Wells Fargo launches Siemens Healthineers Medical Equipment Finance Program
SAN FRANCISCO – February 6, 2020 – Wells Fargo & Company (NYSE: WFC) has launched a vendor‑financing relationship with Siemens Healthineers, providing competitive, comprehensive financing options for hospitals and health systems across the U.S.
Wells Fargo Vendor Financial Services, a part of Wells Fargo Commercial Capital, delivers the program. The financial solutions are designed to help improve customers’ cash on hand, assist with acquiring new technology while remaining within budget, and accelerate important growth projects. In addition, Wells Fargo will supply the Siemens Healthineers sales force with competitive lease and loan products, comprehensive transaction support, and value-added services to help aid the sales process.
“Wells Fargo is dedicated to helping Siemens Healthineers increase sales and improve margins,” said Jim Kelly, head of Wells Fargo Vendor Financial Services. “We are proud to deliver a flexible financing program, paired with marketing support, training resources, and a field sales team to help provide a competitive edge.”
Wells Fargo has deep roots in the healthcare industry, with more than $43 billion in capital committed to the healthcare financial sector and more than $2 billion in equipment financing.
“Hospital and healthcare executives struggle with securing favorable terms for capital acquisition,” said David Pacitti, President and Head of the Americas, Siemens Healthineers. “Through the Wells Fargo Medical Equipment Finance Program, Siemens Healthineers customers will be offered thorough and competitive financing options, which will assist with technology acquisition.”
Siemens Healthineers is a leading medical technology company with more than 120 years of experience and 18,500 patents globally. An estimated five million patients every day benefit from the company’s technologies and services in the areas of diagnostic and therapeutic imaging, laboratory diagnostics and molecular medicine, as well as digital health and enterprise services.
About Wells Fargo Vendor Financial Services
Wells Fargo Vendor Financial Services helps manufacturers, dealers, and distributors manage their equipment inventory, enhance sales opportunities, and serve their customers through a full range of financing programs designed for their specific business needs. From referral services and wholesale solutions to integrated and customized programs, Wells Fargo Vendor Financial Services’ experienced team and value-add tools help customers succeed. Wells Fargo Vendor Financial Services is the trade name used by Wells Fargo Bank, N.A. and certain of its subsidiaries that provide financing and programs for manufacturers, dealers and other vendors of equipment and inventory and their customers. Equipment financing transactions are provided in Canada by Wells Fargo Equipment Finance Company.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.