Project Challenge: With the growing elderly population, the existing incidence of chronic diseases, and an ever-increasing national expenditure on healthcare, the durable medical equipment market is booming. Our company works with original equipment manufacturers (OEMs) to finance leases of durable medical devices (X-rays, ultrasounds, patient monitoring, laboratory equipment, etc.) for customers that may not otherwise be able to afford it; the ultimate goal being sales improvement and an increase in cash flow. Our company sees the leasing opportunity for mid and lower markets as underserved. Thirty-five to 40% of all medical equipment in the U.S. is currently being leased, but the majority of this is done via large manufacturers and their internal financing arms (example: GE Healthcare/GE Capital). This leaves a great deal of opportunity for small- to mid-sized medical device manufacturers to partner with financing providers like ours.
Project Deliverables: The objective of this project is to further develop the approach to market this service to target OEMs. The project would consist of a market study to determine who the right target OEMs are, followed by the creation of a Go-To-Market strategy, including marketing materials.