Philips, two firms move to finance medical equipment for Nigerian clinics

Tagged Mediloan QualityCare in Nigeria, the initiative will allow healthcare providers obtain loan to acquire Philips equipment at affordable prices.According to the parties in the partnership, small and medium-sized private clinics that want to acquire innovative medical technologies and services from Philips can finance this purchase through the Diamond Mediloan QualityCare Program.Loans under  the program […]

Tagged Mediloan QualityCare in Nigeria, the initiative will allow healthcare providers obtain loan to acquire Philips equipment at affordable prices.
According to the parties in the partnership, small and medium-sized private clinics that want to acquire innovative medical technologies and services from Philips can finance this purchase through the Diamond Mediloan QualityCare Program.
Loans under  the program will be backed with business and medical quality assessments in addition to training implemented by the Medical Credit Fund using the Safecare standards, according to Jude Anele, head of direct banking at Diamond.
This he explained will allow clinics to expand and improve the quality of their services, giving more people access to quality healthcare.
He said loans under the Diamond Mediloan QualityCare Program are tailor-made to suit the needs of the individual clinical facility.
He added that most small and medium-sized private clinics in Nigeria cannot obtain financing from banks due to the perceived high investment risks.
“As a result, they are not able to invest in medical equipment, carry out necessary renovation works or recruit qualified personnel. At the same time these clinics serve more than half of the population in Nigeria, primarily low-income earners,” he said.
Monique Dolfing-Vogelenzang, Managing Director Medical Credit Fund, said: “What we have seen is that clinics often use a loan to invest in medical equipment. It is therefore very important that quality equipment tailored to local circumstances is available in the market.”
“Many clinics across Nigeria would like to invest in new medical technology, but find it difficult to obtain the necessary finance,” said Rob Armstrong, General Manager, Philips Health Systems West Africa.
He added the partnership would offer solutions to larger groups of people who need them the most and also represent the next step in expanding activities in Nigeria.