Hedonova's CIO, Suman Bannerjee, Reveals How Equipment Financing Reshapes Healthcare Investment Strategies
Addressing the repayment and return process, Bannerjee outlined the standard industry practice of monthly payments. Suman Bannerjee, CIO of Hedonova, has revealed his insights into the world of equipment financing in the healthcare sector. He explains how equipment financing allows companies to acquire essential assets without the burden of upfront payments. Equipment financing allows healthcare companies to distribute the cost of expensive equipment over time, preserving valuable capital. It also provides tax advantages, allowing companies to optimize their financial strategies and provide the best possible care to patients. Bannerjee highlighted Hedonov's innovative approach to equipment financing, partnering with equipment distributors to meet orders from businesses seeking financing options. He also highlighted the need for advanced equipment to avoid budgetary constraints.
Published : 2 years ago by Kapil Joshi in Health
In the healthcare sector, high-end medical equipment, such as MRI machines and CT scanners, plays a pivotal role in patient care. However, the substantial costs associated with these devices can be prohibitive for many healthcare companies. Bannerjee elucidated how equipment financing comes to the rescue by allowing businesses to acquire these essential assets without the burden of hefty upfront payments.
Mumbai: Suman Bannerjee, CIO of Hedonova, recently shared insights into the world of equipment financing and its crucial role in the healthcare sector during an in-depth interview. With a focus on large companies in the healthcare industry, Bannerjee explained the mechanics and significance of equipment financing.
Equipment financing offers numerous advantages to healthcare companies. It enables them to distribute the cost of expensive equipment over time, preserving valuable capital. This approach ensures that healthcare facilities can continually adopt the latest technologies, which is vital in a rapidly evolving sector. Additionally, equipment financing provides tax advantages, allowing companies to optimize their financial strategies while delivering the best possible care to patients.
Bannerjee shed light on Hedonova’s innovative approach to equipment financing. Instead of engaging directly with end-user companies, Hedonova collaborates with equipment distributors. When these distributors receive orders from businesses seeking financing options, they partner with Hedonova. This streamlined method is efficient and cost-effective, reducing risks and operational expenses. It also allows for easy equipment resale, should a company decide to return the assets, benefitting all parties involved.
Addressing the repayment and return process, Bannerjee outlined the standard industry practice of monthly payments. Hedonova requires a deposit equivalent to six months’ rent, ensuring a commitment to the leasing agreement. In the event of non-payment, Hedonova employs a systematic approach, categorizing the asset as high-risk after two consecutive missed payments and repossessing it after three months of non-payment.
Hedonova’s specialized focus on leasing high-value medical equipment sets it apart in the competitive landscape. The company serves prominent hospital chains across Southeast Asian nations, including Singapore, Malaysia, India, and Indonesia. Tax incentives in these regions further enhance the attractiveness of equipment financing for investors, with the ability to depreciate equipment over a shorter period while reaping its benefits for a longer duration.
While many lenders cater to large financing requests, Hedonova prides itself on its flexibility. The company is willing to underwrite orders ranging from a million dollars to larger sums, making it accessible to a broader spectrum of clients.
In conclusion, Bannerjee emphasized the pivotal role equipment financing plays in the healthcare and pharmaceutical industries. It enables these sectors to navigate the technological paradox they face, where the need for advanced equipment clashes with budgetary constraints. Equipment financing not only helps manage capital expenditures but also ensures the healthcare sector remains competitive by continuously adopting the latest technologies, ultimately benefitting patient care.
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