CASE STUDY
Vendor: Medtronic
End customer: Large Denver-based perfusion service company
Finance provider: Ross Capital (predecessor firm of Active Capital Funding)
Principal in charge: Mike Wagner
Vendor: Medtronic
End customer: Large Denver-based perfusion service company
Finance provider: Ross Capital (predecessor firm of Active Capital Funding)
Principal in charge: Mike Wagner
CHALLENGE A large Denver-based perfusion service company needed Medtronic Bio-Console equipment, medical records software, and Medtronic disposables totaling over $500,000. The end customer had no available budget for six months followed by a very minimum budget for the remaining six months. In years two and three, the budget improved but any proposed financing had to match cash flows from a rapidly-expanding business and a recently awarded major hospital contract. SOLUTION Medtronic’s product manager, Max Thompson, brought in Mike Wagner of Ross Capital to analyze the situation and check to see if there was any hope of a Medtronic sale. Medtronic contracted with Ross Capital to provide creative leasing and financing programs for their Cardiac and Vascular Group (CVG). Mike was up for the challenge and structured an increasing 3-year step lease that matched up to the customer's budgetary constraints while preparing documentation that protected Medtronic’s highly regulated accounting sales treatment. RESULT A very happy Medtronic customer (see right column quote) and a salvaged deal. |
Medtronic for sure had the best equipment and products, but they also had the best financial offering to accommodate our unique situation. This deal would never have happened if they didn’t bring in the creative thinking of their leasing team.
- Manager of end customer company |