of the lease. This made the regular lease payments lower.
Eclipx was able to do this due to its relationship with GraysOnline, and its understanding of and access to the secondary market. This allows for better pricing for the customer.
“Eclipx Commercial’s specialists were easy and quick to deal with. They fully understood the nature of our equipment – that it would need repairs and maintenance regularly, and that these costs needed to be included in a fair way in the lease payments. They came up with a great solution, where maintenance is included for a very small cost across the term of the lease.”
Joshua Kim, Practice Manager
Campsie Day Surgery