Siemens Expands Healthcare Finance Offering in the U.S.

ISELIN, N.J., Jan. 18, 2011 /PRNewswire/ -- Siemens Financial Services, Inc. (SFS Inc.), the U.S. unit of Siemens' Financial Services division, recently announced an expansion of its healthcare financing team and product capabilities.  In addition to equipment financing, SFS Inc. now offers healthcare providers project, construction and permanent real estate financing, as well as asset-based and cash flow-based term loans.  

(Logo: http://photos.prnewswire.com/prnh/20070904/SIEMENSLOGO )

"Expanding our healthcare finance platform creates a new and much-needed source of capital for healthcare providers," said Kirk Edelman, president and chief executive officer, SFS Inc.  "With these additional offerings, they can have more options to pursue their strategic initiatives, and continue providing and improving the quality of healthcare in their communities."

"These additional capabilities are a direct response to the tightened credit and bond markets affecting healthcare providers' access to capital over the last few years," said Ted Drake, Senior Vice President and General Manager of healthcare finance.  "Adding a dedicated team to provide project financing, construction and permanent real estate financing, along with traditional equipment financing, enables healthcare providers to invest more easily in expansion projects."  

As part of this new offering, SFS Inc. recently provided a $17.2 million credit facility to Bucks County Specialty Hospital, located in Bensalem, Pennsylvania.  The credit facility was used to acquire a variety of equipment which will be utilized in the hospital, as well as to make needed improvements to the building.  

Hospital chairman Mike West said, "Bucks County Specialty Hospital is committed to providing patients with quality healthcare in a patient-focused setting. Siemens' support of the hospital as we grow and add new services will help us fulfill our mission. We look forward to having an ongoing relationship with Siemens."

To learn more about the company's healthcare financing capabilities, please visit: www.usa.siemens.com/healthcarefinancesolutions

The Siemens cross sector Financial Services (SFS) is an international provider of financial solutions in the business-to-business area. With about 2,000 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, SFS supports Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare. SFS finances infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. For more information see: www.siemens.com/finance

Siemens Financial Services, Inc. (SFS Inc.) is a leading provider of business-to-business financial services in the United States. SFS is a committed business ally that combines deep industry expertise with integrated financing solutions to enhance the efficiency, productivity, and competitiveness of its customers. The company, based in Iselin, NJ, enables business expansion for thousands of customers in the healthcare, energy, and industrial sectors by providing customized solutions that range from equipment financing and working capital to project and export finance, and insurance solutions. Further information on Siemens Financial Services in the United States: www.usa.siemens.com/finance

Siemens Corporation is a U.S. subsidiary of Siemens AG (NYSE: SI), a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors.  For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions.  With 405,000 employees in 190 countries, Siemens reported worldwide revenue of $102.9 billion in fiscal 2010.  Siemens in the USA reported revenue of $19.9 billion and employs approximately 62,000 people throughout all 50 states and Puerto Rico.  For more information on Siemens in the United States, visit www.usa.siemens.com

About Bucks County Specialty Hospital

Bucks County Specialty Hospital is a specialty surgical hospital in Bensalem, Pennsylvania. The hospital was developed by area physicians associated with the Rothman Institute and Nueterra Healthcare and opened in 2009. The 65,000-square-foot facility features six fully-equipped operating rooms with the latest medical instrumentation. The hospital is equipped for joint replacements, orthopedic surgery, pain management and spine surgery, as well as sports medicine, foot and ankle, shoulder and elbow, and hand and wrist procedures.  For more information about the hospital visit www.bcshospital.com or call (215) 244-7400.  

SOURCE Siemens Financial Services, Inc.