Siemens Expands Healthcare Finance Offering in the U.S.
Siemens Financial Services to Tailor Working Capital Solutions for Healthcare Providers
Iselin, N.J., Jul 12, 2006, Siemens Financial Services, Inc. (SFS), the U.S. financial services arm of Siemens AG, today announced the expansion of its financing offering for healthcare providers to include working capital solutions. In addition to medical equipment financing, SFS will now provide revolving lines of credit and term loans to organizations throughout the U.S. who are providing healthcare services.
“As healthcare providers in the U.S. continue to struggle to effectively manage financial performance and offer customers the latest technologies, there is an increasing demand for a broader suite of financial solutions,” said SFS President and CEO Roland Chalons-Browne. “The addition of working capital financing for healthcare providers allows us to tailor our solutions to address the complex needs of the healthcare market, enabling SFS to have more in-depth, strategic relationships with our customers.”
This working capital offering is aimed at a range of healthcare providers including, but not limited to, hospitals, physician practices, diagnostic imaging centers, surgery centers, long-term care and skilled nursing facilities. These providers often seek financing when expanding facilities, making acquisitions, or looking to leverage the value of existing assets.
SFS is expanding its team within healthcare finance with dedicated senior industry experts including Jim Fuller, Tracy Maziek and Al Smith. Fuller, who has led several healthcare finance teams within SFS, spearheads this new effort within Siemens. Maziek and Smith, based in Southern California and Dallas, respectively, have recently joined the SFS team, bringing extensive knowledge and experience in working capital and structured finance solutions for the healthcare market.
About Siemens Financial Services
With some 1,700 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, the Siemens Financial Services Group offers a broad range of financial services. This covers activities from sales and investment financing to treasury services, fund management and insurance brokerage. The group’s key customers are internationally active industrial and services companies, as well as public-sector operators. The group supervises 22 leasing companies worldwide. Further information: www.siemens.com/sfs
Siemens Financial Services, Inc. (SFS) is a leading provider of business-to-business financial services and is one of Siemens’ operating companies in the United States. SFS helps businesses increase productivity, improve cash flow and acquire the latest technology by providing customized solutions that range from equipment financing to working capital solutions. With U.S. headquarters in Iselin, N.J., SFS employs more than 200 industry experts who specialize in tailoring solutions for thousands of premier businesses.
Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $96 billion in fiscal 2005. Founded nearly 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $18.8 billion and employs approximately 70,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens’ worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 460,000 people in 190 countries. For more information on Siemens in the United States: www.usa.siemens.com.
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