Siemens Finances Acquisition of Advanced CT Scanner for Pueblo Radiology

  • Siemens Financial Services arranges financing package for Santa Barbara-based medical imaging specialist
  • Deal highlights role of asset finance in enabling medical technology investment
  • Financing solution strengthens existing relationship with key Siemens customer
Wednesday, November 19, 2014 9:00 am EST

Dateline:

ISELIN, N.J.

Public Company Information:

NYSE:
SI
"Our relationship with Siemens from both the financing and equipment side has helped Pueblo to remain competitive in the local market and offer our patients the most advanced diagnostic capabilities available."

ISELIN, N.J.--(BUSINESS WIRE)--Siemens Financial Services (SFS) – the financing arm of Siemens – recently provided a financing package to Pueblo Radiology to support their acquisition of a Siemens SOMATOM® Perspective 64 slice computed tomography (CT) scanner, one of the most advanced medical scanners on the market. This latest financing solution continues a long-standing relationship between Pueblo Radiology and SFS’s Commercial Finance unit, which has provided over $9 million in equipment and construction financing to the Santa Barbara-based medical imaging specialist since 2001. Past equipment financed has included the Siemens MAGNETOM® Symphony MR scanner, the Siemens MAGNETOM® Verio 3T MRI system, and the Siemens Sentinelle™ Breast MRI coil system.

“We’re very careful about the vetting process for any major equipment purchase, and financing is a huge part of the transaction,” says Wayne Baldwin, CEO of Pueblo Radiology. “Our relationship with Siemens from both the financing and equipment side has helped Pueblo to remain competitive in the local market and offer our patients the most advanced diagnostic capabilities available.”

According to new SFS research conducted amongst the top 40 global medical equipment manufacturers, 70% of respondents saw an increasing customer demand for healthcare equipment financing over the past two years. Intensified competition between healthcare providers, budgetary constraints, and the post-recessionary lending environment has contributed to the increased need for private sector financing options.

“In today’s complex healthcare climate, the ability to provide healthcare suppliers such as Pueblo Radiology with tailored financing solutions has enabled Siemens’ clients to improve clinical efficiency and accuracy without jeopardizing their operating expenses or balance sheets,” says Gary Amos, Head of Americas for Commercial Finance at SFS.

This press release is available at: https://finance.siemens.com/financialservices/us/news_press/Press_Releases/Pages/assetfinance-PuebloRadiology.aspx

For further information on Siemens Financial Services, please visit: www.usa.siemens.com/finance

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Pueblo Radiology Medical Group is a highly respected medical practice specializing in medical imaging and interventional services, based in Santa Barbara. The practice was founded in 1957 in Santa Barbara, California by Dr. Ed Feldsted. Since its inception, Pueblo has provided caring, high-quality service and the full array of state-of-the-art diagnostic imaging exams to its patients, and has remained committed to supporting its hospital affiliates, with whom the company provides imaging services equal to the best current-day medicine has to offer. All Pueblo Radiology services are accredited by the American College of Radiology. For further information, visit http://www.puebloradiology.com/.

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of combined cycle turbines for power generation, a leading provider of power transmission solutions and a pioneer in infrastructure solutions and automation and software solutions for industry. The company is also a leading supplier of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2013, which ended on September 30, 2013, revenue from continuing operations totaled €75.9 billion and income from continuing operations €4.2 billion. At the end of September 2013, Siemens had around 362,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

Contact:

Siemens Financial Services
Jillian Lukach, +1-732-476-3492
jillian.lukach@siemens.com