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Partnership enables hospitals, long-term care facilities and other healthcare organizations to obtain therapeutic mattress systems while conserving cash.
SUPERIOR, Colo. – October 13, 2009 – Key Equipment Finance, one of the largest bank-held equipment finance companies in the U.S. and an affiliate of KeyCorp (NYSE: KEY) today announced that it has been named the North American equipment finance partner of Kinetic Concepts, Inc. (NYSE: KCI). Kinetic Concepts, Inc. (KCI) is a leading global medical technology company focusing on the wound care, tissue regeneration and therapeutic support system markets.
The relationship with Key Equipment Finance will enable hospitals, long-term care facilities, surgery centers and other healthcare organizations to obtain KCI’s AtmosAir® pressure-relieving mattress replacement systems while conserving cash. By offering a finance option, KCI’s customers can also benefit from one-stop-shopping for therapeutic products and financing, as well as take advantage of tax benefits and the ability to add or upgrade mattress systems quickly and easily.
“KCI has become a global leader by manufacturing products that improve clinical outcomes ultimately reducing the overall cost of patient care,” said Adam Warner, president of Key Equipment Finance. “The addition of a comprehensive equipment finance program is yet another way the company is helping its healthcare customers treat patients while managing strict budgets. A finance program is a natural part of the complete customer service package offered by industry-leading companies like KCI.”
KCI noted Key Equipment Finance’s experience implementing vendor finance programs in the healthcare industry, as well as the company’s experience as a KeyBank customer, as primary reasons for selecting Key Equipment Finance as its finance partner.
“We’ve established a strong business relationship with KeyBank over the years, and Key Equipment Finance’s reputation in the equipment finance arena speaks for itself,” said Chris McDown, director of marketing for KCI’s U.S. therapeutic support division. “We look forward to having a streamlined equipment finance program and to working with the experts at Key Equipment Finance to deliver even greater value to our healthcare customers in the U.S.”
About KCI
Kinetic Concepts, Inc. (NYSE:KCI), is a leading global medical technology company devoted to the discovery, development, manufacture and marketing of innovative, high-technology therapies and products for the wound care, tissue regeneration and therapeutic support system markets. Headquartered in San Antonio, Texas, KCI's success spans more than three decades and can be traced to a history deeply rooted in innovation and a passion for significantly improving the healing and the lives of patients around the world. The Company employs 6,700 people and markets its products in more than 20 countries. For more information about KCI, and how its products are changing the practice of medicine, visit www.KCI1.com.
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:
- businesses of all sizes in the U.S. (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for larger structured equipment needs including single investor and leveraged leases, securitizations, and structured debt.
Headquartered outside Denver, Colorado, Key Equipment Finance manages a $13.5 billion equipment portfolio with annual originations of approximately $5.0 billion. The company has major management and operations bases in Albany, New York; London, England; Hong Kong, China and Sydney, Australia. The company, which supports clients in over 40 countries, employs 800 people worldwide and has been in the equipment financing business for over 35 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at http://www.KEFonline.com.
Cleveland-based KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $98 billion. BusinessWeek Magazine named Key the top bank in its Customer Service Champ 2009 edition, ranking Key 11th out of the top-25 companies that include many known for their customer service acumen. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/.
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