To remove challenges currently faced by private healthcare providers accessing financing for the purchase of healthcare equipment in Nigeria, GE Healthcare and a full-service commercial Bank, Access Bank Nigeria, weekend, entered into a partnership to provide innovative equipment financing models for the providers.
The collaboration was also aimed at helping the eligible private healthcare providers such as hospitals, clinics, diagnostic centres and other private practices offering a broad array of services deliver affordable healthcare services to Nigerians.
According to the partners, borrowers who qualify for loans will be able to secure loans of up to $800,000 negotiable, based on the customer’s requirement. Also, whereas Access Bank provides access to loans for eligible healthcare providers, GE Healthcare will support the program through provision of GE healthcare equipment and technical support.
The equipment under the partnership scope include: Imaging Solutions including Magnetic Resonance Imaging (MRI) and Computed Tomography (CT), Ultrasound Machines and Life Care Solutions.
Speaking at the signing ceremony, General Manager for GE Healthcare West, Central & French Sub-Saharan Africa, Mr. Eyong Ebai, said: “Our partnership with Access Bank will help lift the financial burden off the healthcare providers.” He said earlier this year, his company rolled out a similar initiative in Kenya in partnership with Medical Credit Fund to provide Small and Medium Enterprises, SMES, with financing for healthcare equipment.
The CEO Access Bank, Mr Herbert Wigwe, said: “There is a need to provide innovative financing models for healthcare providers especially in the private sector, who currently face challenges accessing financing for the purchase of healthcare equipment due to the risk associated with the business.
“As a financing institution, we are committed to provide financing at the health-service-provider health-service-consumer levels to ensure people of Nigeria have all they need to live healthy lives.”
Access Bank was earlier recognised for the second time as the ‘Outstanding Healthcare SME-Friendly Bank of the Year’ at the Nigerian Healthcare Excellence Award (NHEA) 2019.