Direct Capital Expands Medical Equipment Finance Division

medical supplies

See our recent press release below. We have allocated $68 million to finance medical, dental and veterinary equipment:

Direct Capital, a leading nationwide provider of equipment leasing and financing, has taken several key steps to expand its Medical Equipment Finance Division. The company has announced that it will allocate nearly $68 million in lending capacity to immediately provide more substantial financing programs to vendors that sell medical, dental, and veterinary equipment. In addition, the company has hired three new vendor sales executives with significant medical equipment financing and leasing experience.

“With the significant expansion of our finance capacity over the last several months, we have identified several key verticals in which we want to substantially increase our investments,” said Paul Ringuette, Vice President of Sales for Direct Capital. “Our Medical Equipment Finance Division is one of our strongest performing and fastest growing vendor programs and we are excited to build on our success in this sector.”

The company recently hired Regis Gallagher, Laura Anderson, and Erik Mohler to develop new finance programs specifically for health care equipment sellers. All three of these sales executives are well established in the medical equipment finance space and the equipment leasing industry in general. With these hires, the company now has sales offices in New York, California, Atlanta, Chicago, Detroit, Ohio, Iowa, and New Hampshire.

“We continue to see more and more medical equipment vendors experiencing pain in securing reliable financing programs for their customers,” said Ringuette. “This is another void that we are well  positioned to fill and we are excited to speak with any vendors in this space that wish to deliver a more comprehensive financing program.”

Direct Capital was recently named among the Equipment Leasing and Finance Top 100 companies, according to the Monitor, a leading industry trade publication. Monitor also ranked Direct Capital as the 6th largest independent provider of equipment financing in the United States.

Direct Capital, which provides a wide range of financial services, secured $100 million from Key National Finance and other conduits and banks in April. That came on the heels of the renewal of an additional $100 million line from DZ Bank. They have been one of the few, if not the only, specialty finance companies over the last 9 months to secure new capital.

To learn more about the benefits of Direct Capital’s Medical Equipment Finance Division, vendors should call (603) 373-1342.

Photo credit to autodidact at http://www.sxc.hu/photo/1342025

2 Comments on "Direct Capital Expands Medical Equipment Finance Division"

  1. MedeSuperMart June 17, 2011 at 3:03 am ·

    Thanks for extremely post..

  2. Medical supplies online July 5, 2011 at 3:26 am ·

    $68 million of allocation, now that’s a lot!

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