Equipment Rental Finance Applications On The Rise

Posted by Bennie Groenewald on 30 March 2021.



Bennie Groenewald

LLM Tax Law, B.Proc, HDip Tax

The Tax Shop Head Office

More about Bennie Groenewald

After having qualified and practiced as a Commercial lawyer Bennie worked in the Banking and Financial services industry for 25 years across multiple market segments in South Africa, Sub-Saharan Africa and the UK, the last 14 years of which in senior and executive leadership positions. During this time, he dealt extensively with cross-border banking and finance including project finance, asset finance, debt capital markets and derivatives, including the legal aspects thereof. In recent years, Bennie has played an active leading role in investment, credit and risk management as well as sound corporate governance.
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MediCoop started to market equipment rental finance in January 2019. Despite the challenges of Covid-19, the cooperative has concluded transactions across various disciplines. The equipment rental model allows the practitioner to buy the latest technology today, but spread the payment across the useful life of its operation.

To date MediCoop assisted numerous medical practitioners to set up new practices, or extend their practices, through the acquisition of high technology medical equipment on a rental basis.

Commenting on the yearly growth numbers, MediCoop’s executive director, Tobie Louw, said that the success of this financial product despite the Covid-19 pandemic, is a clear indicator of the market hunger for medical equipment financing. “MediCoop specialises in the needs of the health and medical sector, and the equipment rental success shows that the sector trusts MediCoop.”

A dentist from Polokwane, Dr Casper Gilfillan, expressed his satisfaction in investing in a new Zumax microscope for his dental practice “We are now starting to use it more frequently. With each case we realize what a great asset this is for the practice. MediCoop played a huge role through their ongoing availability and support. They understand the needs of the industry – from acquisition right through to installation.”



MediCoop’s managing director, Theuns Botha, said “A cooperative such as MediCoop is able to keep up with changing technologies, and in a position to offer boutique-style services to medical practitioners. Completely digital, operating online, and only servicing the healthcare sector, MediCoop is perfectly positioned to formulate specialised finance packages for high technology medical equipment that would normally be out of the reach of an average medical practitioner.”For more information, please visit our website www.medi.coop