An immediate need exists among members for affordable and easily accessible medical equipment finance to stay in tune with medical tech advancements. Members also require equipment to be regularly serviced and refurbished as the need may arise. MediCoop CFI will provide members with equipment finance through a hire purchase model whereby a medical practice can keep the required equipment off balance sheet; fully deduct equipment rent paid to MediCoop CFI from taxable income and whereby servicing and optional refurbishment of equipment is included in the monthly equipment rental amount. Equipment service providers’ relationships with MediCoop CFI are absolutely critical to ensure competitive rates and optimal member service is maintained. A decent margin can be obtained on these transactions while staying competitive due to funds originating from institutional member investors.
A standard need of medical practices will always remain access to competitive and well-administrated practice growth finance. MediCoop CFI will be able to provide practices (that have been appropriately vetted and found to be financially sound) with competitive practice finance through utilising institutional member investor capital. Finance will be focused on the buy in and exit of established doctors and specialist into medical practices; to further expand the capacity and infrastructure of existing practices; to amalgamate with other practices and (in under certain circumstances) to provide for working capital growth requirements.
An urgent need exists among newly qualified health care professionals for financial backing to start up private practices and other allied health care businesses. There is a desperate shortage of doctors and medical specialists and although medical graduates are well qualified, they are struggling to find the necessary capital to set up health care practices once they have completed their internship periods. Young doctors from previously disadvantaged communities in particular are finding it all but impossible to gain access to much needed start up finance.
MediCoop CFI aims to provide mainly young doctors from disadvantaged communities that do not have the financial security to obtain finance elsewhere with practice establishment finance. MediCoop CFI will be able to finance young doctors on less stringent credit terms than they would be able to obtain elsewhere in the market due to favourable terms obtained from member investors. Practices established by means of this finance stream will be required to utilise MediCoop CFI accredited financial bureau services. These services will be providing pro-active support and mentoring in managing financial and business processes. Direct insights into practice cash flow through these bureau services will also facilitate early identification of potential high-risk practices, which, in turn, will trigger closer monitoring, and heightened levels of support.
*Terms & Conditions apply.