GE Healthcare, the $19.8 billion healthcare business of multinational conglomerate, GE and Access Bank Nigeria have entered into a partnership to provide Nigeria’s private healthcare operators with equipment financing.
Under the agreement, borrowers will be able to secure negotiable loans of up to $800,000, based on the customer requirement.
Access Bank, which is part of a network of 592 international branches, will provide access to loans for eligible healthcare providers, while GE Healthcare will support the program through the 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. Borrowers which qualify for loans include private healthcare providers such as hospitals, clinics, diagnostic centres and other private practices offering a broad array of services.
Speaking at the signing ceremony, Mr. Eyong Ebai, General Manager for GE Healthcare West, Central & French Sub-Saharan Africa said his organization is committed to investing in Public and Private Partnerships that innovate new delivery models that will improve access to affordable and quality patient outcomes.
“Our partnership with Access Bank will help lift the financial burden off the healthcare providers,” he added.
Earlier this year, GE Healthcare 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.
“There is a need to provide innovative financing models for healthcare providers especially in the private sector, who currently face challenges accessing financing for purchase of healthcare equipment due to the risk associated with the business,” said Mr. Herbert Wigwe, CEO of Access Bank.
“As a financing institution, we are committed to provide financing at both the health-service-provider level and at health-service-consumer levels to ensure that the people of Nigeria have all they need to live healthy lives,” he concluded.