By: Anthony Casciano, CEO, Siemens Financial Services Inc.
COVID-19 has exposed existing healthcare system vulnerabilities and inequalities, particularly in Emerging Market (EM) countries such as Mexico. Not only are EM countries home to 85% of the world’s population, but they are also host to 80% of chronic diseases and 77% of all non-communicable disease related deaths, according to McKinsey.
Despite government attempts to mitigate the impacts of the pandemic, healthcare systems are still under strain. While strengthening public healthcare sector capabilities and mobilizing resources remains a priority, private providers play a key role in serving a sizable portion of the population in Mexico and many other low- and middle-income countries.
This makes the need for capital investment, from providers like Siemens Financial Services (SFS), even more important to help stop the spread of disease, ease the burden on healthcare systems, and improve quality of life for people across the globe. Financing is increasingly vital in making healthcare more widely accessible and enabling providers to invest in infrastructure, leverage innovative technology, and more.
SFS, the financing arm of technology company Siemens, recently expanded its offering to Latin America with the launch of Siemens Servicios Comerciales (SSC). Headquartered in Mexico City, SSC combines SFS’ global expertise and the local knowledge base of Siemens companies in the region to offer creative financing solutions to new and prospective customers. Supporting clients with capital solutions directly and alongside other lenders and co-investors, SSC plans to help customers obtain digital technology, increase access to capital, and develop a growth strategy more efficiently.
SSC’s first transactions were in support of Mexico’s healthcare system
SFS’s recent support of Grupo Angeles, the largest private healthcare service provider group in Mexico, highlights what we can offer in the region in the local currency. SFS structured a tailor-made financing solution to meet the customer’s needs and investment plan as well as Siemens Healthineers equipment installation schedule. Eliacid Heredia Pizzaro, executive director of SSC, commented: “SFS, alongside Siemens Healthineers, provided the ideal solution of creative financing and state-of-the-art technology enabling new business models that support Grupo Angeles’ growth strategy and takes our business relationship to another level.”
Another excellent example of our support of Mexico’s healthcare system is our recent investment in Healthec by TecSalud to develop ambulatory clinics across six Mexican cities over the next six years.
SFS VP of Equity, Guillermo Gutierrez, commented: “Teaming up with Finventure and TecSalud, the healthcare system of Tecnológico de Monterrey – a leading private University in Mexico and one of the most prestigious in Latin America, to develop these ambulatory clinics, Siemens is well-equipped to help bring quality healthcare to communities in Mexico.”
While the COVID-19 pandemic caused devastation across the globe, it also presented an opportunity to improve our healthcare systems. With financiers such as SSC offering much-needed capital and new and emerging technology becoming more readily available, access to healthcare will become easier for those who need it most.